Nat Gas News – November 14, 2017
Nat Gas News – November 14, 2017
Natural Gas Prices Are On A Tear
Bloomberg reported: Winter hasn’t even begun and natural gas is already spiking. Prices jumped sharply last week, as fundamental concerns about an arctic blast and future winter weather squeezed shorts. They are likely to rise further through the end of the year and into 2018. The cold weather has been accompanied by a relative deficit of natural gas inventory. This surge in perceived demand along with tight supply triggered a technical breakout of prices to the upside. For most of 2017, price movements have been relatively rangebound between a low of $2.56 in February, and a high of only $3.42 in May. This relatively narrow and somewhat low set of prices is a departure from historical levels, which have often had multi-dollar price swings in a matter of months. After exceptionally low average prices for 2015 and 2016, average annual prices are likely to rise both this year and next. Given inventory dynamics and technical factors, natural gas price lows for the year are likely behind us, but the highs for the year may not be. For more visit bloomberg.com or click https://bloom.bg/2mp8Mfw
US Gulf Coast Seen as Natural Gas Export Hub for Years to Come
Platts reported: The US Gulf Coast is expected to be a crude oil, natural gas and LNG export hub for years to come even as supply, demand and geopolitical swings shift market dynamics, industry consultants said Monday. At the heart of the forecast is the fact that US supplies are abundant and cheap, and billions of dollars of new infrastructure is being added to link those resources to overseas destinations, particularly in Asia, Europe, the Middle East and South America. Mexico, too, has been heavily reliant on US LNG and pipeline gas from the Gulf Coast. During the USAEE/IAEE North American Ride the Energy Cycles Conference, government officials, analysts and investment bankers joined industry consultants to explore how shale technology is boosting the US role in global energy markets, and how the Gulf is a key focal point for those efforts. For more visit platts.com or click http://bit.ly/2yAafkJ
This article is part of Uncategorized
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
