Nat Gas News – November 12, 2018
Nat Gas News – November 12, 2018
Cold Weather Lifts US Natural Gas Prices
Financial Tribune reported: Forecasts of a more extended November cold snap across the US sent natural gas prices to a near two-year high, as investors worry about rising demand at a time when supplies are at the lowest level to start the winter heating season in 15 years. Natural gas futures for December spiked more than 6% to $3.76 per million British Thermal Units, the highest price since December 2016, CNBC reported. “We added a lot of heating demand over the last week,” said Jacob Meisel, chief weather analyst at Bespoke Weather Services on Friday. “This morning, there are more risks that the cold is going to linger a bit longer through November, not at the same intensity but it’s enough to scare a market that has low storage levels and already has strong physical prices.” Weekly government data Thursday showed the amount of natural gas in US storage facilities rose by 1.8 billion cubic meters to 90.8 billion cubic meters in the week ended Nov. 2, but that is still 15% below the year-ago level and 16% below the five-year average. For more on this story visit financialtribune.com or click https://bit.ly/2K1om9m
First U.S. LNG cargo since 10 percent tariff enacted arrives in China: data
Reuters reported: A liquefied natural gas (LNG) cargo from the United States has arrived in China, the first such cargo since Beijing imposed a tariff on U.S. imports, shipping data from Refinitiv Eikon showed on Monday. China, the second-biggest importer of LNG globally after Japan, announced in September a 10 percent tariff on U.S. LNG imports as part of an escalating trade war between the world’s two biggest economies. Since the tariffs were announced, Chinese companies have largely been diverting U.S. shipments to other countries, trade sources said. This is the first U.S. LNG cargo to be shipped to China since Sept. 10, the Eikon shipping data showed. The cargo was shipped on tanker Ribera Duero Knutsen from the Sabine Pass terminal operated by Cheniere Energy. For more on this story visit reuters.com or click https://reut.rs/2PZ9DRO
This article is part of Daily Natural Gas Newsletter
Tagged:
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.
