Into The Vortex – Natural Gas Outlook as Geopolitical Tensions Heat Up

Natural gas futures were steady after the EIA reported the natural gas storage build in the U.S. last week came in as expected with +50Bcf in storage with consensus a build of +50Bcf. For perspective in the same week last year stocks were +61Bcf, with a five-year average +61Bcf. The withdrawal season has ended with stocks at the highest level in years. Notably oil futures fell for a fourth straight session as fears on the Iran/Israel Conflict fallout waned. Weak … Continue reading “Into The Vortex – Natural Gas Outlook as Geopolitical Tensions Heat Up”

Into The Vortex – Natural Gas Outlook in The Shoulder Season

EIA reported natural gas storage build in the U.S. last week came in more than expected at +24Bcf in storage with consensus a build of +14Bcf. For perspective in the same week last year stocks were +11Bcf, with a five-year average +24Bcf. The withdrawal season is ending with stocks at the highest level in years. On March 21 the EIA reported the first natural gas injection into storage of the 2024 season. U.S. natural gas dry production on Friday was … Continue reading “Into The Vortex – Natural Gas Outlook in The Shoulder Season”

Into The Vortex – Natural Gas Traders Quarterly Recap and Outlook.

EIA reported natural gas storage in the U.S. last week came in less than expected at -37Bcf in storage with consensus a draw of -43Bcf. Natural gas futures had an eye on this week’s EIA report to see if last week’s bullish miss follows through to this week. For perspective in the same week last year stocks were -29Bcf, with a five-year average -1Bcf. The withdrawal season is ending with stocks at the highest level in years. On March 21 … Continue reading “Into The Vortex – Natural Gas Traders Quarterly Recap and Outlook.”

Into The Vortex – Natural Gas Traders Outlook

EIA reported natural gas storage in the U.S. last week came in less than expected at -36Bcf in storage with consensus a draw of -28Bcf. For perspective in the same week last year stocks were -55Bcf, with a five-year average -37Bcf. Natural gas continues its mostly one-way train down with ETF holders the big losers as we have traded at 2020 lows and all-time lows when adjusted for inflation. With oil prices high associated continues to flood the market as … Continue reading “Into The Vortex – Natural Gas Traders Outlook”

European Natural Gas Prices End Year Down 76% from Panic Highs, Near Pre-Ukraine Invasion Levels

European natural gas prices closed out 2022 at €76/MWh up almost 14% for the year, well off the panic highs and back around levels seen prior to Russia’s invasion of Ukraine at €75. These prices are more than 75% below record levels of €350 seen in August. The Dutch TTE futures are down 76.8% from the peak of $103.55 at $23.96. A number of factors came into to play. The economic fallout in the eurozone downturn extended into its sixth … Continue reading “European Natural Gas Prices End Year Down 76% from Panic Highs, Near Pre-Ukraine Invasion Levels”

EIA Reports Natural Gas Storage Drew -21Bcf as Warmer Weather Curtailed Demand

EIA reported a less than expected draw of -21Bcf of working gas in storage last week. Salt Dome Cavern stocks grew +13Bcf from -4Bcf last week. The storage report reflected the move in natural gas futures dropping sharply last week on a number of factors. GEFS and Euro Ens weather models lost 50 bcf demand each in 24 hrs. We had congress intervene in the Rail strikes and Freeport LNG again delay the expected restart of its export plant into … Continue reading “EIA Reports Natural Gas Storage Drew -21Bcf as Warmer Weather Curtailed Demand”

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”

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”