NGI Mexico GPI

Mild winter temperatures continued their relentless assault on natural gas futures prices Friday as a lack of impressive cold into early February gave bears the initiative; the February Nymex contract slid 3.3 cents to settle at $1.893/MMBtu. March settled at $1.870, down 3.4 cents.

Natural gas production in Mexico averaged 3.81 Bcf/d during 2019, up from 3.71 Bcf/d in 2018, according to new data from upstream regulator Comisión Nacional de Hidrocarburos (CNH).

After recent heavy selling, signs of colder temperatures returning near the end of the 15-day outlook provided enough impetus for a modest natural gas futures rally Thursday; however, an on-target inventory report saw prices pull back a few cents. The February Nymex contract went on to settle 2.1 cents higher at $1.926/MMBtu after trading as high as $1.980. March settled at $1.904, up 0.4 cents.

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column as part of a regular series on understanding this process, written by Eduardo Prud’homme.

After recent heavy selling, signs of colder temperatures returning near the end of the 15-day outlook provided enough impetus for a modest natural gas futures rally Thursday; however, an on-target inventory report saw prices pull back a few cents. The February Nymex contract went on to settle 2.1 cents higher at $1.926/MMBtu after trading as high as $1.980. March settled at $1.904, up 0.4 cents.

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column as part of a regular series on understanding this process, written by Eduardo Prud’homme.

After dropping to four-year lows this week, natural gas futures rebounded modestly Wednesday amid little change in the weather outlook. The February Nymex contract inched 1.0 cent higher to settle at $1.905/MMBtu after trading as high as $1.942. March settled at $1.900, up 1.1 cents.

Local pricing indexes will develop in Mexico in the coming years as infrastructure interconnectivity and increasing liquidity become features in the natural gas market, according to experts who spoke earlier this month in Monterrey.

After dropping to four-year lows this week, natural gas futures rebounded modestly Wednesday amid little change in the weather outlook. The February Nymex contract inched 1.0 cent higher to settle at $1.905/MMBtu after trading as high as $1.942. March settled at $1.900, up 1.1 cents.