|Day's Range||2.68 - 2.71|
On October 10–17, our list of natural gas–weighted stocks fell 0.3%, while natural gas November futures rose 1.1%. On average, natural gas–weighted stocks underperformed natural gas futures during this period.
The natural gas–weighted stocks under review that are sensitive to US crude oil November futures’ movements based on their correlations with US crude oil November futures in the last five trading sessions are: Chesapeake Energy (CHK) at 92.2% Southwestern Energy (SWN) at 88.7% Gulfport Energy (GPOR) at 86.6% Cabot Oil & Gas (COG) at 79.7% Antero Resources (AR) at 78.6%
As the United States and Saudi Arabia feud escalates, Aramco is looking to invest in Russia’s Arctic LNG project, complicating the geopolitical landscape further
The Nasdaq Commodities exchange will delist its remaining fuel oil contracts that are expiring in 2019 and launch a new natural gas monthly future contract in France and options for the German only electricity market in November, it said on Thursday. The planned delisting is the last step in the complete closure of the current fuel oil product offering at Nasdaq Commodities, the exchange said. The new French natural gas contract is planned to go live for trading and clearing on November 1, while the European style options for the German only electricity market yearly and monthly contracts should come on November 19, Nasdaq Commodities said.
BAY POINT, Calif. (AP) — The Latest on a fire threatening a natural gas pipeline in the San Francisco Bay Area (all times local):
On October 17, natural gas November futures rose 2.5% and settled at $3.32 per MMBtu (million British thermal units)—the highest closing level for active natural gas prices since January 29. According to Reuters, for the next two weeks, Refinitiv analysts have increased the total degree days from 225 on October 16 to 227 on October 17 in the Lower 48 US states. The increase might result in slightly higher natural gas use for heating than previously expected. The total degree days are still higher than the 30-year average of 188 for these weeks.
On October 17, US crude oil November futures fell 3% and closed at $69.75 per barrel—below $70 for the first time since September 18. Bearish inventory data might be behind the downside in oil prices.
HOUSTON/SINGAPORE, Oct 17 (Reuters) - In the middle of a Sino-U.S. trade war, the world's largest publicly traded oil and gas company is turning toward Beijing for business at a time when most of Corporate America is looking elsewhere to avoid the threat of tariffs. Exxon Mobil Corp is placing big bets on China's soaring liquefied natural gas (LNG) demand, coupling multi-billion dollar production projects around the world with its first mainland storage and distribution outlet. Its gas strategy is moving on two tracks: expanding output of the super-cooled gas in places such as Papua New Guinea and Mozambique, and creating demand for those supplies in China by opening Exxon's first import and storage hub, according to an Exxon manager and people briefed on the company's plans.
Exxon Mobil Corp has signed a framework agreement to supply liquefied natural gas to Zhejiang Provincial Energy Group, a senior executive said on Thursday, marking Zhejiang Energy's first long-term supply deal. Peter Clarke, president of Exxon Mobil gas and power marketing, was speaking at the International Petroleum and Natural Gas Enterprise conference at Zhoushan, near Shanghai. Exxon Mobil is stepping up its efforts to meet soaring LNG demand, coupling multi-billion dollar production projects around the world with its first mainland storage and distribution outlet.
Crude oil markets got hammered during the trading session on Wednesday, reaching down towards major support. As I record this, it looks as if the buyers are starting to come back though, so it will be interesting to see whether we can bounce or not.
Natural gas markets continued to grind during the trading session on Wednesday, as we continue to struggle with these high levels. The market has recently been very bullish, but the last several days have been more about digestion than anything else.
The British pound fell on Wednesday, extending down to the 1.31 level, an area that should be supportive based upon the gap at the open of the weekend of course previous action.
The British pound pulled back during the trading session on Wednesday, reentering the gap that had formed at the beginning of the week. It does look as if the buyers are trying to come back though, and I think that the ¥146.50 level should of course be interesting as well.
Exxon Mobil Corp is looking to sign a long-term liquefied natural gas supply deal with Zhejiang Provincial Energy Group, a senior executive said on Thursday, which would be Zhejiang Energy's first long-term ...
Oil majors in Europe and the U.S. appear to hold very different views when it comes to the future of oil and the speed of the next energy revolution
The natural gas rig count was at 193 last week—four more than the previous week. However, the natural gas rig count has fallen ~88% from its record level of 1,606 in 2008.
Poland's dominant gas firm PGNiG has finalised the terms of a deal to buy liquefied natural gas (LNG) from U.S. company Venture Global LNG, part of a move to cut reliance on Russian supply, the company said on Wednesday. PGNiG struck an agreement with Venture Global in June to acquire 2 million tonnes of LNG a year for 20 years, equivalent to 2.7 billion cubic metres of natural gas after regasification. It has now signed contracts with two Venture Global subsidiaries running from 2022 and 2023 respectively, under which it will buy the LNG under the Free on Board (FoB) formula, meaning the seller pays for loading and the buyer pays other costs to destination.
On October 16, the natural gas futures for November closed at a premium of ~$0.42 to the November 2019 futures. On October 9, the futures spread was at a premium of $0.46. On October 9–16, natural gas November futures fell 0.8%.
Italian firm Eni SpA’s discovery of the giant offshore Zohr gas field in 2015 reignited waning investor interest in Egypt’s oil and gas industry, the country’s biggest single source of foreign direct investment. Under the new system, companies would bear the cost of exploration and production in return for a share of the output, and they would be free to sell to whomever they wish, said the officials, who asked not to be identified because the discussions are private. The oil ministry didn’t immediately respond to requests for comment.
Unless the forecasts call for extreme cold temperatures or an extended cold spell, the $3.409 top will be hard to exceed at this time. If you recall, this top was put in last week during the height of the hurricane scare. At the same time, unless we see a large jump in production or injections, the bottom at $3.202 is likely to remain intact over the near-term.
India's H-Energy on Wednesday said it expected to delay the start-up of a liquefied natural gas (LNG) terminal in the west of the country until the first quarter of next year. The terminal had been slated to start full commercial operations by the final quarter of 2018, but that was likely to be pushed back after heavy monsoon rains affected the laying of a pipeline, said Rahul Tiwari, senior LNG trader at the company. The 60-km (37-mile) pipeline connects the 4 million metric tonnes per annum (mmtpa) terminal at the port of Jaigarh to the national gas grid at Dabhol.
Prices of Asia's liquefied natural gas are set to go up on the back of surging oil prices and tightening supplies, analysts say.
Silver markets continue to show signs of strength on Tuesday, reaching towards the $14.90 level before running into resistance. Silver markets will continue to trade based upon the US dollar, so make sure you are paying attention to how it is doing.
Natural gas markets fell again on Tuesday, as we continue to go back and forth at these elevated levels. The $3.30 level has been resistance more than once, so we pulled back to the $3.20 level.