Into The Vortex – Natural Gas Traders Outlook with Freeport LNG Impact

Natural gas futures closed slightly lower Friday with forecasts for warmer US spring temperatures that reduce heating demand weighing on prices. For the week benchmark futures were down 1.03%. Weak demand continues to pressure natural gas markets. Eyes are on updates from the Freeport LNG export terminal in Texas which recently reopened on a partial basis one of three production units that was shut down. However, Freeport said once the production unit is fully reopened, the other two units will … Continue reading “Into The Vortex – Natural Gas Traders Outlook with Freeport LNG Impact”

Natural Gas Price Slide Continues After EIA Reports Smaller Draw of -49Bcf – Into the Vortex

Natural gas prices continued to sell off after a smaller than expected storage draw. EIA reported natural gas storage in the U.S. last week came in less expected at -49Bcf in storage with consensus a draw of -68Bcf. For perspective in the same week last year stocks were -117Bcf, with a five-year (2017-2021) average -149Bcf. Henry Hub futures were down another 15% from falling 10.59% last week, after falling 4.4% the prior week. Headwinds include Weather forecasts, LNG exports, Freeport … Continue reading “Natural Gas Price Slide Continues After EIA Reports Smaller Draw of -49Bcf – Into the Vortex”

Into the Vortex – EIA Reports U.S. Natural Gas Stocks Fell 75Bcf Last Week

EIA reported natural gas storage in the U.S. last week a near expected -75Bcf in storage last week with the consensus was for a draw of -76Bcf. For perspective in the same week last year stocks were -208Bcf, with a five-year (2017-2021) average -193Bcf. Natural gas prices continue their fall, HH prompt sans $2.00. They fell again last week, Henry Hub futures for March delivery settled at $2.08 mbtu, up 1.4% on Friday but settled 4.4% lower for the week. … Continue reading “Into the Vortex – EIA Reports U.S. Natural Gas Stocks Fell 75Bcf Last Week”

Into the Vortex – U.S. Natural Gas Storage Draws -197 Bcf as Great Freeze Warms Up

EIA reported natural gas storage in the U.S. last week a less than expected -197Bcf in storage last week with the consensus was for a draw of -203Bcf. For perspective in the same week last year stocks were -141Bcf, with a five-year (2017-2021) average -185Bcf. The drastically cold temperatures & production freeze-offs have improved to where production is back to where i was mostly before the extreme cold. Natural Gas futures prices hover above lows with warmer temperature forecasts, US … Continue reading “Into the Vortex – U.S. Natural Gas Storage Draws -197 Bcf as Great Freeze Warms Up”

Into the Vortex – EIA Reports Third Biggest Natural Gas Storage Withdrawal Ever

EIA reported natural gas storage in the U.S. last week drew more than expected -326Bcf in storage last week with the consensus was for a draw of -320Bcf. For perspective in the same week last year stocks were -86Bcf, with a five-year (2017-2021) average -148Bcf. The drastically cold temperatures & production freeze-offs led to the third biggest natural gas storage withdrawal after -359Bcf in 2018 and -338Bcf in 2021. Natural Gas futures prices bounced off lows with lower production from … Continue reading “Into the Vortex – EIA Reports Third Biggest Natural Gas Storage Withdrawal Ever”

Into the Vortex – U.S. Natural Gas Storage Draws -154 Bcf Ahead of Great Freeze

EIA reported natural gas storage in the U.S. last week drew less than expected -154Bcf in storage last week with the consensus was for a draw of -163Bcf. NYMEX futures fell 4.5% lower after the data dropped. For perspective in the same week last year stocks were -68Bcf, with a five-year (2017-2021) average -126Bcf. The drastically cold temperatures & production freeze-offs are seen leading to a top 3 natural gas storage withdrawal for Jan 13-19. We have seen projections for … Continue reading “Into the Vortex – U.S. Natural Gas Storage Draws -154 Bcf Ahead of Great Freeze”

Into the Vortex – U.S. Natural Gas Storage Draws More Than Consensus -140 Bcf Last Week

EIA reported natural gas storage in the U.S. last week drew larger than expected -140Bcf in storage last week with the consensus was for a draw of -123Bcf. For perspective in the same week last year stocks were -87Bcf, with a five-year (2017-2021) average -219Bcf. This puts storage 436 Bcf above a year ago and 348 Bcf above the 5-year average. Natural gas futures volatility continued rising on the report than falling on warmer weather expectations. The last week has … Continue reading “Into the Vortex – U.S. Natural Gas Storage Draws More Than Consensus -140 Bcf Last Week”

Into the Vortex – US Natural Gas Storage Falls Less Than Consensus -14 Bcf Last Week

EIA reported natural gas storage in the U.S. last week drew a smaller than expected -14Bcf in storage last week with the consensus was for a draw of -32Bcf. For perspective in the same week last year stocks were -87Bcf, with a five-year (2017-2021) average -219Bcf. US LNG exports near record highs at 15.0 Bcfgpd, there was also record production this past week of 105.80 Bcf/d. Benchmark natural gas futures have rallied in the first week of 2024 with NYMEX HH … Continue reading “Into the Vortex – US Natural Gas Storage Falls Less Than Consensus -14 Bcf Last Week”

Into the Vortex – US Natural Gas Storage Draws More Than Consensus -87 Bcf Last Week

EIA reported natural gas storage in the U.S. last week drew a larger than expected -87Bcf in storage last week with the consensus was for a draw of -79Bcf. For perspective in the same week last year stocks were -195Bcf, with a five-year (2017-2021) average -123Bcf. Benchmark natural gas futures rallied around 4% on the report. This past week Henery Hub futures ran higher along with other commodities and risk assets after the Fed Pivot asset rally. The rally continued … Continue reading “Into the Vortex – US Natural Gas Storage Draws More Than Consensus -87 Bcf Last Week”

Into the Maelstrom – LNG and European Natural Gas Outlook for the Year End

The European and British natural gas futures fell back as winter brought snow to much of Europe this week. UK Gas closed at GBp/thm 86.0600 up +4.25% for the week after closing down -13.98%, -10.83% and -7.90% the prior weeks, and down -28.21% monthly. Dutch TTF futures closed around €34.17 per megawatt-hour, up +2.97% for the week after losing -14.01%, -11.26% and -6.78% the prior weeks, and down -27.03% monthly. For perspective European prices are still down more than 80% … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Year End”