Articles tagged henry hub

The U.S. oil and gas sector maintained robust profits and upstream capital expenditures (capex) in 2023, despite a substantial drop in commodity prices, according to a new analysis by Ernst & Young LLP, aka EY.

European natural gas prices swung higher on Monday, carrying Friday’s momentum and starting what is likely to be another volatile week of trading as August comes to an end and the market factors in a number of risks despite a comfortable supply outlook for the continent.

Natural gas spot prices were lower in a week marked by declining demand expectations on the cusp of the fall shoulder season and a slower drawdown of storage surpluses that fed fresh concerns about the stubbornly high Lower 48 supply.

The pummeling continued in natural gas futures, with technicals suggesting additional losses amid a dearth of fodder to nourish the bulls. However, after controlling the market for six weeks, bears could be losing steam, opening the door for the bulls to run.

Natural gas futures bounced off seasonal lows on Tuesday, advancing for only the third time this month amid lighter production readings, bullish storage expectations and signs of new activity at a key export facility following damage caused by former Hurricane Beryl.

August natural gas futures were trading lower through midday Thursday after the latest weekly storage injection landed above historical levels.

Natural gas futures flipped negative through midday trading Tuesday after weather forecasts shaved off some of the Lower 48’s blistering heat expected over the next two weeks.

August natural gas futures began the week deep in oversold territory but with a clear line of sight on the next key technical support level should Hurricane Beryl cause significant demand destruction.

The flood of LNG poised to hit the global natural gas market later this decade is widely expected to push prices lower, potentially broadening the super-chilled fuel’s appeal in a way that could stoke more demand and help absorb the projected supply glut.

Energy executives working in the most prolific natural gas and oil region of the United States are forecasting Henry Hub prices will average $3.01/MMBtu at year’s end, according to the Federal Reserve Bank of Dallas.