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Strap in--the roller coaster ride continues. Yesterday the NYMEX Henry Hub front-month (July) futures contract for natural gas plunged 10%, by $0.62, following news that more gas was stored ("injected") than previously anticipated by analysts and traders. Storage inventories rose to 2.169 Tcf (trillion cubic feet) for the week ended June 17 following a 74
Have you been watching the NYMEX Henry Hub futures price? It's been dropping like a rock since last week when a fire caused Freeport LNG and its 2 Bcf/d of exported LNG to go offline (see NYMEX NatGas Down 20% in Single Day on Freeport LNG Bad News). Freeport will be largely offline for most
RBI will need a single-minded inflation focus to ensure macro stability as risks of stagflation rise globally
Leading to the poor Automobiles & Auto Parts sector output performance had also been the weakness in demand recorded in May. Read more here.
Not many months ago it appeared the Marcellus/Utica was about to replay a movie we've seen before: not enough pipelines to move our gas to better-paying markets leading to a crash in the regional price for natural gas. We can't count how many years the M-U drillers bumped along getting around $1/Mcf for M-U gas,