NGI Mexico GPI

Mexico Electric Power Counter Reform Vote Seen Dragging into 2022

Mexico Electric Power Counter Reform Vote Seen Dragging into 2022

Mexico President Andrés Manuel López Obrador has high hopes of changing the rules of the game in the electric power sector, but his proposal likely won’t be voted on in Congress until early next year as the reform is studied by legislators. The reform, if passed, would modify the constitution to eliminate upstream oil and…

October 19, 2021
Late Sell-Off Sends November Natural Gas Below $5; Cash Tanks on Mild Temperatures

Late Sell-Off Sends November Natural Gas Below $5; Cash Tanks on Mild Temperatures

Natural gas futures extended their losses on Monday as cold weather remained largely absent from long-range forecasts. Despite higher global prices, the November Nymex gas futures contract plunged 42.1 cents to settle at $4.989/MMBtu. December dropped 36.4 cents to hit $5.236. At A Glance: Little cold in the forecasts yet European gas surges Big storage…

October 19, 2021
World Natural Gas Market Under ‘Tremendous Pressure’ as Winter Nears

World Natural Gas Market Under ‘Tremendous Pressure’ as Winter Nears

Moving the energy economy to net zero emissions is timely and costly, and the world now faces another dilemma: a natural gas market under “tremendous pressure” ahead of winter, the International Energy Agency (IEA) said Wednesday. In launching its annual World Energy Outlook (WEO-2021), the global energy watchdog acknowledged that winter 2021/2022 is opening with…

October 18, 2021
Natural Gas Futures Finish Week Down Sharply as Mild Weather Seen Lingering; Cash Crumbles

Natural Gas Futures Finish Week Down Sharply as Mild Weather Seen Lingering; Cash Crumbles

Natural gas futures closed the week lower as the latest storage data — the tightest all summer — was seen as a one-off event amid an otherwise bearish backdrop. With the coming two weeks likely to include only a few days of cool weather, the November Nymex gas futures contract fell 22.0 cents to $5.345/MMBtu.…

October 18, 2021
Column: Mexico’s Counter Reform Threatening to Dismantle Competitive Energy Market

Column: Mexico’s Counter Reform Threatening to Dismantle Competitive Energy Market

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. The opinions and positions expressed by Prud’homme do not necessarily reflect the views of NGI’s Mexico Gas Price Index. In the midterm…

October 15, 2021
Natural Gas Futures Briefly Hit Close to $6 on Tight EIA Data, Cooler Outlook; Cash Strengthens

Natural Gas Futures Briefly Hit Close to $6 on Tight EIA Data, Cooler Outlook; Cash Strengthens

Natural gas futures continued to surge Thursday as weather models finally started trending cooler and the latest storage data reflected one of the tightest balances all summer. The November Nymex gas futures contract nearly touched $6.000/MMBtu before midday, but ultimately settled at $5.687, up 9.7 cents from Wednesday’s close. December climbed 8.4 cents to $5.837.…

October 15, 2021
Natural Gas Prices Continue Hot Streak as Uncertain Winter Looms – Mexico Spotlight

Natural Gas Prices Continue Hot Streak as Uncertain Winter Looms – Mexico Spotlight

U.S. natural gas forward prices for November stayed in the range between $5.00 and $6.00/MMBtu this week as European and Asian energy markets continued to pressure the global benchmarks. “Despite these prices, natural gas demand is high,” a Mexico City-based gas buyer told NGI’s Mexico GPI. Imports from the United States rose week/week. On Thursday,…

October 14, 2021
Natural Gas Futures Stage Late Rally Despite Further Shrinking Expected in U.S. Storage Deficits

Natural Gas Futures Stage Late Rally Despite Further Shrinking Expected in U.S. Storage Deficits

Traders struggled to put a fair price on natural gas futures Wednesday amid conflicting signals in the United States and overseas. After plunging to a $5.350/MMBtu intraday low, however, a cooler turn in the latest weather models lifted the November Nymex gas futures contract, which settled 8.5 cents higher day/day to $5.590. December climbed 9.0…

October 14, 2021
Labor Clashes Intensify at Mexico’s Dos Bocas Refinery as AMLO Policies Questioned

Labor Clashes Intensify at Mexico’s Dos Bocas Refinery as AMLO Policies Questioned

Videos circulated on Wednesday of violent clashes between security forces and striking employees of construction firm ICA Fluor at the Dos Bocas oil refinery construction site in Mexico’s Tabasco state.  Workers reportedly are demanding better pay and working conditions before resuming work on the refinery, one of the flagship public works promoted by President Andrés…

October 13, 2021
Natural Gas Futures Find New Footing to End Losing Streak

Natural Gas Futures Find New Footing to End Losing Streak

Following a steep loss to start the week, natural gas futures recovered some ground Tuesday and finished ahead on the day as traders bet that recent market selloffs were overdone. This ended a two-day losing streak dating to last week. At A Glance: Futures end two-day skid Global supply challenges could fester Outlook points to…

October 13, 2021
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