Latest news with #Lower48
Yahoo
6 days ago
- Business
- Yahoo
Nat-Gas Prices Tumble as US Weather Forecasts Cool
August Nymex natural gas (NGQ25) on Wednesday closed down -0.175 (-5.38%). Aug nat-gas prices added to this week's sharp losses on Wednesday and dropped to a 2.75-month low due to forecasts for cooler US weather, which would curb nat-gas demand from electricity providers for air conditioning usage. Forecaster Atmospheric G2 said Wednesday that forecasts shifted generally cooler across the US for August 2-6. More News from Barchart Array Technologies (ARRY) Just Flashed a Statistically Significant Reversal Signal for Options Traders Forecasts for Milder US Weather Weigh on Nat-Gas Prices Crude Oil Price Fall on Concern About Energy Demand Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Also, stronger US nat-gas output is weighing on prices with recent production up year-over-year. In addition, expectations for even higher US nat-gas production are also weighing on nat-gas prices after last Friday's weekly report from Baker Hughes showed that the number of active US nat-gas drilling rigs in the week ending July 18 rose by +9 to a 17-month high of 117 rigs. Lower-48 state dry gas production on Wednesday was 108.8 bcf/day (+4.5% y/y), according to BNEF. Lower-48 state gas demand on Wednesday was 79.5 bcf/day (-4.2% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Wednesday were 15.0 bcf/day (+1.0% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported Wednesday that total US (lower-48) electricity output in the week ended July 19 rose +2.1% y/y to 99,373 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 19 rose +2.4% y/y to 4,251,059 GWh. The consensus is that Thursday's weekly EIA nat-gas inventories will increase by +27 bcf for the week ended July 18, just below the five-year average for the week at +30 bcf. Last Thursday's weekly EIA report was slightly bearish for nat-gas prices since nat-gas inventories for the week ended July 11 rose +46 bcf, above the consensus of +45 bcf and the 5-year average of +41 bcf for the week. As of July 11, nat-gas inventories were down -4.9% y/y, but were +6.2% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 21, gas storage in Europe was 65% full, compared to the 5-year seasonal average of 74% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending July 18 rose by +9 to a 17-month high of 117 rigs. In the past ten months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
09-07-2025
- Business
- Yahoo
UBS Maintains ‘Buy' Rating on EOG Resources, Inc. (EOG); Keeps PT of $140
EOG Resources, Inc. (NYSE:) is one of the . Bridgewater Associates holds over $42 million worth of shares of EOG, which represents 0.20% of its portfolio. An aerial view of the energy producing facility, highlighting its potential of providing utilities to the public. On June 26, 2025, UBS maintained a 'Buy' rating on EOG Resources, Inc. (NYSE:EOG), while also keeping a price target of $140. This update follows EOG's executive meeting in Europe and discussions with the investor relations team. The discussion highlighted the company's operational strength, along with its focus on Lower48. Furthermore, the potential upside from EOG's acquisition of Utica was also talked about in the executive meeting. Meanwhile, UBS analysts pointed toward EOG Resources, Inc.'s (NYSE:EOG) demonstration of resilience in a volatile oil market and an opportunity to capitalize on rising natural gas prices. Moreover, EOG's acquisition of Encino Acquisition Partners in May 2025 is expected to expand the company's footprint in the Utica Shale. EOG Resources, Inc. (NYSE:EOG), based in the U.S., is focused on hydrocarbon exploration, exploring, developing, and marketing crude oil, natural gas, and NGLs globally. It is among the list of cheap stocks to buy. While we acknowledge the potential of EOG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and 10 Best Marketing Stocks to Buy Right Now. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Nat-Gas Prices Recover as Hotter Temps Forecast for the Central US
