Natural Gas News – December 27, 2024
Natural Gas News – December 27, 2024
Traders Eye January Cold as Futures Test Key Resistance
Natural gas futures are climbing sharply today, with the January Nymex contract trading at $3.883, up 6.21%. The price action reflects heightened optimism for colder weather patterns in early January, driving speculative buying and pushing the contract toward the recent high of $3.994. This rebound comes as traders position themselves ahead of the New Year, banking on increased heating demand and potential supply disruptions. Despite today’s rally, natural gas futures faced a notable setback on Monday, shedding 9.2 cents to settle at $3.656. This marked a pause in the bullish run that saw four consecutive days of gains leading into the weekend. The rally was underpinned by robust export demand and an Arctic blast across key consumption regions. Cold temperatures stoked concerns over production freeze-offs, reinfor… For more information, go to https://tinyurl.com/mtc6xnmd
Huge North Dakota natural gas plant secures final permits
The North Dakota Department of Environmental Quality has approved the final permits for a major natural gas processing plant in northwest North Dakota. In December, the Department of Environmental Quality issued a pollution discharge permit and the agency’s Division of Air Quality approved a construction permit for the Cerilon GTL North Dakota plant near Trenton in Williams County. GTL stands for gas-to-liquids. Cerilon GTL North Dakota will be the first large-scale, natural gas-fed facility in North America, according to the Canada-based company. The $3.2 billion plant will convert natural gas into more valuable industrial products, such as lubricants, while also producing electricity. The facility will discharge an average of 400,000 gallons per day of treated was… For more information, go to https://tinyurl.com/yuax6k9u
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