With record production, abundant storage, and less demand, natural gas had a significant 5.25% decrease, ending at 223.9. Contrary to the predicted withdrawal, the U.S. gas storage system saw an unexpected 10 Bcf addition. This surprised the market, especially considering the large departure from last year’s numbers. The negative outlook was reinforced by weather predictions…
Natural gas prices significantly dropped in the previous session, falling by 4.1% to close at 245.8, mostly as a result of a number of market-affecting events. The main causes of this bearish trend were record-high natural gas production, warm weather, and a larger-than-expected storage build. US utilities added 97 billion cubic feet (bcf) of natural…
After a federal report confirmed a storage build in line with market expectations, natural gas had a sharp decline of -3.61%, settling at 218. U.S. utilities increased their gas storage by 64 billion cubic feet (bcf), closely matching the predicted 67 bcf increase, according to the EIA (U.S. Energy Information Administration). A 10-week low of…
On expectations that demand will fall as the extreme heat wave that has been engulfing much of the central region of the country and Texas begins to subside, natural gas yesterday declined by -0.29% to 209.3. Extreme heat increases the quantity of gas burnt to generate cooling power, notably in Texas, which derives the majority…
Natural gas rose Wednesday by 3.38% to settle at 192.6, helped by increased demand and decreased supply. The demand for gas to generate electricity for air conditioning is projected to increase due to a predicted heatwave from 21 to 28 June. The domestic output is also decreasing from May’s record high of 102.5 bcfd. On…
Nat Gas yesterday increased by 2.95% to settle at 191.8 due to the prediction for hotter-than-normal weather in mid-to-late June, a decline in U.S. daily output, higher exports to Mexico, and low wind energy requiring generators to use more gas to make electricity. The price hike occurred despite maintenance-related decreased gas flows to liquefied natural…
The government faces the tough task of deciding on domestic gas prices as the date for the biannual exercise for fixing the prices approaches on September 30. According to sources, prices would likely increase by $9 to $10 per million British thermal units if the government implemented the administered price mechanism (APM) (MBtu). The price…
GECF firmly believes that natural gas, through its abundant, affordable, and clean hydrocarbons, plays a key role in energy conversion, while supporting progress in many sustainable development dimensions, including the protection of ecosystems, human health, and the economy. The Gas Exporting Countries (GECF), a government-coalition partnership of 19 of the world’s leading gas producers, represents…