August Nymex natural gas (NGQ25) on Monday closed up by +0.003 (+0.09%). Aug nat-gas prices on Monday recovered from a 6-week low and settled slightly higher as short covering emerged after updated weather forecasts called for above-normal temperatures in the central US, which will boost nat-gas demand from energy providers to power increased air-conditioning usage. Forecaster Vaidsala said temperatures shifted warmer for the middle of the country from July 17 to 21. Energy Demand Optimism and Houthi Rebel Attacks on Red Sea Shipping Boost Crude Prices Crude Prices Climb on Energy Demand Optimism and Middle East Tensions Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Nat-gas prices on Monday initially extended last Thursday's losses after the weekly EIA inventory report showed nat-gas supplies rose more than expected for the week ended June 27 and remained plentiful, at 6.2% above the 5-year average. Lower-48 state dry gas production on Monday was 106.2 bcf/day (+1.7% y/y), according to BNEF. Lower-48 state gas demand on Monday was 74.8 bcf/day (-3.6% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Monday were 14.9 bcf/day (+0.2% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported last Wednesday that total US (lower-48) electricity output in the week ended June 28 rose +3.2% y/y to 99,357 GWh (gigawatt hours), and US electricity output in the 52-week period ending June 28 rose +2.5% y/y to 4,246,983 GWh. Last Thursday's weekly EIA report was bearish for nat-gas prices since nat-gas inventories for the week ended June 27 rose +55 bcf, above the consensus of +49 bcf but below the 5-year average for the week of +61 bcf. As of June 27, nat-gas inventories were down -5.8% y/y, but were +6.2% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 5, gas storage in Europe was 60% full, compared to the 5-year seasonal average of 70% full for this time of year. Baker Hughes reported last Thursday that the number of active US nat-gas drilling rigs in the week ending July 4 fell by -1 to 108 rigs, slightly below the 15-month high of 114 rigs posted on June 6. In the past nine months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
03-07-2025
- Business
- Yahoo
Nat-Gas Prices Fall as Cooler US Temps Allow Nat-Gas Inventories to Build
August Nymex natural gas (NGQ25) on Tuesday closed lower by -0.041 (-1.19%). Aug nat-gas prices on Tuesday added to Monday's significant losses and posted a 5-week nearest-futures low. Ramped-up US nat-gas production and forecasts for cooler US temperatures are hammering nat-gas prices. Forecaster Vaisala said Tuesday that forecasts shifted cooler in the middle of the country for July 6-10 and shifted cooler across the southern states for July 11-15. The cooler weather should potentially curb nat-gas demand from electricity providers to power air conditioning and allow US nat-gas inventories to continue rebuilding. As of June 20, EIA nat-gas inventories were +6.6% above their 5-year seasonal average, signaling adequate nat-gas supplies. Barchart- Commodity Market Roundup- June's Top Performers and Underperformers Dollar Weakness and Iran Concerns Boost Crude Oil Prices Nat-Gas Prices Fall as Cooler US Temps Allow Nat-Gas Inventories to Build Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Lower-48 state dry gas production on Tuesday was 106.6 bcf/day (+3.3% y/y), according to BNEF. Lower-48 state gas demand on Tuesday was 76.7 bcf/day (+6.9% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Tuesday were 15.8 bcf/day (+9.3% w/w), according to BNEF. A decline in US electricity output is negative for nat-gas demand from utility providers. The Edison Electric Institute reported last Wednesday that total US (lower-48) electricity output in the week ended June 21 fell -3.1% y/y to 91,334 GWh (gigawatt hours), although US electricity output in the 52-week period ending June 21 rose +2.6% y/y to 4,243,923 GWh. Last Thursday's weekly EIA report was bearish for nat-gas prices since nat-gas inventories for the week ended June 20 rose +96 bcf, above the consensus of +88 bcf and the 5-year average for the week of +79 bcf. As of June 20, nat-gas inventories were down -6.6% y/y, but were +6.6% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of June 23, gas storage in Europe was 57% full, compared to the 5-year seasonal average of 66% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending June 27 fell by -2 to 109 rigs, slightly below the 15-month high of 114 rigs from June 6. In the past nine months, gas rigs have risen from the 4-year low of 94 rigs posted in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
02-07-2025
- Business
- Reuters
US natgas prices gain over 2% on mid-July heat forecasts, more cooling demand
