Natural Gas News – February 6, 2024
Natural Gas News – February 6, 2024
Natural Gas Prices Forecast: Traders Eyeing
Current Market Trends and Speculation Impact U.S. natural gas futures are showing a downward trend on Monday, reversing earlier gains that were driven by expectations of increased demand due to anticipated colder weather at the end of February. This shift in the market stems from a lack of new buying interest and the resilience of short sellers. At 13:53 GMT, Natural Gas Futures are trading $2.050, down $0.029 or -1.39%. The short-term weather outlook provided by NatGasWeather indicates a mix of rain and snow across the U.S., including a significant storm over California. With most regions experiencing near to warmer-than-normal temperatures, especially in the southern states, the national demand for natural gas remains very light. These mild conditions are expected to keep natural gas
prices low in the immediate … For more info go to http://tinyurl.com/bdf5eesy
Exclusive: Russia’s Novatek Sets Up China Office
SINGAPORE/MOSCOW, Feb 6 (Reuters) – Russian natural gas producer Novatek (NVTK.MM), opens new tab is building a new China-based team to explore marketing the fuel, sources familiar with the plans said, as U.S. sanctions thwart plans for exports from its new multi-billion dollar Arctic project. The move illustrates Russian energy companies’ continued pivot to Asia, especially China, after the Ukraine conflict cut off their access to markets in Europe. A China operation may help Novatek find customers for its newest liquefied natural gas (LNG) project, Arctic LNG 2, after U.S. sanctions were imposed. Novatek, Russia’s largest LNG producer, has been building a Beijing-based business development and marketing team in recent months, six sources with knowledge of the matter said. The sources dec… For more info go to http://tinyurl.com/mr24bfvu
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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.
