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Welcome to the fingers crossed edition of Natural Gas Daily! This is going to be a rather stressful weekend, that's one thing we know for certain. We went long 100% UGAZ today at $8.81 for the remaining 50% tranche. Natural gas trading during wintertime is inherently unpredictable be...
This report covers the week ending December 20, 2019. Total Demand We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 895 bcf for the week ending December 20 (up 10.3% w-o-w (week over week) and up as much as 22.2% y-o-y (year over yea...
Welcome to the diverging view edition of Natural Gas Daily! For the week ending 12/13, we have a storage draw of -100 Bcf. Weather Models Diverge On When The Cold Blast Hits Natural gas prices are grinding lower today on the back of a more mixed outlook. Both ECMWF-EPS and GFS-ENS sh...
The Weather Last week Last week (ending December 13), the number of heating degree days (HDDs) edged up by 4.2% w-o-w (from 155 to 162). Cooling demand remains too weak to have a meaningful impact on natural gas consumption. Despite higher HDDs, we estimate that total energy demand (as m...
Natural gas can be a brutal commodity. The price action in the energy commodity can be highly volatile and tends to punish those who are on the wrong side. Last November, the low level of inventories combined with a significant risk position where market participants were long crude oil and sh...
This report covers the week ending December 13, 2019. Total Demand We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 804 bcf for the week ending December 13 (down 1.3% w-o-w (week over week), but up 0.3% y-o-y (year over year)). The d...
Welcome to the deficit again edition of Natural Gas Daily! The long set-up signals are starting to pile up. Lower production? ✔️ Higher heating demand? ✔️ Skewed bearish positioning? ✔️ Sustained bullish weather? ❌ For the na...
Natural gas futures (NYSEARCA: UNG ) for January settled +3.8% to $2.328/MMBtu, as new forecasts for chilly temperatures to close out the month allayed fears among traders and analysts of an impending drop below $2. More news on: The United States Natural Gas ETF, LP, Range Resources C...
Shares of big gas producers are mostly lower after Chevron ( CVX -1.3% ) announced a $10B-$11B charge against the value of its assets and a reduced forecast for commodity prices: CHK -3.3% , EQT -3.1% , SWN -1.4% , GPOR -1.4% , COG -0.3% , RRC +0.2% , AR +1.6% . Mo...
A tanker has docked at Kinder Morgan's ( KMI +0.2% ) Elba Island LNG export terminal in Georgia, and observers of the liquefied natural gas industry are waiting to see if it will leave with the facility's first export shipment . More news on: Kinder Morgan, Inc., The United States Natur...