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Construction of the U.S. portion of its Line 3 oil pipeline will cost $1.1 billion more than expected due to regulatory and court delays in Minnesota, but the CEO of Enbridge Inc. says the project is on track to start delivering "lots of free cash flow" by late this year.
Polar Plunge Fuels Dollar-Plus Gains for Northeast Weekly Natural Gas Prices Buoyed by expectations for the lowest temperatures of the winter season so far, natural gas spot prices rocketed sharply higher during the first week of February. The Northeast’s reputation for extreme volatility was on full display as prices soared beyond $15.000 in some locations. NGI Weekly Spot Gas National Avg. surged 47.5 cents to $3.570. The National Weather Service (NWS) said the low pressure system tracking toward the East Coast could lead to snow from the southern Appalachians to the Mid-Atlantic. There i...
Polar Vortex Drives Massive Gains for Natural Gas Forwards, but Rally Loses Momentum Massive snowstorms and intensifying frigid air in the coming weeks amped up the gains for natural gas forwards in the final days of January into early February. March prices averaged 19.0 cents higher for the period, while solid export demand seen this summer (April-October) lifted the strip an average 8.0 cents, according to Smaller increases were seen for next winter (November 2021-March 2022), but prices were barely changed for the summer 2022 months. Although this winter was heading toward one of the war...
March Natural Gas Prices Close in on $3.00 amid Shrinking Storage, More Frigid Weather Outlook Natural gas futures stage huge comeback as weather models get even colder EIA storage figure shows quickly evaporating storage surplus Most U.S. cash markets recover, but Northeast prices crumble Natural gas traders appeared to have a bit of sellers’ remorse on Thursday, quickly sending futures prices higher after an initial dip ahead of the latest government storage report. After slipping to a $2.734/MMBtu intraday low, the March Nymex futures contract settled Thursday at $2.935, up 14.6 cents on...
Despite retirement of 131.8 GW of coal-fired generation capacity since 2010, about 225.3 GW of such capacity remains operating today, led by Texas, Indiana and West Virginia, and replacing that capacity with low- or no-carbon alternatives by 2050 would likely coincide with declining wholesale power prices, industry observers say. Since 2010, almost 8.5 GW of ...