Page 9 - Commodity Price News Today

Even with much of the nation in an extreme heat event making record demands on gas-fired power plants, demand for natural gas appears to be nominal at best, and consequently, the price of natural gas, at least the Henry Hub NYMEX futures price, remains mired in the mid-$2 range. The NYMEX price was down again

Last week we told you that the shale production situation in Pennsylvania has caught the eye of the number crunchers at the U.S. Energy Information Administration (see EIA Observes M-U Gas Production Flat, Key PA Counties in Decline). Production in PA, overall, is flat and possibly decreasing. Nationally, production is up in other plays and

The Henry Hub price of natural gas (even physically traded spot prices around the country) are ever-so-gradually moving higher. Yes, we're cheerleaders for higher natgas prices! (Not too high, but certainly higher than the current $2-$3 range.) Even though we're pro-gas and cheerleaders for higher prices (we openly admit our bias), we're also realists, and

More perplexed by events than anything else, world markets stayed relatively calm on Monday after a dramatic Russian military mutiny at the weekend was uneasily quelled. Fractious geopolitics have been front of mind for global investors ever since the pandemic and Russian invasion of Ukraine early last year. The quick truce to avert Progozhin's mercenary mutineers entering Moscow on Saturday left even seasoned Kremlinoligists scratching their heads.

Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. Last month the EIA predicted an average price at the Henry Hub of $2.91/MMBtu for 2023, and $3.72/MMBtu for 2024 (see U.S. NatGas

Last week the Pennsylvania Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report for January through March 2023 (full copy below). There was 120 new horizontal wells spud (drilled) in 1Q23, a big decrease of 27 wells (-18%) compared to 1Q22. Natural gas production volume was 1,838 billion cubic feet (Bcf) in

The American Council for Capital Formation (ACCF) is a nonprofit, nonpartisan economic policy organization that tilts to the conservative side. ACCF advocates for better (and less) regulation, innovation in energy policy, dynamic free trade, and better infrastructure policy. Yesterday the ACCF released a new study that shows the U.S. natural gas market remains "robust" and

Although last week saw a nice increase in the futures price for natural gas (the NYMEX front month contract for June, for gas traded at the Henry Hub in Louisiana), the price decreased once again yesterday, dropping 7.7% (-$0.18) to $2.40/MMBtu, which erased more than half of the gains from last week. Why? Primarily because

Yesterday the NYMEX Henry Hub futures price of natural gas spiked nearly 10% (9.6%)--in a single day. It closed at $2.592/MMBtu, the highest closing number since March 13, over two months ago. The main reason for the price spike is a new weekly gas storage number issued by the U.S. Energy Information Administration (EIA). The

Lately, we've been closely monitoring the price of natural gas, looking for indicators as to when the price will quit bumping around near $2/MMBtu and go higher once again. Two days ago, we told you experts are predicting we’ve now hit bottom, and the price of natgas will begin to rise (see Big NatGas Investor