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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Prices of Natural Gas Are Rising Greater Despite Cooler Weather and Growing LNG Exports

Natural gas prices rose by 0.65% to ₹262, driven by forecasts for cooler weather and increased heating demand. Rising gas flows to U.S. LNG export plants also supported the market. However, gains were limited as utilities reported smaller-than-expected storage withdrawals. The U.S. Energy Information Administration reported a 30 billion cubic feet withdrawal for the week…

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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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Natural Gas Increases After Utilities Removed an Anticipated 2 Bcf of Gas From Storage

Natural gas prices rose by 2.32% to ₹278.3, driven by a smaller-than-expected inventory withdrawal and forecasts of increased demand. The U.S. Energy Information Administration reported a 2 billion cubic feet withdrawal from storage for the week ending November 22, 2024, reducing U.S. gas inventories to 3,967 bcf, 3.5% higher than last year and 7.2% above…

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Reduction in Natural Gas as Production Increases, Storage Build Report Increases Supply

Natural gas prices fell by -0.75% to ₹237.5 due to increased daily production and higher-than-expected storage builds. The latest federal report showed utilities added 42 billion cubic feet of gas to storage for November 8, 2024, marking the fourth consecutive week of larger-than-usual injections. However, losses were limited by forecasts of colder weather, which is…

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Natural Gas

Natural gas eased amid forecasts of milder weather over the next two weeks

Natural gas prices fell 1.4% yesterday to settle at 197.6, as forecasts of milder weather over the next two weeks indicated less than normal heating demand. Meteorologists predict warmer-than-normal temperatures in the Lower 48 U.S. states through Nov. 1, which will reduce natural gas consumption. As a result, LSEG forecasts that average gas demand, including…

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