Natural gas fell since output was close to a record and consumption was predicted to decline the next week

Natural gas prices fell by 3.31% to 373.9, driven by near-record output and mild weather forecasts. However, the downside was mitigated by record LNG export flows and concerns over potential reductions in gas exports from Canada following US tariffs on Canada and Mexico. Lower 48 US states saw production increase to 105.5 bcfd in March,…

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Reduced gas flows to the country’s LNG export facilities caused a decline in natural gas

Natural gas prices dropped by 0.63% to ₹285.7 due to increased U.S. production and reduced tariff risks. President’s suspension of tariffs on Canada and Mexico reduced import costs, reducing price support. Average U.S. gas output rose to 106.0 bcfd in February, but daily production dropped to 105.1 bcfd. Weather remains a key driver, with forecasts…

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Natural gas benefits from robust LNG exports and a strong storage draw

Natural gas prices rose by 4.5% to ₹299.6 due to a larger-than-expected storage draw, with the U.S. Energy Information Administration (EIA) reporting a withdrawal of 190 billion cubic feet from storage for the week ending December 6. Despite the decline, storage levels remain 1.8% higher year-over-year and 4.6% above the five-year average. Gas flows to…

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Reduced Heating Demand Reduces Pressure on Natural Gas

Natural gas prices fell by 3.39% to settle at ₹273.6, driven by easing heating demand despite colder-than-normal weather. Weather forecasts suggest a shift from colder-than-normal to near-normal levels from December 4-12, reducing the pressure on utilities to draw heavily from storage. Production levels in the U.S. remain robust, with an average of 101.4 billion cubic…

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crude oil

Crude oil increased due to higher-than-expected fuel demand in the US

Crude oil prices rose by 2.83% to 5,988, driven by higher-than-expected US fuel demand and OPEC+’s potential delay in an output hike. U.S. gasoline inventories reached a two-year low, while crude inventories drew down by 0.515 million barrels, contrasting with a 2.3 million-barrel build. Cushing, Oklahoma crude stocks rose by 0.681 million barrels. The U.S….

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As warmer weather is predicted for the next two weeks, natural gas prices rise

Forecasts of warmer-than-usual weather over the next several weeks are expected to generate higher demand for air cooling, which helped natural gas prices rise by 2.94% yesterday and settle at 196. The weather forecast encouraged market optimism because rising temperatures usually lead to a greater requirement for electricity generation for cooling purposes, increasing natural gas…

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