Natural Gas News – November 18, 2024
Natural Gas News – November 18, 2024
Mansfield Market Assessment
The weather went colder in the 11-15 forecast period bringing more demand to the West Coast, Southeast and Midwest markets. The market responded with a intra-day gain of up .09 cents. This will be the first real cold of the year in multiple markets so look for a nice withdraw coming week of Thanksgiving. We are looking for an injection of 10 Bcf this Thursday which should be the last one of the season. We are indeed pushing 4 Tcf total storage so a 10- year weather normal winter should bring us to around 1.8 Tcf end of March number with is more neutral. Look for power demand to pick up this coming summer with more data centers coming online.
Trump’s Friendly Energy Pick Seen As ‘Fantastic’ In Middle East
US President-elect Donald Trump’s selection of oil industry veteran Chris Wright as energy secretary will likely be welcome in the Middle East where hydrocarbons dominate its economies, with one Saudi government official describing the nomination to S&P Global Commodity Insights on condition of anonymity as “fantastic.” However, if US oil production increases under the Trump
administration, that could complicate the OPEC+ alliance’s desire to raise its own output without causing a sell-off in prices, said Kamil al-Harami, an independent oil analyst and former executive for stateowned Kuwait Petroleum Corp. “Overall, more crude production will lower prices [and] may lead to further weakening of OPEC,” Harami said. Wright, whose nomination to head the Department of Energy was widely reported… For more info go to https://tinyurl.com/eenk3ne2
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