GAZB News and Press, Barclays Bank PLC From 07/19/21

straga/iStock via Getty Images Today's big selloff in crude oil had no effect on U.S. natural gas prices, which settled +2.9% at $3.779/MMBtu, the highest closing price since December 2018. Gas futures (NG1:COM) jumped to a 30-month high on soaring global gas prices and forecasts for more air...

COVID-19 is still the leading global market factor. Rising interest rates pause with Delta variant. Great Rotation could drive 800% outperformance. Inflation could torpedo benign interest rates. Natural Gas is an energy leader. For further details see: Delta Vari...

The share of total electricity supplied by natural gas-fired power plants remains significant, but is getting smaller. In less than seven months, renewables will probably be providing more electricity to U.S. consumers than coal-fired power plants. The monthly net impact of non-de...

The Energy sector carried its momentum from the end of 2020 into 2021 and ended Q2 as the S&P 500's best performer after returning a staggering 45.61%. US oil production has been steady around 11 mbpd for most of 2021 given producers' conservative capital allocation strategies tow...

This Thursday, I expect the EIA to report 2,628 bcf of working gas in storage for the week ending July 9. I anticipate seeing a build of 54 bcf, just in line with the five-year average for this time of the year. Short-range weather models produce contradictory results. Total d...

Strong exports combined with warmer weather have kept natural gas prices elevated. But the forward outlook is not supportive with the weather outlook being cooler than normal. Natural gas was unable to break above the critical resistance around $3.77/MMBtu. We have initiated a sho...

Capital markets restricting capital to US drillers. Government agencies restricting new pipeline construction. Management teams finding religion on capital allocation. All factors point to constrained supply, lower leverage and higher cash flow generation, commodity prices and...

In 2021, energy is where the money is going. Money is flowing out of Momentum stocks this year, and much of it is going into Value names. Commodities are having a strong showing compared to last year. For further details see: If You Want To Know Where The Market Action I...

Currently, I expect the EIA to report a build of 57 bcf next week (a final estimate will be released on Wednesday). The annual storage deficit is projected to shrink by 22 bcf by August 13. We are still in the "uncharted territory" as U.S. fundamentals do not justify the current l...

As we mark the halfway point of the year, the economy is in full recovery mode and asset prices are soaring. As we enter the second half of the year though, it is hard to ignore some contradictions. Economic growth in H1 is going to print a big number, and yet, the 10-year Treasury no...