Into The Vortex – EIA Reports a Lower Natural Gas Build of 32Bcf with Scorching Summer Draws

In the US the EIA reported a lower-than-expected build of 32 Bcf of working gas in storage. The report sent natural gas futures sharply higher as they continue to recover after being sold off on the Freeport LNG explosion. Domestically scorching summer US temperatures overcame assumptions on Freeport LNG. Prices are also reacting to tightening European supplies on unplanned outages and Russian planning to halt supplies. These conditions are expected to persist through to upside risk with current weather patterning. … Continue reading “Into The Vortex – EIA Reports a Lower Natural Gas Build of 32Bcf with Scorching Summer Draws”

Into The Vortex – EIA Reports Natural Gas Build of 58Bcf with Scorching Temperatures and Humidity

US Natural gas futures reacted to scorching temperatures and humidity in the Southeast fueling robust cooling demand and seasonally warm temperatures permeating the northern third of the United States. These conditions are expected to persist for essentially normal demand through to upside risk. In the US last week, the EIA reported a higher-than-expected build of 58 Bcf of working gas in storage seeing natural gas futures reverse higher after being sold off sharply off weakness since the Freeport LNG explosion. The … Continue reading “Into The Vortex – EIA Reports Natural Gas Build of 58Bcf with Scorching Temperatures and Humidity”

World Natural Gas Production and Delivery the Modern Geopolitical Weapon

Access to secure natural gas production and delivery is a key determinate for European energy security as it moves aggressively to wean itself off Russian natural gas supplies. Russia has weaponized it’s energy exports. With the U.S. the world’s largest producer of natural gas American exports of liquefied natural gas are expected to remain strong for some time. EIA forecast in the June STEO that U.S. LNG exports will average 11.7 billion cubic feet per day (Bcf/d) during 2Q22 and … Continue reading “World Natural Gas Production and Delivery the Modern Geopolitical Weapon”

Into The Vortex – EIA Reports Natural Gas Storage Lower Than Expected Build of 60 Bcf

In the US last week, the EIA reported a lower-than-expected build of 60 Bcf of working gas in storage seeing natural gas futures reverse higher after being sold off sharply off weakness since the Freeport LNG explosion. Attention turning to heat and Hurricanes. LNG is capped by how much you can ship, hence the Freeport impact. With Germany the epicenter of Russian gas bans the real threat of demand destruction is plain for all to see. Germany’s trade balance came in … Continue reading “Into The Vortex – EIA Reports Natural Gas Storage Lower Than Expected Build of 60 Bcf”

Energy Crisis Pushes German Gas Giant Uniper SE To Seek 9 Billion Euro Bailout

Germany is being rocked by the Energy crisis and its reliance on cheap Russian gas. Since Russia’s invasion of Ukraine, the Germans vulnerability has been exposed and it is a disaster. German gas giant Uniper SE is in talks with the government over a potential bailout package of as much as 9 billion euros Bloomberg reports. Analysts estimate that curbed Russian flows are costing Uniper 30 million euros a day. We see it in trade, Germany’s trade balance came in at minus €1bn in … Continue reading “Energy Crisis Pushes German Gas Giant Uniper SE To Seek 9 Billion Euro Bailout”

Into The Vortex – Natural Gas Storage Builds Larger Than Expected 82 Bcf on Freeport LNG Shut Down

The EIA reported a higher-than-expected build of 82 Bcf of working gas in storage last week. Natural gas futures sold off sharply off the report adding to the weakness since the Freeport LNG explosion, futures broke the support around $6 Btu as attention turns to heat and Hurricanes. Germany continues to be at the epicenter of Russian gas bans, LNG is capped by how much you can ship, hence the Freeport impact. The needs to assess to clarify the implications … Continue reading “Into The Vortex – Natural Gas Storage Builds Larger Than Expected 82 Bcf on Freeport LNG Shut Down”

Into The Vortex – EIA reports Natural Gas Storage Builds Higher Than Expected 74 Bcf with Freeport LNG Impact

Natural gas futures continued selling off after EIA reported higher than expected build of 74 Bcf of working gas in storage last week. The Henry Hub futures have been selling off as the markets assesses the implications of a potentially prolonged outage at the Freeport liquefied natural gas (LNG) terminal. Freeport officials indicate the terminal would remain shut down for at least three weeks. This implies gas will flow to domestic consumption or into storage. Markets will be back to … Continue reading “Into The Vortex – EIA reports Natural Gas Storage Builds Higher Than Expected 74 Bcf with Freeport LNG Impact”

Into The Vortex – EIA Reports Natural Gas Storage Rose 92 Bcf, 323 Bcf Below Five Year Average

Natural gas futures continue to be choppy as the markets assesses the implications of a potentially prolonged outage at the Freeport liquefied natural gas (LNG) terminal. Freeport officials indicate the terminal would remain shut down for at least three weeks. This implies gas will flow to domestic consumption or into storage. With markets back to worrying about a hot summer and hurricane season the EIA reported a build of 92 Bcf of working gas in storage last week. Prior to the … Continue reading “Into The Vortex – EIA Reports Natural Gas Storage Rose 92 Bcf, 323 Bcf Below Five Year Average”

Into The Vortex – EIA Reports Natural Gas Storage Added 97 Bcf as LNG Exports Grow

Natural gas futures fell dramatically ahead of this week’s storage report after an explosion at the Freeport LNG facility from HH over $9.50 Btu to under $8 ahead of the report stabilizing to $8.25. The moves heighten the risk and volatility in the commodity. With markets back to worrying about a hot summer and hurricane season the EIA reported a build of 97 Bcf of working gas in storage last week. With the global energy crisis LNG exports continue to grow … Continue reading “Into The Vortex – EIA Reports Natural Gas Storage Added 97 Bcf as LNG Exports Grow”

Into The Vortex – EIA Reports Natural Gas Storage Added 90 Bcf as Temperatures Heat Up

Natural gas futures pulled back after they soared heading into the weekly storage report after production on Wednesday declined 2.4 Bcf day/day. Bloomberg data showed big production drops in several regions. The Haynesville was down over 5% day/day, Midcontinent down 3.5%. Appalachia and Rockies output down 3%. Total output was seen at around 94.5 Bcf. With markets back to worrying about a hot summer and hurricane season the EIA reported a build of 90Bcf of working gas in storage. With the … Continue reading “Into The Vortex – EIA Reports Natural Gas Storage Added 90 Bcf as Temperatures Heat Up”