(Investing) – U.S. natural gas producers will boost output in 2025 following a series of production cuts this year, as rising demand from liquefied natural gas export plants is expected to increase prices that had fallen to multi-decade lows. U.S. production is on track to decline in 2024 for the first time since 2020, when the COVID pandemic reduced demand, according to the
(Oil Price) – U.S. natural gas futures jumped over 10% to $2.94/MMBtu in Monday’s trading session after production disruption in the Gulf of Mexico in the wake of Hurricane Rafael. According to the U.S. Bureau of Safety and Environmental Enforcement (BSEE), 482,790 barrels of oil and 310 million cubic feet of natural gas, representing more than 25% of oil and 16% of natural
World Oil (WO) – Cheniere Energy, Inc. entered into a long-term liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with Galp Trading S.A., a subsidiary of Galp Energia. Galp has agreed to purchase approximately 0.5 MMtpa of LNG for 20 years from Cheniere Marketing on a free-on-board basis for a purchase price indexed to the Henry Hub price, plus
World Oil (WO) – In the Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasted that U.S. liquefied natural gas (LNG) exports will keep leading the U.S. natural gas sector as three LNG export projects soon begin operations and reach full production by the end of 2025. The EIA also forecasted increased natural gas pipeline exports, mostly to
Nasdaq BRIDGEPORT, Texas – For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies. In the oil versus gas contest, gas producers are losing out. Some are shutting in wells, canceling projects or selling
Nasdaq U.S. homes and businesses used a record amount of natural gas on Tuesday as demand for the fuel for heating and power generation soared during an Arctic blast that also cut gas output to near a 13-month low by freezing wells. The severe winter storm dumped snow across a broad part of the nation on Tuesday, shutting a Gulf Coast refinery in Texas, triggering
Oil Price TC Energy has agreed to sell 40% of the Columbia Gas and Columbia Gulf pipelines in the U.S. for US$3.9 billion (C$5.2 billion) in cash, the Canada-based pipeline giant said on Monday. Columbia Gas and Columbia Gulf will be held in a new joint venture partnership with Global Infrastructure Partners (GIP), said TC Energy, which will speed up its debt
Oil Price Natural gas prices in the United States have plunged and remained low despite a sharp drop in inventories at the end of 2022. Reuters’ John Kemp reported today that working gas stocks in underground storage in the U.S. had ended last year 9% below the five-year average for that time of the year, falling by three percentage points in
Oil Price The benchmark U.S. natural gas prices tumbled again on Thursday to the lowest level in nearly a year on warmer-than-normal weather. As of 9:01 a.m. ET, the benchmark price at the Henry Hub had plunged by more than 7% at $3.888 per million British thermal units (MMBtu), for a 7.14% drop on the day. Prices are now down by 57% compared
BOE Report U.S. natural gas futures jumped about 10% to a two-week high on Monday on forecasts for more demand this week than previously expected with the return of Berkshire Hathaway Energy’s Cove Point liquefied natural gas (LNG) export plant in Maryland. Traders said the market largely ignored record output and forecasts for milder weather and less demand next
BOE Report U.S. natural gas futures dropped about 6% to a seven-month low on Friday, pressured by forecasts for mild weather, record output and low liquefied natural gas (LNG) exports that have allowed utilities to inject more gas into storage than usual ahead of winter. That put gas futures on track to drop for the ninth straight week for
Nasdaq U.S. natural gas futures inched up in choppy trade on Thursday, hovering near their lowest since March, after a mixed reaction to a federal report showing a larger-than-expected storage increase last week, with investors also assessing upcoming seasonal demand. Front-month gas futures NGc1 edged up 2.9 cents, or 0.5%, to $5.49 per million British thermal units (mmBtu) by 11:38
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