Nat Gas News – August 30, 2017

Nat Gas News – August 30, 2017

Natural Gas Demand Impacted By Harvey But Not As Bad As Forecasted

Seeking Alpha reports: Natural gas prices took a hit last Friday as traders though the impact on demand from Hurricane Harvey would have been material, while the loss of supplies would have been less. Fast forwarding to today, the impact on demand was less than we thought, while the impact on supplies were higher than we expected. Expectations were for a much looser balance, but the demand drop from power burn was offset in part by higher than expected LNG exports. In addition, the supply drop was much more severe than we expected on Friday. Lower 48 production fell almost ~2 Bcf/d since Thursday. For more visit seekingalpha.com or click http://bit.ly/2iF1qmb

Harvey’s Descendants Will Trouble Global Energy

Bloomberg reports: One of the results of the shale-derived boom in U.S. oil and gas production, coupled with a broad leveling-off in domestic energy consumption, is the country’s re-emergence as a source of energy exports. Longer-term, the more dramatic impact of the Gulf’s importance to the global energy trade will be felt in natural gas. The shale boom has overwhelmed domestic demand, and the U.S. will soon emerge as a leading source of exports of liquefied natural gas. Nine-tenths of that U.S. export capacity is sited, or will be, on the Gulf coast. Thus far, the natural-gas market’s subdued reaction to Hurricane Harvey suggests the impact of extreme weather on regional demand for the fuel outweighs any disruption to supply. The unfortunate corollary of America’s resurgent role in the energy trade will be the transmission of hurricane season’s risks to the rest of the world. For more on this story on this story visit bloomberg.com or click https://bloom.bg/2wHePzM

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.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Make a Call

We are happy to discuss your business challenges over the phone and answer any questions.

800.695.6626

Send Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote