Updated Aug 22, 2024
8/22/24
NextDecade Corp. CEO Matt Schatzman said this week that the U.S. Court of Appeals for the District of Columbia Circuit’s decision vacating FERC authorization for its Rio Grande LNG project sets a dangerous precedent. The company, he said, is prepared to take “any and all available legal and regulatory actions” to ensure the project isn’t delayed.
Natural gas futures pushed higher for a fourth day on Friday, supported by weaker spot prices and maintenance projects curbing production, reversing its jump to a five-month high in the previous week.
Natural gas forward basis prices slumped during the July 25-31 trading period, weighed down by a cooling August forecast, robust production and stubbornly high storage inventories. September basis dropped by an average 7.5 cents through the period, with the western United States leading the declines, according to NGI’s Forward Look.
Weekly natural gas cash prices retreated amid seasonally mild temperatures in key sections of the Lower 48 and strong national production.
Modest and directionally mixed forward prices during the July 18-24 trading period hinted at impending strength in natural gas markets amidst ongoing supply concerns and changing weather patterns.
Spooked by blistering heat, natural gas traders sent August baseload prices higher for several locations on the first day of bidweek trading, NGI’s Bidweek Alert (BWA) showed.
Natural gas futures slumped lower for a third straight session on Thursday, hindered by a bearish storage print relative to expectations and elevated supply levels overall.
Modest and directionally mixed forward prices during the July 18-24 trading period hinted at impending strength in natural gas markets amidst ongoing supply concerns and changing weather patterns.
Natural gas futures faltered a second day after a major producer expressed concern about elevated supplies, adding to market worries about hefty storage levels and overshadowing forecasts for strong cooling demand in the weeks ahead.
August natural gas futures were narrowing losses through midday trading Wednesday, supported by EQT Corp. management saying they would continue to “tactically” curtail output into the fall.