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The Weather Last week Last week (ending October 4), the number of cooling degree-days (CDDs) dropped by approximately 8.4% w-o-w (from 64 to 58), as weather conditions cooled down across the country. Heating demand has surged w-o-w but it remained relatively weak to have a meaningful imp...
Natural gas (NYSEARCA: UNG ) futures remain weak , settling -0.7% to $2.288/MMBtu in today's trade, as a supply glut has dragged down prices by 30% from year-ago levels. More news on: The United States Natural Gas ETF, LP, Range Resources Corporation, Antero Resources Corporation, Energ...
The U.S. Energy Information Administration has recently released their natural gas monthly statistics for July 2019. In this article, we will briefly review their consumption and exports figures, then look at our estimates for August and September, and conclude with our latest forecast for Oct...
Natural gas is one of the most volatile commodities that trade on the futures exchange. The range since 1990, when the energy commodity began trading on the NYMEX division of the CME, has been from a low at $1.02 to a high at $15.65 per MMBtu. The market has matured dramatically over the pas...
This report covers the week ending October 4, 2019. Total Demand We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 587 bcf for the week ending October 4 (up 0.8% w-o-w (week over week) and up 5.4% y-o-y (year over year)). The deviatio...
Investment thesis Since our last publication on the ProShares Ultra Bloomberg Natural Gas ( BOIL ), the ETF lost 27.3% to $12.48 per share. While our view was cautious, given that we adopted a neutral to slightly bearish recommendation, the pullback seen in the last weeks is mostly due t...
Contango Oil & Gas Company ( MCF ) is a Texas-based independent oil and natural gas company. MCF acquires, explores, develops, exploits, and produces oil and gas in the shallow waters of the Gulf of Mexico. The company also has onshore properties in Texas and Wyoming. As of the end of 2018...
The energy sector posted a loss during the third quarter of 2019. In 2014, the energy composite fell by 36.59% due to the swoon in crude oil, petroleum product, and natural gas prices. A composite of energy commodities fell by 25.14% in 2015, making it the worst-performing sector of the year. ...
Natural gas futures ( UNG -1.4% ) record their 11th consecutive daily decline - the longest losing streak on record, based on data going back to November 1990 - with November Nymex gas -2% at $2.283/MMBtu for its lowest settlement since Aug. 28. More news on: The United States Natura...
This report covers the week ending September 27, 2019. Total Demand We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 580 bcf for the week ending September 27 (down 2.4% w-o-w (week over week) but up 4.4% y-o-y (year over year)). Th...