Natural Gas News – February 24, 2025
Natural Gas News – February 24, 2025
Futures Gap Lower—Is a Bearish Weather on the Way?
U.S. natural gas futures are under pressure on Monday, with prices gapping lower at the open and currently testing support at $4.020. This move follows last week’s bullish close at $4.234, where futures gained 13.66% on the back of strong heating demand and tight supply conditions. The abrupt shift in sentiment suggests a significant change in market conditions, with traders reacting to updated weather forecasts for early March. At 14:16 GMT, Natural Gas Futures are trading $3.961, down $0.273 or -6.45%. The primary driver behind Monday’s sell-off appears to be a bearish shift in the weather outlook.… https://tinyurl.com/bdewyn7t
BP to Scrap Renewable Energy Goal; Boosts Oil and Gas
BP is expected to announce this week that it is shifting its focus back to oil and gas, ditching a target to boost renewable energy capacity generation 20-fold by 2030, sources familiar with the new strategy told Reuters on Monday. BP earlier this month pledged to fundamentally reset its strategy as it booked its lowest annual and quarterly profits in years and seeks to push up its stock performance and regain investor trust. “Building on the actions taken in the past 12 months, we now plan to fundamentally reset our strategy and drive further improvements in performance, all in service of growing cash flow and returns,” BP’s chief executive Murray Auchincloss said in a statement two weeks ago.… For more info go to https://tinyurl.com/bdhrevyp
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