Natural gas prices in Europe and the UK continued to slide as did LNG futures in the past week. Fast LNG send out, gas stockpiles and weak demand have steadily weighed on prices. European benchmark Dutch TTF prompt natural gas futures traded at €24.52/MWh Friday continuing its slide under €30/MWh after closing €29.30/MWh Monday, its lowest for any day since 17 June 2021. TTF is down 18.74% for the week, UK gas down 16.09%. In comparison the US benchmark HH … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Vortex – Natural Gas Traders Outlook for The Week Ahead
US benchmark Henry hub futures pulled back 6.56% after it rose 14.12%, after weather and production updates futures prices pulled back somewhat. HH is now down -72.27% year on year. EIA reported a below consensus net build of +96 Bcf from storage last week. In the same week last year stocks were +89Bcf, with a five-year (2017-2021) average +96Bcf. Salt Dome Cavern stocks rose +4 Bcf after rising +3 Bcf last week. Natural gas prices in Europe and the UK … Continue reading “Into the Vortex – Natural Gas Traders Outlook for The Week Ahead”
Into the Vortex – EIA Reports U.S. Natural Gas Inventories Rose 96Bcf Last Week
EIA reported a below consensus net build of +96 Bcf from storage last week. In the same week last year stocks were +89Bcf, with a five-year (2017-2021) average +96Bcf. Salt Dome Cavern stocks rose +4 Bcf after rising +3 Bcf last week. After weekend weather and production updates futures prices pulled back somewhat. Benchmark Henry Hub futures were sharply higher last week to the highest in over two months, rising 14.12% for the week, following last week’s 6.39%. The biggest … Continue reading “Into the Vortex – EIA Reports U.S. Natural Gas Inventories Rose 96Bcf Last Week”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
Fast LNG send out, gas stockpiles and weak demand have steadily weighed on prices. European benchmark Dutch TTF prompt natural gas futures traded at €27.78/MWh Tuesday continuing it’s slide under €30/MWh after closing €29.30/MWh Monday, its lowest for any day since 17 June 2021. Gas stockpiles in northwestern Europe (Belgium, France, Germany and the Netherlands) were currently about 56% of capacity, about 63% above its five-year (2018-2022) average for this time of year, Refinitiv said. The move in TTF gas … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Dutch TTF Natural Gas Below €28/MWh, Lowest Since 17 June 2021
European benchmark Dutch TTF prompt natural gas futures traded at €27.78/MWh Tuesday continuing it’s slide under €30/MWh after closing €29.30/MWh Monday, its lowest for any day since 17 June 2021. The move follows Europe TTF gas being down -7.91% last week, and down -65.67% year on year and in the UK natural gas was down -10.67%, down -54.16% year on year. US benchmark Henry hub rose 14.12%, but still now down -68.35% year on year. Gas stockpiles in northwestern Europe … Continue reading “Dutch TTF Natural Gas Below €28/MWh, Lowest Since 17 June 2021”
Into the Vortex – U.S. Natural Gas Futures Rally on Lower-Than-Expected Build in Inventories
EIA reported a below consensus net build of +99 Bcf from storage last week which sent the Benchmark Henry Hub futures sharply higher to the highest in two months. U.S. benchmark natural gas futures have continued to hold their bid after rising last week recovering some of the prior week’s constant selling to close up over 6% for the week as U.S. production fell and rigs counts were sharply lower. Further prices were driven by reduced gas exports from Canada … Continue reading “Into the Vortex – U.S. Natural Gas Futures Rally on Lower-Than-Expected Build in Inventories”
Into the Vortex – U.S. Natural Gas Storage Increased 78 Bcf Last Week EIA Reports
EIA reported a near consensus expected net build of +78 Bcf from storage last week. In the same week last year stocks were +76Bcf, with a five-year (2017-2021) average +87Bcf. Salt Dome Cavern stocks rose +9 Bcf after rising +3 Bcf last week. Ahead of the latest storage report natural gas futures ended a 3-day bounce from another brutal week as production picked up sending cash prices lower. Last week US benchmark Henry hub fell -12.26% for the week, now … Continue reading “Into the Vortex – U.S. Natural Gas Storage Increased 78 Bcf Last Week EIA Reports”
Natural Gas Futures Slide Continues After EIA Reports Gas Storage Added 54 Bcf
EIA reported a bigger than consensus expected net build of +54 Bcf from storage last week. In the same week last year stocks were +72Bcf, with a five-year (2017-2021) average +78Bcf. Salt Dome Cavern stocks rose +3 Bcf after rising +9 Bcf last week. Natural gas futures continue to drift lower with the rest of the energy complex. Last week reminded all of the short lived risk and volatility attached when it popped over 10% on news lightning struck the … Continue reading “Natural Gas Futures Slide Continues After EIA Reports Gas Storage Added 54 Bcf”
Into The Vortex – EIA Reports U.S. Natural Gas Stocks Rose +79 Bcf
EIA reported a bigger than consensus expected net build of +79 Bcf from storage last week. In the same week last year stocks were +42Bcf, with a five-year (2017-2021) average +43Bcf. Salt Dome Cavern stocks rose +9 Bcf after rising +5 Bcf last week. Benchmark Hub futures May Nymex Natural gas futures sold off after the report marginally after profit taking ahead. LNG demand is driving natural gas demand. Average gas flows to the seven big U.S. LNG export plants … Continue reading “Into The Vortex – EIA Reports U.S. Natural Gas Stocks Rose +79 Bcf”
Into The Vortex – EIA Reports U.S. Natural Gas Stocks Added 75 Bcf Last Week
EIA reported a bigger than consensus expected net build of +75 Bcf from storage last week. In the same week last year stocks were +47Bcf, with a five-year (2017-2021) average +41Bcf. Salt Dome Cavern stocks rose +5 Bcf drew -2 Bcf last week. Benchmark Hub futures May Nymex Natural gas futures sold off after the report after profit taking ahead, we had seen a rally with production holding below 100 Bcf/d, strong power burns and near-record LNG demand driving gas … Continue reading “Into The Vortex – EIA Reports U.S. Natural Gas Stocks Added 75 Bcf Last Week”