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This report covers the week ending December 6, 2019. Total Demand We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 803 bcf for the week ending December 6 (up 8.8% w-o-w (week over week) and up 3.1% y-o-y (year over year)). The deviat...
The Weather Last week Last week (ending November 29), the number of heating degree days (HDDs) jumped by 8.15% w-o-w (from 128 to 139), as weather conditions cooled down across the Lower-48 states. Cooling demand has plunged by about 37.6% and remains too weak to have a meaningful impact...
Welcome to the bottoming out edition of Natural Gas Daily! Housekeeping item first. For the week ending 11/29, we have a draw of -10 Bcf. This compares to -63 Bcf last year and -41 Bcf for the 5-year average. Prices Start To Bottom Out Natural gas prices at one point recovered more...
The U.S. Energy Information Administration has recently released their natural gas monthly statistics for September 2019. In this article, we will briefly review their consumption and exports figures, then look at our estimates for October and November, and conclude with our latest forecast fo...
Natural gas futures ( UNG +4.3% ) close +4.8% to $2.44/MMBtu after some climate models predicted a sweep of cold weather across the Midwest and eastern two-thirds of the U.S. within the next two weeks. More news on: The United States Natural Gas ETF, LP, Chesapeake Energy Corporation...
On Friday, November 29, the oil and natural gas futures markets hit the skids. The nearby NYMEX crude oil futures contract settled $2.94 per barrel lower on the session, and January natural gas futures plunged 22 cents per MMBtu. The price action in natural gas at the very beginning of the pea...
Welcome to the bears in control edition of Natural Gas Daily! Natural gas prices got absolutely slammed today. The drop in natural gas surprised even the traders themselves. Traders came into this report short -25% in positioning, but following the dramatic drop, traders started to cover...
By Scott Bauer More than 55 million travelers have made plans to travel 50 or more miles away from home this Thanksgiving. According to AAA, 2019 will be the second-highest Thanksgiving travel volume on record. But the market never rests, even as we approach the holiday season. The Ameri...
The natural gas market has matured since futures began trading on the New York Mercantile Exchange in 1990. We are coming up on the thirtieth anniversary of the natural gas market, which has taken the price of the energy commodity from lows at $1.02 to highs at 15.65 per MMBtu. Natural gas has...
Welcome to another record edition of Natural Gas Daily! Natural gas prices are finally reacting to the bullish weekend forecast 10-15 days out. Source: HFIRweather.com Both ECMWF-EPS and GFS-ENS are trending more bullish now in the 10-15 day range, with GFS-ENS, once again, leading t...