July 2 (Reuters) - U.S. natural gas futures rose more than 2% on Wednesday, snapping a two-day losing streak, as hotter mid-July forecasts are expected to lift demand for air conditioning over the next two weeks, prompting power generators to burn more gas. Front-month gas futures for August delivery on the New York Mercantile Exchange (NYMEX) were 7.4 cents, or 2.2%, higher at $3.49 per million British thermal units by 10:14 a.m. EDT (1414 GMT). "We're starting to see some heat coming onto the maps for the middle of July, and that's bringing some support back into the natural gas markets," said Gary Cunningham, director of market research at Tradition Energy. "We're also seeing all of the LNG terminals come out of maintenance, and that just creates fundamental support from a base perspective." The main risk lies in how the winter contracts, particularly January, respond after the U.S. Energy Information Administration's weekly storage report due on Thursday, Cunningham said. A smaller-than-expected injection in the low 40s could push the January futures contract toward the $5 level, with winter demand posing the biggest upside risk, he added. Financial firm LSEG said average gas output in the Lower 48 U.S. states has risen to 106.2 billion cubic feet per day so far in July, up from 105.9 bcfd in June, when normal spring pipeline maintenance curbed production. Output remains just below the monthly record high of 106.3 bcfd set in March. LSEG estimated 206 total degree days over the next two weeks, compared with 182 estimated on Tuesday. It also forecast average gas demand in the Lower 48, including exports, increased to 106.1 billion cubic feet per day for the current week from 103.7 bcfd in the prior week. The normal for this time of year is 172 TDDs. Total degree days measure the number of degrees a day's average temperature is above or below 65 degrees Fahrenheit (18 degrees Celsius) to estimate demand to cool or heat homes and businesses. The average amount of gas flowing to the eight big U.S. LNG export plants fell to 14.4 bcfd in June, down from 15.0 bcfd in May and a monthly record high of 16.0 bcfd in April. Meanwhile, Russia's exports of liquefied natural gas in the first half of the year declined by 4.4% from a year earlier to 15.2 million metric tons, LSEG preliminary data showed on Wednesday, amid international sanctions over Ukraine. In particular, the U.S. has imposed sanctions on companies and vessels tied to Russia's new Arctic LNG 2 project because of the conflict in Ukraine, effectively freezing it due to difficulties for Moscow in securing buyers. U.S. President Donald Trump has urged the European Union to buy more U.S. LNG and pledged to boost supply. Hurricanes are a double-edged sword for gas markets. They can drive prices up by cutting offshore production, even if just 2% comes from federal Gulf waters, but just as easily drag them down by knocking out LNG export terminals or slashing demand during widespread power outages. Some storms hit both sides of the equation. "Any Gulf of Mexico tropical activity would have to thread a needle to avoid LNG facilities that are located roughly every 200 miles between Corpus and Plaquemines," BofA Global Research said in a note. "Tropical disruptions to LNG exports would likely be bearish for domestic U.S. natural gas markets but bullish for global gas markets." Dutch and British wholesale gas prices rose on Wednesday morning, rebounding from falls earlier in the week. text_section_type="notes"> For gas data on the LSEG terminal type ENERGY in the search bar and then go to the GAS drop down and the NORTH AMERICA drop down. For Interactive Map, type 'Interactive Map' in the box at upper left of the LSEG terminal For graphics on Baker Hughes rig counts, see: opens new tab For next-day SNL U.S. gas prices, see: For next-day SNL U.S. power prices, see: For U.S. natgas price and storage polls, see: For U.S. nuclear power outages, see: For U.S. Northwest hydro power report, see: NWRFC For U.S./Canada natural gas rig count vs Henry Hub futures price, see: opens new tab For the U.S. natural gas speed guide, see: For the U.S. power speed guide, see: To determine CFTC managed money net position add (NYMEX Henry Hub options and futures combined ) plus (ICE Henry Hub options and futures combined divided by four) plus (NYMEX Henry Hub swaps options and futures combined divided by four) plus (NYMEX Henry Hub penultimate gas swaps divided by four) NYMEX Henry Hub options and futures combined NYMEX Henry Hub futures only ICE Henry Hub options and futures combined NYMEX Henry Hub swaps options and futures combined NYMEX Henry Hub Penultimate gas swaps
