GAZB News and Press, Barclays Bank PLC From 04/22/20

U.S. May natural gas futures ( NG1:COM ) settled +6.5% to $1.939/MMBtu, matching the highest close since March 10 , on expectations that gas production will decline in coming weeks as drillers shut oil wells in shale basins due to the recent collapse of crude prices. More news on: Natur...

The Weather Last week Last week (ending April 17), the number of heating degree days (HDDs) jumped by almost 40% w-o-w (from 75 to 105). We estimate that total energy demand (as measured in total degree days, or TDDs) was 31% above the 30-year norm and as much as 53% above last year's le...

The price action in the natural gas futures arena has been consistent since November 2019 when the price of nearby NYMEX futures rose to a seasonal high of $2.095 per MMBtu. The price has done nothing but made lower highs and lower highs. While each new low led to a brief price recovery, the m...

Welcome to the winner edition of Natural Gas Daily! Oil prices are dropping like rocks today, but there's an important distinction we need to remind readers. May contracts settling at -$37/bbl has no real significance to the oil market. What we mean by that is that May contracts can trad...

This report covers the week ending April 17, 2020. Total Demand (if there was no coronavirus) In the absence of a coronavirus-induced lockdown, we estimate that the aggregate demand for U.S. natural gas (consumption + exports) would have totaled around 690 bcf for the week ending April...

By Islandboy The EIA released the latest edition of their Electric Power Monthly on March 24 th , with data for January 2020. The table above shows the percentage contribution of the main fuel sources to two decimal places for the last two months and the year 2020 to date. The Table im...

The U.S. Energy Information Administration has recently released their natural gas monthly statistics for January 2020. In this article, we will briefly review their consumption and exports figures, then look at our estimates for February and March, and conclude with our latest forecast for Ap...

Welcome to the weak demand edition of Natural Gas Daily! The physical gas market remains very weak despite support from bullish weather. Heating demand has barely moved higher despite much higher TDDs and industrial demand remains weak. The reason for the small improvement in res/com deman...

This report covers the week ending April 10, 2020. Total Demand We estimate that the aggregate demand for U.S. natural gas (consumption + exports) totaled around 663 bcf for the week ending April 10 (down -3.3 bcf/d w-o-w (week over week) but up +11.1 bcf/d y-o-y (year over year)). The...

Energy has been a curse in 2020. The price of crude oil rose to a high for the year on January 8 at $65.65 per barrel, but natural gas had already started its descent. Natural gas rose to a seasonal high of $2.905 per MMBtu in early November; in January, the peak was at $2.255. A pattern of lo...