Articles filed under Natural Gas Storage

Commodity trading powerhouse Mercuria said it is investing in Black Bayou Energy Hub LLC, a large-scale underground salt dome natural gas storage project under development in Louisiana’s Cameron and Calcasieu parishes.

An influx of LNG once again has Europe on track to fill its storage inventories ahead of the winter heating season.

Price spikes that plagued natural gas delivered to hubs across California and the Southwest in past summers are unlikely to repeat, even in the face of extreme heat, according to experts. 

With a toasty June temperature outlook helping the market to shake off a plump weekly inventory build, natural gas futures probed modestly higher in early trading Friday.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 98 Bcf natural gas into storage for the week ended May 31. The result was higher than expected and erased most of the day/day gains for Nymex natural gas futures.

As recent forecasts hinted at widespread summer heat developing later this month, natural gas futures advanced in early trading Wednesday. The July Nymex contract was up 5.7 cents to $2.643/MMBtu as of 8:42 a.m. ET.

Supported by comparatively light June supply readings, natural gas futures were probing modestly higher in early trading Tuesday. 

As the market continued to mull a larger-than-expected inventory build and signs of returning production volumes, natural gas futures fell further in early trading Friday. 

The U.S. Energy Information Administration (EIA) on Thursday reported an 84 Bcf injection into natural gas storage for the week ended May 24. The print was above most expectations, but below historical averages.

As traders mulled summertime production gains and braced for the latest round of weekly government inventory data, natural gas futures added to their recent losses in early trading Thursday.