Natural Gas News – March 22, 2018

By Published On: March 22, 2018Categories: Daily Natural Gas Newsletter

Natural Gas News – March 22, 2018

Why Rising Oil Rigs Should Concern Natural Gas Bulls

Market Realist reported: The natural gas rig count was 189 in the week ending March 16, 2018—a rise of one rig from the previous week. In 2008, the natural gas rig count made a record high of 1,606. Currently, the natural gas rig count has fallen 88.2% from its record high. From the beginning of 2008 until December 2017, the US natural gas marketed production rose 47.3% based on the EIA’s monthly data. Rising oil production could be behind the rise in natural gas supplies. Usually, natural gas is a by-product of US shale oil production. So, the rising oil rig count could be important for natural gas supplies and a concern for natural gas bulls. The possible upside in the oil rig count could disappoint investors in natural gas–weighted stocks like and Chesapeake Energy (CHK) and Southwestern Energy (SWN)—upstream stocks with at least a 60% production mix in natural gas. In the trailing week, Chesapeake Energy and Southwestern Energy fell 0.3% and 2.9%. Natural gas futures fell 4% during this period. For more on this story visit or click

Natural Gas Price Fundamental Daily Forecast – Traders Expect EIA Report to Show 88 to 91 Bcf Draw

FX Empire reported: Natural gas futures continued to straddle a key short-term technical retracement zone on Wednesday, however, after an early rally failed to gain traction, the market closed lower for the session. The close below the retracement zone is a sign of weakness and indicates that investors will likely be going into Thursday’s U.S. Energy Information Administration’s weekly storage report with a downside bias. Looking ahead to today’s U.S. Energy Information Administration storage report, we are expecting to see a draw of about 91 billion cubic feet in the week ended March 16. For more visit or click

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