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oil and natural gas

US natgas futures hold near one-week high ahead of storage report
Markets

US natgas futures hold near one-week high ahead of storage report

  • On its first day as the front-month, gas futures for July delivery fell 2.9 cents, or 1.0%, from where the July contract closed on Wednesday to $2.998 per million British thermal units.
  • US pipeline exports to Mexico, meanwhile, averaged 6.0 bcfd so far in May, just off April's monthly record of 6.1 bcfd, Refinitiv data showed.
Published 27 May, 2021 06:39pm
US natgas futures slip to 3-week low on big storage build
Markets

US natgas futures slip to 3-week low on big storage build

  • The US Energy Information Administration (EIA) said US utilities added 71 billion cubic feet (bcf) of gas into storage during the week ended May 14.
  • That injection boosted stockpiles to 2.100 trillion cubic feet (tcf), or 4.0% below the five-year average of 2.187 tcf for this time of year.
Published 20 May, 2021 09:10pm
US natgas futures slip on mild weather forecast, exports decline
Markets

US natgas futures slip on mild weather forecast, exports decline

  • Traders noted gas prices were also following oil futures lower. US crude fell more than $2 a barrel on renewed global demand concerns as coronavirus cases in Asia rise, among other things.
  • Front-month gas futures fell 4.2 cents, or 1.4%, to $2.970 per million British thermal units.
Published 19 May, 2021 08:15pm
US natgas futures soar to 3-month high on rising air conditioner use
Markets

US natgas futures soar to 3-month high on rising air conditioner use

  • Front-month gas futures rose 16 cents, or 5.4%, to $3.121 per million British thermal units (mmBtu) .
  • Data provider Refinitiv said gas output in the Lower 48 US states averaged 90.9 billion cubic feet per day (bcfd) so far in May, up from 90.6 bcfd in April, but still well below November 2019's monthly record of 95.4 bcfd.
Published 17 May, 2021 08:52pm
US natgas flat as higher oil prices offset milder weather
Markets

US natgas flat as higher oil prices offset milder weather

  • Front-month gas futures remained unchanged at $2.958 per million British thermal units.
  • US crude futures, meanwhile, rose over $1 a barrel earlier in the day on signs of a speedy economic recovery and upbeat forecasts for energy demand.
Published 12 May, 2021 06:29pm
US natgas rises to fresh 9-wk high on record exports
Markets

US natgas rises to fresh 9-wk high on record exports

  • On its last day as the front-month, gas futures for May delivery rose 2.4 cents, or 0.8%, to $2.897 per million British thermal units.
  • That increase kept the front-month in overbought territory with a Relative Strength Index (RSI) over 70 for a third day in a row for the first time since August 2020.
Published 28 Apr, 2021 08:42pm
US natgas futures up to 7-week high on small storage build
Markets

US natgas futures up to 7-week high on small storage build

  • The US Energy Information Administration (EIA) said utilities added 38 billion cubic feet (bcf) of gas into storage during the week ended April 16.
  • That was less than the 49-bcf build analysts forecast in a Reuters poll and compares with an increase of 47 bcf in the same week last year and a five-year (2016-2020) average increase of 37 bcf.
Published 22 Apr, 2021 07:52pm
US natgas futures rise to one-week high on cooler forecasts
Markets

US natgas futures rise to one-week high on cooler forecasts

  • Traders also noted that mild weather this week will likely cause utilities to boost injections into storage by so much that the total amount of gas in inventory will rise above the five-year (2016-2020) average for the first time since the February freeze.
  • Front-month gas futures rose 1.9 cents, or 0.8%, to $2.541 per million British thermal units.
Published 09 Apr, 2021 06:56pm
US natgas futures slide ahead of expected small storage withdrawal
Markets

US natgas futures slide ahead of expected small storage withdrawal

  • If correct, last week's decrease would cut stockpiles to 1.776 trillion cubic feet (tcf), which would be 5.3% below the five-year average of 1.875 tcf for this time of year.
  • Front-month gas futures fell 3 cents, or 1.2%, to $2.498 per million British thermal units.
Published 18 Mar, 2021 08:34pm
Exxon and Macquarie in $11.7mn US lawsuit over gas contract
Business & Finance

Exxon and Macquarie in $11.7mn US lawsuit over gas contract

  • Exxon is asking the Texas court to rule that the massive storm, caused when an arctic air mass swept the central United States, was a natural disaster.
  • US gas demand and prices soared last month when freezing temperatures hit as far south as Texas, where 4.3 million homes lost power.
Updated 04 Mar, 2021 09:52pm
US drillers add oil and gas rigs for fourth month: Baker Hughes
Markets

US drillers add oil and gas rigs for fourth month: Baker Hughes

  • The oil and gas rig count, an early indicator of future output, rose 10 to 320 in the week to Nov. 25, energy services firm.
  • There was a single week decline in oil drilling activity (last week) going against the recent trend in higher drilling activity.
Published 26 Nov, 2020 12:28am