Updated Aug 30, 2024
8/30/24
The second day of natural gas bidweek trading Tuesday saw baseload prices maintain a weakening trend ahead of the autumn season, according to NGI’s Bidweek Alert (BWA).
Baseload natural gas prices declined on the first day of September bidweek trading on Monday, led lower by prices in West Texas sinking below zero.
EQT Corp., the largest natural gas producer in North America, scaled back output earlier this year in response to low prices amid a mild winter. However, with forecasts for sizzling summer heat domestically and abroad, CEO Toby Rice said the Pittsburgh-based company has started to bring back the 1 Bcf/d curtailed in late February.
The long-delayed Mountain Valley Pipeline (MVP), designed to move copious amounts of natural gas from Appalachia to the Southeast, gained a long-sought authorization on Tuesday from federal regulators.
Natural gas futures pulled back early Wednesday after rallying above $3.00 on Tuesday as traders weighed the start-up of the long-delayed Mountain Valley Pipeline LLC (MVP) against record heat forecasts.
Supplies of natural gas in storage are stout everywhere, but East region inventories are closer to historical norms than any other section of the Lower 48.
Natural gas futures lost ground Thursday following the release of U.S. Energy Information Administration (EIA) storage data, which outlined a small injection into inventories for the week ended March 15.
EQT Corp., the largest natural gas producer in the United States, agreed Monday to buy former entity Equitrans Midstream Corp., bringing back together Appalachian-based giants in what executives said was a game-changing opportunity.
Exceptional warmth near-term and an enduring supply buffer kept the pressure on regional natural gas forward prices during the Feb. 1-7 trading period, according to NGI’s Forward Look.
January Nymex natural gas futures tumbled in thin volume trade Tuesday, coming off the extended Christmas holiday weekend and ahead of the contract’s expiration at the close of business Wednesday. The more heavily traded February contract also stumbled as traders positioned in preparation for its move into the lead position.