(Investing) – Wall Street analysts are mixed on U.S. natural gas outlook as near-term price weakness is expected to be offset by strong long-term demand growth driven by liquefied natural gas (LNG) exports and rising power needs globally. Natural gas prices have declined sharply in recent months, with benchmark Henry Hub prices down about 28% year-to-date, as a mild end to
(Oil Price) – U.S. natural gas prices surged sharply on Tuesday, posting one of the largest single-day gains seen this winter as the market quickly repriced near-term supply risk. Front-month Henry Hub futures spiked more than 25 percent and briefly traded near $3.90 per million British thermal units. It is a level not seen in weeks. The immediate driver is the weather. Forecast
(Investing) – A cold start to winter and record liquefied natural gas (LNG) flows have helped drive a strong rally in prices since mid-October, said analysts at Morgan Stanley, seeing further upside ahead. At 08:55 ET (13:55 GMT), natural gas prices fell 0.5% to $4.968 per million British thermal units, or MMBtu, but are up over 17% over the course of
(Oil Price) – U.S. natural gas inventories are higher than average for this time of the year as America has entered the proper winter heating season with stocks at their highest level since 2016, the Energy Information Administration (EIA) said on Monday. Working natural gas in storage in the Lower 48 states ended the natural gas injection season with 3,922 billion cubic feet
Oil Price Despite multi-year low natural gas prices in the United States, domestic producers continue to be optimistic about the long-term prospects of gas as a fuel, both in America and abroad. The current oversupply in the U.S. natural gas market is set to ease in the coming months as many operators are curtailing production in response to the February
Cheniere Energy, Inc. (ticker: LNG) has entered into two LNG sale and purchase agreements (SPA) with China National Petroleum Corporation (CNPC). Under the SPAs with Cheniere’s subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Marketing International LLP, CNPC subsidiary PetroChina International Company Limited will purchase approximately 1.2 million tons per annum of LNG, with a portion of the supply beginning in
U.S. producers enjoy higher prices due to international customers for LNG export cargoes; Canadian gas becoming increasingly stranded – report A lack of market choice for Canadian natural gas led to increased volatility and depressed prices over the summer, creating a higher-than-usual differential with the price of U.S. natural gas, according to the latest oil and gas price forecast by
Discount to Henry Hub has Narrowed The spread between natural gas prices at Henry Hub and pricing in the hubs around the Marcellus has been indicative of the supply glut and the status of infrastructure in the area. Henry Hub in Louisiana acts as the main trading point for natural gas in the U.S., but natural gas from the Utica
Don’t Expect a Rebound: Warm Winter Expected to Keep Prices in Check Henry Hub prices in 2015 averaged $2.61/MMBtu, marking the lowest level of the millennium to date and are roughly 70% below the average price level in 2008, according to data from the Energy Information Administration (EIA). Prices dipped below $2.00/MMBtu for the first time in three years near
The timing may have taken longer than expected, but natural gas prices are finally on the rise. Spot prices for Henry Hub closed at $2.37 on December 29, 2015, marking a six week high and the third straight day of gains in excess of 5%. Henry Hub spot prices have now gained at least 5% in four of the last
Every year, oil and gas companies are required by the Securities Exchange Commission (SEC) to report their proved oil and gas reserves. By reporting these reserves, companies give their investors a meaningful understanding of the resources the company controls that it believes it could economically produce, establishing the size of the company’s reserves. To qualify under SEC guidelines as “proved
The meteoric production rise of the Marcellus and Utica Shales has shifted the playing field of the natural gas market and changed the United States energy landscape. While the recent commodity swing has finally forced U.S. oil production to least plateau (for the time being), the Appalachia has delivered consistent year-over-year growth ever since horizontal drilling truly took off in
