Although the NYMEX price for natural gas took a plunge yesterday due to news that the country’s second-largest LNG export… Continue reading The post Spot Price for NatGas in Marcellus/Utica Soars, Up 209% in May first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...Each month the U.S. Energy Information Administration (EIA) issues a monthly Short-Term Energy Outlook (STEO). Last month, in May, the… Continue reading The post EIA’s STEO Predicts Henry Hub Gas Price to Avg $8.69 in 3Q22 first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...In what is being called an “explosive” trading session yesterday, the price for the front-month NYMEX contract (July) spiked up… Continue reading The post NYMEX Gas Price Huge Spike of $0.80, Flies by $9, Heading for $10 first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...Just two weeks ago we reported on the historical, insanely high natural gas spot prices being paid across the country (see Cash NatGas Price in Oklahoma Hits $999/MMBtu; M-U Thru Roof Too). The price of gas traded at $1,200/MMBtu at one point in Oklahoma. Insane! Prices here in the M-U went sky-high too. But all
Read More...On Monday of this week we reported about natural gas withdrawals from underground storage for the week ending Feb. 12, which were the twelfth largest on record since 2010 and the biggest one-week withdrawal in the past two years (see Biggest Withdrawal from Underground NatGas Storage in 2 Years). Yesterday withdrawal numbers came out for
Read More...The spot price (cash paid for immediate delivery) of natural gas at trading hubs across the country, including in the Marcellus/Utica, continues to hit new highs not seen in over a year. Even though the longer-range NYMEX futures price isn’t moving all that much. Pay no attention to the futures price! Look at the spot
Read More...Analysts at S&P Global Platts say that with the current cold snap underway in the northeast, already decreasing natural gas production from the Marcellus/Utica may accelerate with wellhead freeze-offs. Sometimes in colder temps (hey, it was 2 degrees at MDN HQ this morning) water and other liquids in the gas can freeze and block the
Read More...click for larger version Although a true polar vortex has not yet visited the northeastern U.S. as previously predicted, temperatures in the northeast have fallen and are forecast to be the lowest so far this winter in the next few days. Due to lack of natural gas pipelines to New York and New England, the
Read More...click for larger version The spot price of natural gas selling at the benchmark Henry Hub in southern Louisiana has been creeping up ever so gradually, but it’s still nothing to write home about (closed at $2.75 yesterday). However, the spot price at two of our favorite M-U locations to track–Dominion South (in southwestern PA)
Read More...click for larger version The last time a major polar vortex visited the northeastern United States was in January 2018, and it created such a huge demand for natural gas that Boston had to import Russian LNG to meet demand (see Confirmed: LNG Coming to Boston on Jan 22 is Illegal Russian Gas). Last January
Read More...click for larger version Demand for natural gas in the northeastern United States, along with the spot price for gas, has surged over the past few days, for one simple reason: the weather. Those of us living in the northeast are about to get clobbered by a classic nor’easter snowstorm that’s due to drop two
Read More...Earlier this week the NYMEX natural gas futures contract for December rolled off and the January contract became the “front contract” being traded. The latest storage numbers–how much gas has *not* been withdrawn from storage–combined with weather forecasts and computerized trading to hammer prices. Natgas was down 10 cents on Wednesday, and down another 27
Read More...We’ve been tracking the daily price of the NYMEX December futures contract at the South Louisiana Henry Hub on and off for the past few months. Yesterday it closed down again, at $2.86/Mcf (or MMBtu). However, the “spot price” for gas–actual physical gas bought and sold at various trading points along pipelines–has all but crashed
Read More...Last week we were jazzed when noticed the price of natural gas at the NYMEX Henry Hub had soared, up over $0.30 to $3.30/Mcf (see NYMEX Henry Hub NatGas Price Shoots Up to $3.30 for December). Apparently what goes up that quickly can down just as quickly. Yesterday the price closed at $3.05/Mcf. Why?This post
Read More...When checking the NYMEX futures price for natural gas, which is based on the spot price at the Henry Hub in southern Louisiana, we had a surprise. Just a few days ago the NYMEX was showing right around $3 per million BTUs (or per Mcf, thousand cubic feet). Yesterday the price closed at $3.30/Mcf. Why
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