Articles tagged Malin

Prompt month natural gas futures rose for a second day on Friday, supported by tight market balances and another storm threat to offshore gas supply possibly arriving next week.

Natural gas futures were moving higher as the market looked beyond the near-term impacts of Category 1 Hurricane Francine to warmer weather and comparatively small storage injections easing end-of-season supply woes.

Canada’s largest natural gas producer, Tourmaline Oil Corp., expects the already tight California natural gas market to become more lucrative amid rising demand and limited transport capacity.

With production strong and supplies in storage stout, a mixed demand outlook was not enough to further propel natural gas futures. Global information technology outages also created upheaval as trading commenced on Friday.

Natural gas futures nosedived on Wednesday despite waning production levels and expectations for a seasonally small increase in underground inventories.

August Nymex natural gas futures deepened losses Thursday despite excessive heat across much of the country. The market appeared to defy the outlook for heavy gas demand in favor of robust supplies.

Energy-intensive bitumen production in the Alberta oilsands, along with rising natural gas-fired power generation, are expected to drive substantial growth in the province’s gas demand over the next nine years, according to the government.

Natural gas futures reversed early gains in an apparent shrugging off of the impacts of former Hurricane Beryl as the market focused instead on revised weather outlooks that erased cooling degree days (CDD), even as excessive heat is expected to grip large portions of the country.

In the workweek ahead of the Fourth of July, natural gas cash prices dropped amid strong production and easing demand because of a cooldown in the country’s midsection and business closures for the holiday.

Stout Canadian supplies of natural gas in storage following a mild winter and robust levels of production continue to pressure prices north of the U.S. border.