North American natural gas prices were subdued this week despite a boost from lower production and some lingering cold weather. On Thursday, the New York Mercantile Exchange contract for April settled at $1.683/MMBtu, down 1.6 cents on the day. As a comparison, NGI’s next-day Henry Hub traded Wednesday for Thursday delivery at $1.565, down a…
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Early Storage Injection Sends April Natural Gas Futures Lower
The U.S. Energy Information Administration (EIA) on Thursday reported a 7 Bcf injection into natural gas storage facilities for the week ended March 15, heaping additional pressure on natural gas futures. Ahead of the 10:30 a.m. ET storage print, April Nymex futures were trading down 2.1 cents day/day at $1.678/MMBtu. After the data was released,…
Mexico Presidential Hopeful Gálvez Looking to Transform Nation’s Energy Sector
Opposition candidate Xóchitl Gálvez promises to shake up Mexico’s energy sector if she wins the elections in June. Gálvez would respect the laws of competition as enshrined in the constitution, promote the domestic production of natural gas and renewable energy and work to develop a regional energy strategy, Rosanety Barrios, the head of her energy…
April Natural Gas Futures Finish Higher Supported by Cold; Spot Gas Climbs
April Nymex natural gas futures extended gains Tuesday with bulls feeding on near-term weather forecasts that would support a bump in demand and a pullback in the widening of natural gas storage surpluses. At A Glance: Futures add to prior gains Demand boosted by chill Cash gas up, Texas negative The front-month contract settled 4.1…
CFE Highlights Banner Year for Natural Gas Marketing Subsidiaries
Mexico’s state power utility Comisión Federal de Electricidad (CFE) touted strong financial performance in 2023 by its natural gas marketing affiliates, CFE International LLC (CFEi) and CFEnergía (CFEn). Houston-based CFEi procures U.S. gas supply for CFE’s fleet of gas-fired power plants in Mexico, and is a leading U.S. marketer of natural gas. CFEn, meanwhile, imports…
Natural Gas Futures Prices Finish Higher Monday; Cash Up on Cooldown
Natural gas futures pulled back from early highs, still ending the week’s opening session with a gain as near-term cold weather that could prevent surpluses in natural gas inventories from widening further offered some support. The April Nymex natural gas futures contract settled Monday at $1.703/MMBtu. Prices rallied early to a high of $1.762 but…
NGI’s 4Q2023 Mexico Natural Gas Market Analyst Takeaways
Mexico faces an election in June amid rising natural gas demand and infrastructure needs. See what NGI analysts gleaned from the recently completed 4Q2023 earnings season. SLB Corp. (SLB): CEO Olivier Le Peuch told investors on SLB’s 4Q2023 earnings conference call that “in the international markets, we expect full year revenue growth reaching the mid-teens…
Colder Forecast, Tighter Balances Lift Natural Gas Futures in Early Trading
Supportive weekend weather trends, against a backdrop of tightening underlying fundamentals, helped natural gas futures rebound in early trading Monday. After plunging 8.6 cents in Friday’s session, the April Nymex contract was up 8.8 cents to $1.743/MMBtu as of 8:35 a.m. ET. The American Global Forecast System model added 20 heating degree days (HDD) over…
With Natural Gas Prices So Cheap Across the Border, Why Isn’t Mexico Importing More? – Column
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. Almost 10 years have passed since the formation of Cenagas, the operator of Mexico’s Sistrangas natural gas pipeline network. The first open…
North American Natural Gas Prices in Doldrums After Warm Winter – Mexico Spotlight
North American natural gas futures gained some ground on Thursday but overall, prices continued to languish. After six straight sessions of losses, the New York Mercantile Exchange contract for April rose on Thursday by 8.3 cents/MMBtu day/day to settle at $1.741. There was little room for optimism, though, for natural gas bulls. AccuWeather said the…