Articles tagged Prices

Baseload natural gas prices continued to move higher in Texas on Tuesday, the second day of July bidweek trading, while in the Southeast, new supply from the startup of a long-awaited pipeline appeared to weigh on prices.

North American natural gas futures prices were in a downward spiral this week and fell for the fifth time in six sessions on Thursday. Both the July and August New York Mercantile Exchange futures contracts had fallen below the $3.00/MMBtu level.

Global natural gas prices were stable Monday as the market weighed easing supply constraints against forecasts for hotter weather in parts of the northern hemisphere and continued geopolitical tensions.

Warm weather across the Northern Hemisphere continues to drag down global natural gas prices as demand remains weak and supplies are healthy. 

Natural gas prices worldwide have continued to edge down as lagging winter weather and abundant storage win out over increasing risks in the Middle East and earthquakes in Japan.

Woodside is further diversifying its LNG portfolio with more U.S.-sourced gas from a new supply agreement with Mexico Pacific Ltd. (MPL), tallying another major offtaker for the proposed Mexican terminal.

Natural gas futures floundered at first on Monday, hindered by autumn-like weather. As the session wore on, though, traders shifted attention to production that remains below recent highs as well as predictions for another lean storage increase.

Natural gas futures were higher on Monday after the weekend models showed hot weather returning to the Lower 48 following the Labor Day holiday. After soaring to a $2.695 intraday high, the September Nymex gas futures contract settled at $2.579/MMBtu, up 3.9 cents from Friday’s settlement. October futures edged up only eight-tenths of a cent to $2.665.

Global LNG prices ratcheted up at the start of the week as the latest news on potential Australian labor action at one of the country’s largest export facilities increased the risk of European and Asian competition ahead of winter.

Asian LNG prices remain higher than those in Europe as weak demand, high storage inventories and mild weather on parts of the continent are keeping a lid on the cost of natural gas.