Natural Gas News – January 18, 2024
Natural Gas News – January 18, 2024
Natural Gas Prices Forecast: Traders Brace
U.S. natural gas futures are facing a bearish outlook as market trends shift in response to changing weather patterns, supply factors, and the highly anticipated release of the latest U.S. Energy Information (EIA) Weekly Storage Report. Warmer Weather Ahead: Weather forecasts are pointing to a significant warming trend arriving in late January. This shift is expected to reduce heating demand for natural gas, putting downward pressure on prices. LNG Export Decline: Natural gas flows to U.S. liquefied natural gas (LNG) export plants recently hit a one-year low. Energy companies are redirecting gas supplies to the domestic market due to higher power gas prices caused by extreme cold, leading to decreased exports. Impact of Extreme Cold: The recent extreme cold weather both froze gas wells,
reducing supplies, and… For more info go to http://tinyurl.com/5b6unetp
US Natural Gas Supplies Drop, Record Demand Forecast
Jan 15 (Reuters) – U.S. natural gas supplies have fallen by the most in over a year as extreme cold froze wells, while heating demand was on track to hit a record on Tuesday and lift both power and gas prices to multi-year highs. The Arctic blast sent temperatures plummeting across a vast swath of the U.S., leading to power outages in the Pacific Northwest and elsewhere, and snarling everything from political campaigning to football games and travel. Analysts boosted earlier forecasts for record gas demand on Tuesday but reduced their outlook for gas use on Monday, in part because many businesses and government offices will remain shut for the long U.S. Martin Luther King Jr. Day holiday weekend. The Electric Reliability Council of Texas (ERCOT), which operates much of the state’s power… For
more info go to http://tinyurl.com/ypx2uzcs
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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.
