Natural Gas News – April 18, 2023

Natural Gas News – April 18, 2023

Nat-Gas Prices Surge On Cold U.S. Temps
May nat-gas Monday rallied sharply to a 3-week high as a shift in U.S. weather forecasts to winter-like temperatures will boost heating demand for nat-gas. Forecaster Atmospheric G2 said below-normal temperatures are seen boosting heating demand across the eastern two-thirds of the U.S. from April 22-26. Also, U.S. LNG exports Sunday climbed to a record 14.9 bcf, a sign of strong foreign demand for U.S. nat-gas supplies. Nat-gas prices have fallen sharply over the past three months and posted a 2-1/2 year nearest-futures low
(NGK23) last Friday as abnormally mild weather across the northern hemisphere this past winter eroded heating demand for nat-gas. January was the sixth-warmest across the contiguous 48 U.S. states in data from 1895. This winter’s warm temperatures have caused rising nat-gas inventories in … For more info go to https://bit.ly/41jQcnX

LNG Giant Qatar Walks A Tightrope Between China And The U.S.

Given its geographical positioning, with Saudi Arabia on one side of it and Iran on the other, Qatar has long played a delicate diplomatic balancing act between the two great Middle Eastern powers and their principal superpower sponsors. In Saudi Arabia’s case, its key superpower backer for decades was the U.S., and in Iran’s case over the same period it was Russia and then China more latterly as well. Recently, Saudi Arabia also appears to have shifted further into this China-Russia axis, for several reasons analysed in my previous OilPrice.com articles. Despite this, though, Qatar appears to be sticking largely to the informal understanding reached with the U.S. after Russia’s invasion of Ukraine in February 2022, which was to provide the West with vital new supplies of gas to substitute… For more info go to https://bit.ly/3UKzGuI