NATURAL GAS STORAGE The weather continues to be historically mild, with only occasional upticks that get erased quickly. There is no guarantee that next winter will continue to have record-breaking mild winters, and betting that we will continue to break the record for mild winters every year as we have the last two is a…
NATURAL GAS PRODUCTION Gas Production continues to remain strong at 104 Bcf/d. This could result from Chesapeake Energy’s cutback in production, but that production slowdown is expected to take a few months to have an effect. RUSSIAN PIPELINES TO THE E.U. Believe it or not, some natural gas still flows from Russia to the E.U.…
EIA NATURAL GAS STORAGE REPORT Only about five weeks are left in injection season, and we have solid storage numbers with a supply level of more than 22% over the five-year average. Expected storage by the end of injection season will be 1,800 Bcf, which is even better than last year’s numbers. NATURAL GAS TOTAL…
NATURAL GAS STORAGE The EIA reported a withdrawal of 49 Bcf out of underground storage for the week ending February 9, 2024, vs. an estimated withdrawal of 71 Bcf. Inventories are 2,535 Bcf, 255 Bcf or 11.2% more than the same period last year, and 348 Bcf or 15.9% more than the 5-year average. NATURAL…
NATURAL GAS: NYMEX CALENDAR STRIPS The cost of Natural Gas continues to drop over the 12 months, and injection season is just around the corner on April 1st. We have seen a trend in the last few years where the current year is priced lower than the following years. So, looking at Natural Gas and…
EIA: NATURAL GAS STORAGE REPORT With the cost of natural gas climbing due to the added cost of gas from the Middle East, US LNG producers are maxing out the capacity of LNG facilities to sell their products where they can make the most money. It’s a global market, and NG producers will try to…
EIA: NATURAL GAS STORAGE REPORT Winter Storm Heather that crossed the USA over the last few weeks significantly increased the demand for gas and electricity, and the freezing temperatures put a large dent in production. During Winter Storm Heather, production dropped from just over 105 bcf/d to over 90 bcf/d. This helped increase the large…
6-10 DAY AND 8-14 DAY OUTLOOK A warmer weather pattern will gain ground over the US next week with highs of 30s to 50s over the northern US and 50s to lower 80s over the southern US. There will also be heavy rain over Texas & the South next week w/local flooding. Natural gas demand…