MARKET INTELLIGENCE & INDUSTRY NEWS

Jan 25, 2017
2 min

EIA's Weekly Crude Oil Inventory Report 1-25-17

WTI crude oil lightly added onto this morning’s losses following the EIA’s inventory report which revealed that crude oil stocks increased, but in line with expectations and the API’s numbers last night. The highlight of the report was the substantial build in gasoline stocks for a second consecutive week despite a decline in output from refineries. *Important Disclaimer: Beginning ON 10/13/16 the EIA will no longer include crude oil lease stocks in U.S. total commercial crud

Jan 23, 2017
3 min

Natural gas prices in 2017 and 2018 are expected to be higher than last year

In its January 2017 Short-Term Energy Outlook (STEO), EIA expects the Henry Hub natural gas spot price to average $3.55 per million British thermal units (MMBtu) in 2017 and $3.73/MMBtu in 2018, both higher than the 2016 average of $2.51/MMBtu. Higher prices in 2017 and 2018 reflect natural gas consumption and exports exceeding supply and imports, leading to lower average inventory levels. The confidence interval range for natural gas prices is a market-derived range that ref

Jan 20, 2017
3 min

Natural gas prices in 2016 were the lowest in nearly 20 years

Natural gas spot prices in 2016 averaged $2.49 per million British thermal units (MMBtu) at the national benchmark Henry Hub, the lowest annual average price since 1999. The monthly average price fell below $2.00/MMBtu from February through May, but later increased, ending the year at an average of $3.58/MMBtu in December. Warmer-than-normal temperatures for most of the year and changing natural gas demand were the main drivers of natural gas prices in 2016. Natural gas price

Jan 19, 2017
2 min

EIA Natural Gas Storage Report 01-19-17

Leading up to today's report, Natural gas wholesale contracts declined for the second day in a row on Wednesday, falling toward a one-week low as weather forecasts for the end of January turned warmer, which should dampen demand for the heating fuel. Weather models initially predicted colder temperatures throughout most parts of the U.S. during the period. " Natural gas for February delivery on the New York Mercantile Exchange dropped nearly 3% to a session low of $3.302 per

Jan 5, 2017
2 min

EIA Natural Gas Storage Report 01-05-17

Leading up to today's report, natural gas wholesale contracts declined again on Wednesday, extending Tuesday's plunge of almost 11%, as forecasts of mild weather replaced predictions of severe cold. Prices dropped by about $0.60 per million BTUs over the past five trading days, primarily as a result of revised weather forecasts calling for unseasonably warmer temperatures over the southern and eastern states beginning next Monday. Until then, colder weather will persist over

Jan 3, 2017
2 min

US Natural Gas Prices Were Mixed in 2016: What’s Next?

Natural gas prices in 2016 US natural gas prices were on a rollercoaster ride in 2016. February 2017 natural gas (FCG) (BOIL) (UGAZ) (GASL) futures contracts fell 2.1% and closed at $3.72 per MMBtu (million British thermal units) on December 30, 2016. However, it rose 59% in 2016 compared to 2015. It’s the largest annual gain for natural gas since 2005. Natural gas was the second best performer across commodities in 2016. Zinc was the top performer—it rose ~60% in 2016—compar

Dec 29, 2016
2 min

EIA Natural Gas Storage Report 12-29-16

Leading up to today's report, Natural gas prices rose sharply Wednesday as forecasts called for colder weather and as futures’ expiration likely forced sellers to buy and close out their positions. " Natural gas wholesale contracts for January delivery gained 16.9 cents, or 4.49%, to settle at $3.93 a million British thermal units on the New York Mercantile Exchange, the highest settlement value in more than two years. The more actively traded February contract rose 13.2 cent

Dec 28, 2016
2 min

EIA's Weekly Crude Oil Inventory Report 12-28-16

WTI crude oil futures spiked initially but have since dropped into negative territory following the inventory report which showed a slight, unexpected build in crude oil stocks. Meanwhile, crude products both fell despite expectations for a build as refiners cut back on output. *Important Disclaimer: Beginning ON 10/13/16 the EIA will no longer include crude oil lease stocks in U.S. total commercial crude oil inventory data. Crude oil lease stocks refer to oil (currently abou

Dec 28, 2016
2 min

U.S. natural gas production resilient to market changes in 2015, but has fallen in 2016

U.S. dry natural gas production continued to increase in 2015, reaching 74.1 billion cubic feet per day (Bcf/d). This record-high level was a 4.5% (3.2 Bcf/d) increase over 2014, according to EIA’s Natural Gas Annual, which provides final production data for 2015. The increase in 2015 production levels marked the tenth straight annual increase, with the most recent increase occurring despite natural gas prices at the Louisiana Henry Hub declining more than 40% from an average

Dec 22, 2016
2 min

EIA Natural Gas Storage Report 12-22-16

Natural gas wholesale contracts snapped a five-session losing streak on Wednesday, as investors bid up prices on expectations of a massive U.S. inventory draw. " Natural gas for January delivery on the New York Mercantile Exchange jumped 27.8 cents, or 8.51%, to $3.542 per million British thermal units. " Natural gas traders awaited weekly supply data due on today, which is expected to show a draw in a range between 197 and 210 billion cubic feet in the week ended December 16

