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Natural gas futures continued to sell off on Friday as an expected warmup and likely rebound in production over the weekend pressured prices. The March Nymex gas futures contract closed out the week at $2.410/MMBtu, off 4.6 cents on the day. April futures slid 4.2 cents to $2.480. At A Glance: February forecast seen bearish…

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. Recently, officials at CFEnergía, the trading arm of Comisión Federal de Electricidad (CFE), announced plans to create a secondary market for natural…

The U.S. natural gas rig count fell two units to 158 for the week ended Friday (Feb. 3), while declines in the oil patch sent the combined domestic tally tumbling 12 units lower to 759, according to the latest tally from Baker Hughes Co. (BKR). Along with the loss of two natural gas-directed rigs, domestic…

The European Union (EU) has published the first LNG reference price for use in a market control mechanism to cap natural gas prices under regulations that take effect later this month.  The reference price is an average of several liquefied natural gas indexes and benchmark prices that will be used to trigger the cap if…

Europe must continue cutting its natural gas consumption this year and act quickly to secure additional supplies if it expects to make it through next winter, according to Brussels-based think tank Bruegel. The European Union (EU) must cut demand this year by 13% from the previous five-year average through at least Oct. 1, Bruegel said…

Value continued to erode in regional natural gas forwards markets during the Jan. 26-Feb. 1 trading period as forecasts showed this month was poised to carry over the same warm-dominated themes that have collapsed prices winter-to-date. March fixed prices at benchmark Henry Hub sank 44.7 cents to end the period at $2.473/MMBtu, and regional hubs…

A softening outlook for natural gas activity and an elevated recession risk may lead to some hiccups this year, but the overall forecast for North American hydrocarbons is the healthiest in years, according to Liberty Energy Inc. CEO Chris Wright. The Denver-based hydraulic fracturing (fracking) and completions expert recently issued its fourth quarter and year-end…

NGI has made a revision to our February 2023 Bidweek prices that affects the following locations:

Driven by declines in the oil patch, the U.S. rig count tumbled 12 units lower to finish at 759 for the week ended Friday (Feb. 3), according to updated numbers from oilfield services provider Baker Hughes Co. (BKR). Domestic declines for the week included 10 oil-directed rigs and two natural gas-directed rigs. Land drilling declined…