Natural Gas News – September 12, 2024
Natural Gas News – September 12, 2024
New Pipelines Are Expected To Ease Glut Of Permian Natural Gas
In the energy sector, pipelines play a similar role to railways that move large volumes of cargo across the country. Pipelines bring crude oil and natural gas from where it’s extracted closer to refineries, power plants and ports. There’s a new pipeline scheduled to begin service this month that will help move natural gas out of West Texas, home to a glut of natural gas. In fact, there are several Permian Basin pipelines … in the pipeline.Where there’s crude oil
production, there’s natural gas. And in the Permian Basin, there’s a lot of both: “As a country, we hit a record high volume of oil production of 13.4 million barrels a day,” said Tom Seng, a professor at Texas Christian University. Nearly half of that recent peak is from the Permian Basin. “So for every one of those oil wells, you do have some level of n… For more info go to https://tinyurl.com/cdr962y8
Francine Stirs Market Uncertainty as EIA Report Looms
Natural gas futures flat today as traders assess Hurricane Francine’s potential to disrupt Gulf of Mexico production. Market awaits EIA storage report, forecasting a 46-50 Bcf injection, down from the 5-year average of 67 Bcf. Key technical level: 50-day moving average at $2.31 could trigger a rally if production disruptions increase. Despite
hurricane-related production risks, cooler weather and power outages may cap demand in the southern U.S. U.S. natural gas futures traded flat on Thursday, as traders weighed conflicting weather reports and the potential impact of Hurricane Francine on Gulf of Mexico production. Market participants are also anticipating the U.S. Energy
Information Administration’s (EIA) storage report, due at 14:30 GMT, with a forecasted injection of 46-50 billion cubic f… For more info go to https://tinyurl.com/2cc5umws
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