Long-range forecasts for hot weather and a lighter-than-predicted storage report for natural gas led to a 6% spike up in the price of the NYMEX Henry Hub yesterday, closing at $2.76/MMBtu. The National Weather Service released modeling yesterday that shows hot temps will get hotter for the end of July and the beginning of August….
Read More...Even with much of the nation in an extreme heat event making record demands on gas-fired power plants, demand for natural gas appears to be nominal at best, and consequently, the price of natural gas, at least the Henry Hub NYMEX futures price, remains mired in the mid-$2 range. The NYMEX price was down again…
Read More...One of the factors in the price of natural gas is supply. Gas is about as pure a commodity market as you will find worldwide. Higher demand with the same or less supply will drive prices higher. And the reverse is true. Higher supplies with the same or less demand lead to lower prices. Last…
Read More...Last week we told you that the shale production situation in Pennsylvania has caught the eye of the number crunchers at the U.S. Energy Information Administration (see EIA Observes M-U Gas Production Flat, Key PA Counties in Decline). Production in PA, overall, is flat and possibly decreasing. Nationally, production is up in other plays and…
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 EIA predicted an average price at the Henry Hub of $2.66/MMBtu for 2023, and $3.42/MMBtu for 2024 (see EIA Slashes…
Read More...We keep a close eye out for any credible news predicting which way the price of natural gas will head in the near and longer term. Everyone has an opinion about whether natgas will go higher, go lower, or stay the same–and why. Nobody could predict what would happen last year after Vladimir Putin declared…
Read More...The Henry Hub price of natural gas (even physically traded spot prices around the country) are ever-so-gradually moving higher. Yes, we’re cheerleaders for higher natgas prices! (Not too high, but certainly higher than the current $2-$3 range.) Even though we’re pro-gas and cheerleaders for higher prices (we openly admit our bias), we’re also realists, and…
Read More...A Rystad Energy analyst says strong supplies and cool temps kept the price of natural gas low over the past few months–but that’s about to change. Rystad says new modeling shows a bump up in temps coming, and with it, a bump in the price of domestic natural gas. How much? Rystad believes the Henry…
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… Continue reading The post EIA Slashes 2023/24 NatGas Price Prediction in June STEO Report first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...Last week the Pennsylvania Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report for January through March… Continue reading The post IFO Report: Big Decrease in PA Shale Production, Drilling in 1Q23 first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...Although last week saw a nice increase in the futures price for natural gas (the NYMEX front month contract for… Continue reading The post As NatGas Production Stays High & Wx Moderate, Henry Hub Drops 8% first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...The American Council for Capital Formation (ACCF) is a nonprofit, nonpartisan economic policy organization that tilts to the conservative side…. Continue reading The post ACCF Study Finds Building More Pipes Decreases NatGas Price by 10% first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...Yesterday the NYMEX Henry Hub futures price of natural gas spiked nearly 10% (9.6%)–in a single day. It closed at… Continue reading The post NYMEX Gas Price Leaps 9.6% to Close at 2-Month High of $2.59 first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...Yesterday the commodity price of the Henry Hub natural gas benchmark (the NYMEX front-month futures price) popped by 5%, rising… Continue reading The post NatGas Commodity Price Up 5% Yesterday – Is the Trend Our Friend? first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...John Love, who used to manage the United States Natural Gas Fund (the country’s biggest natural gas ETF), said in… Continue reading The post Big NatGas Investor Says Commodity Price has Bottomed, Going Higher first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
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