U.S. natural gas and power prices hit multi-year highs on Friday with the prospect of frigid temps and snow storms in various portions of the country. The extreme cold was expected to bring record gas demand and cut supplies by freezing wells. The spot price of natural gas at various trading hubs from the West…
Read More...The U.S. Energy Information Administration (EIA) published a post yesterday on the agency’s newly revamped Today in Energy website to announce it expects the Henry Hub natural gas spot price to average under $3.00/MMBtu in 2024 and 2025. What joyous news (not). The post explains the reasoning and thinking of EIA analysts and why they…
Read More...Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. The EIA issued the January STEO yesterday. Among its latest predictions is that the growth rate for natural gas production will slow this…
Read More...Yes, we’ve noticed. The Henry Hub NYMEX futures price for natural gas soared yesterday. It has been on an upward trend for the last six trading days in a row. Yesterday, the NYMEX price jumped $0.21 (6.6%) to close at $3.19 per MMBtu. Spot (physical) prices have also moved higher. What’s causing it? And will…
Read More...EQT CEO Toby Rice appeared on CNBC’s ‘Money Movers’ program last Friday to discuss what he expects for natural gas prices this year, what lower natural gas production means for EQT, and more. It was an interesting segment (watch it below; it is just four minutes long). Rice said, among other things, that a key…
Read More...The U.S. Energy Information Administration (EIA) is out with official numbers for 2023 concerning the price of natural gas traded at the benchmark Henry Hub in southern Louisiana. The Henry Hub natural gas price averaged $2.57 per million British thermal units (MMBtu) in 2023, about a 62% drop from the 2022 average annual price. Bear…
Read More...It is that time of year when various analysts, agencies, organizations, and everyone else offer their predictions for 2024. When it comes to what will happen with the price of natural gas, we like to select various predictions that we think are interesting and offer a view we find compelling. We spotted such a prediction…
Read More...DBRS Morningstar is a leading provider of independent rating services and opinions for corporate and sovereign entities, financial institutions, and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, DBRS Morningstar is the fourth-largest credit rating agency in the world and a market leader in Canada, the U.S. and Europe in multiple…
Read More...It seems like everybody and his brother (and sister) are making predictions about where the price of natural gas will go in 2024. We’ve covered predictions from a number of sources, including the venerable U.S. Energy Information Administration (EIA). But what do the people who actually trade in natural gas say? What’s their take on…
Read More...Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. Last month, the report predicted the price for Henry Hub natural gas futures would average $3.40 this winter (see EIA Predicts Henry Hub…
Read More...The commodity price for natural gas, as expressed by the NYMEX Henry Hub futures contract (for January), fell 10.5% in early trading yesterday before finally closing at $2.43/MMBtu, down 15 cents (6.17%) from the previous day. Why the big drop when prices are already low? Lack of demand due to warm weather. In fact, according…
Read More...An interesting dichotomy we sometimes (but don’t often) see: The NYMEX Henry Hub futures price is down (below $3/MMBtu) and heading lower, while spot prices (physical trading) of natural gas at various trading hubs around the country are going higher, especially in the Northeast. In both cases — the futures price and the spot price…
Read More...Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. Last month, the report predicted new all-time highs for natural gas production in 2023 (see EIA Boosts Prediction for Record-High NatGas Prod. 2023…
Read More...Veteran equity oil and gas analyst Jeff Robertson, managing director with Water Tower Research (WTR), recently compiled an outlook report with the 5 trends he says are poised to have the biggest impact on the energy sector next year. WTR was kind enough to share it with MDN. One of Robertson’s predictions involves a Henry…
Read More...CME Group, which operates the Chicago Mercantile Exchange and New York Mercantile Exchange (NYMEX), announced in September that it would launch Micro Henry Hub futures and options beginning November 6 (see CME Group Launching “Micro” Henry Hub Futures & Options Nov. 6). The launch happened, and in under three days, Micro Henry Hub futures surpassed…
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