Articles tagged wind generation

Natural gas futures pushed higher Thursday after the U.S. Energy Information Administration (EIA) reported a rare summer withdrawal of 6 Bcf from storage for the week ended Aug. 9.

Natural gas futures forged upward through early afternoon trading on Wednesday, with the prompt month headed toward a sixth gain in seven sessions.

Natural gas futures rallied five out of six sessions leading into Wednesday in large part because of expectations for a paltry storage print this week.

Against a backdrop of solid demand, possible production cuts and potentially modest August storage injections, natural gas forward prices during the Aug. 1-8 trading period found room to move higher.

For the fourth consecutive week, underground supplies of natural gas in storage in the South Central dwindled, bucking seasonal norms as every other region injected excess fuel into underground stocks.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 21 Bcf natural gas into storage for the week ended Aug. 2. The result, slightly below expectations, came despite a jump in renewable power that threatened a bearish miss.

Natural gas power burns rose to record levels in July and have so far accelerated those gains in early August, defying some forecasts that growth would flatten in the second half of the year.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 22 Bcf natural gas into storage for the week ended July 19. The result exceeded market expectations and kept pressure on Nymex natural gas futures.