Dec 17, 2016
2 min

U.S. oil and natural gas proved reserves declined in 2015 because of lower prices

U.S. crude oil proved reserves declined 4.7 billion barrels (11.8%) from their year-end 2014 levels to 35.2 billion barrels at year-end 2015, according to EIA’s recently released U.S. Crude Oil and Natural Gas Proved Reserves report. U.S. natural gas proved reserves decreased 64.5 trillion cubic feet (Tcf), a 16.6% decline, reducing the U.S. total to 324.3 Tcf at year-end 2015. The significant reduction in the average price of both oil and natural gas between 2014 and 2015 re

Dec 15, 2016
1 min

EIA Natural Gas Storage Report 12-15-16

Natural gas prices reversed to the upside today ahead of the release of today’s inventory report. The wholesale contract for January delivery on the New York Mercantile Exchange traded to $3.557 for a high and closed the session at $3.540, up 1.9% for the day. " According to natgasweather.com another frigid reinforcing cold blast out of southern Canada will follow this weekend across the northern and central US with temperatures again dropping 15-30°F below normal to drive an

Dec 10, 2016
2 min

Natural Gas Hits Two Year Highs and Ends the Week.

Natural gas prices ended the week by establishing new closing and intraday highs in the advance from the November low. The contract for January delivery on the New York Mercantile Exchange traded to $3.777 for a high and ended the session at $3.746, up 1.38%. Recent weather forecasts for colder than normal temperatures across the US have increased the demand for natural gas, thereby resulting in the latest move higher in prices. For the week overall, natural gas prices rose 9

Dec 8, 2016
2 min

EIA Natural Gas Storage Report 12-08-16

Natural gas prices closed lower on Wednesday, reversing gains after nearing a two-year high. Natural gas prices have rallied to the highest level since December 2014 as weather forecasts have shown below-average temperatures coming in across the country. Natural gas is used to heat homes and sees a boost in prices when winter weather drives up demand for heating. The enthusiasm for natural gas took a breather as some natural gas traders took profits and awaited further clu

Dec 7, 2016
3 min

New England natural gas pipeline capacity increases for the first time since 2010

Spectra Energy Corporation has almost completed the first two natural gas pipeline projects in New England since 2010. On November 1, Spectra placed part of the Algonquin Incremental Market (AIM) project into service, following the late-October approval from the Federal Energy Regulatory Commission (FERC). The remainder of the project is expected to be completed this month. Spectra placed another pipeline project—Salem Lateral—into service on November 1, according to PointLog

Dec 7, 2016
3 min

EIA's Weekly Crude Inventory Report 12-07-16

WTI crude oil futures initially pared back on this morning’s losses on an initial read on the EIA’s crude oil inventory report which showed that crude stocks fell more than expected and also surpassed the draw that the API reported last night. However, oil futures subsequently fell back below pre-report levels with the concern of growing crude-product inventories as both distillate and gasoline stocks rose more than expected despite refiners hiking output less than what was f

Dec 5, 2016
2 min

New U.S. border-crossing pipelines bring shale gas to more regions in Mexico

U.S. pipeline capacity for natural gas exports to Mexico has rapidly expanded in the past few years and currently stands at 7.3 billion cubic feet per day (Bcf/d). This existing cross-border capacity primarily supplies the Northeast and Central regions of Mexico. New capacity projected to be completed in the next several years will help to supply Mexico’s Central and Northwestern regions. The expansion of the U.S. cross-border pipeline network into Mexico has been driven prim

Dec 1, 2016
1 min

EIA Natural Gas Storage Report 12-01-16

Leading up to todays report, Natural gas prices rose Wednesday to their highest price in nearly two years as cooler forecasts continue raising expectations for demand. Wednesday’s forecasts show below-average temperatures spreading across most of the country starting next week. MDA " Natural-gas wholesale contracts for January delivery settled up 3.7 cents, or 1.1%, at $3.352 a million British thermal units on the New York Mercantile Exchange. It ended the month up nearly 11%

Nov 30, 2016
2 min

EIA's Weekly Crude Inventory Report 11-30-16

WTI crude oil futures tacked onto this morning’s robust gains following the inventory report that showed a larger-than-expected draw in crude oil stocks. However, inventory related gains were kept in check by the crude product stocks as both distillate and gasoline inventories rose more than expected despite refineries surprisingly slowing down output. *Important Disclaimer: Beginning ON 10/13/16 the EIA will no longer include crude oil lease stocks in U.S. total commercial c

Nov 24, 2016
2 min

New infrastructure aims to increase takeaway capacity of natural gas from Utica region

A number of pipeline projects that have been approved, or are in various stages of the approval process, would increase capacity to transport natural gas from the Utica production region in Ohio to natural gas markets. Collectively, these projects could add up to 6.8 billion cubic feet per day (Bcf/d) of takeaway capacity out of the Utica region by the end of 2018. " Over the past several years, natural gas production in the Appalachian basin from the Marcellus and Utica shal

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