Latest news with #BNEF
Yahoo
3 days ago
- Business
- Yahoo
Forecasts for Hotter US Weather Boost Nat-Gas Prices
August Nymex natural gas (NGQ25) on Friday closed up +0.016 (+0.52%). Aug nat-gas prices recovered from early losses Friday and settled higher after US weather forecasts shifted to warmer, which would boost nat-gas demand from electricity providers for air conditioning usage. Forecaster Atmospheric G2 said Friday that forecasts shifted warmer across the central and eastern US for August 4-8. More News from Barchart Dollar Strength and Dampened Trade Deal Optimism Undercut Crude Prices Crude Prices Fade on Dollar Strength and Waning Trade Deal Optimism Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Nat-gas prices on Friday initially moved lower on strength in US nat-gas output with recent production up year-over-year. In addition, expectations for even higher US nat-gas production are also weighing on nat-gas prices after Friday's weekly report from Baker Hughes showed that the number of active US nat-gas drilling rigs in the week ending July 25 rose by +5 to a nearly 2-year high of 122 rigs. Lower-48 state dry gas production on Friday was 107.2 bcf/day (+3.1% y/y), according to BNEF. Lower-48 state gas demand on Friday was 80.9 bcf/day (+0.9% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Friday were 14.7 bcf/day (-5.4% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported Wednesday that total US (lower-48) electricity output in the week ended July 19 rose +2.1% y/y to 99,373 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 19 rose +2.4% y/y to 4,251,059 GWh. Thursday's weekly EIA report was bullish for nat-gas prices since nat-gas inventories for the week ended July 18 rose +23 bcf, below the consensus of +27 bcf and the 5-year average of +30 bcf for the week. As of July 18, nat-gas inventories were down -4.8% y/y, but were +5.9% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 22, gas storage in Europe was 66% full, compared to the 5-year seasonal average of 74% full for this time of year. Baker Hughes reported Friday that the number of active US nat-gas drilling rigs in the week ending July 25 rose by +5 to a nearly 2-year high of 122 rigs. In the past ten months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Forecasts for Milder US Weather Weigh on Nat-Gas Prices
August Nymex natural gas (NGQ25) on Tuesday closed down -0.073 (-2.20%). Aug nat-gas prices extended Monday's sharp losses on Tuesday and posted a 1.5-week low on the outlook for cooler US temperatures, which would curb nat-gas demand from electricity providers for air conditioning usage. Forecaster Vaisala on Tuesday said forecasts shifted cooler for the Midwest in the latter half of the July 27-31 period, and milder conditions are expected to continue for August 1-5 over much of the US. More News from Barchart Nat-Gas Prices Sink on the Outlook for Cooler US Temps and Higher Gas Production Crude Oil Prices Pressured by Concerns of Oversupply Crude Oil Prices Slip on Concerns of a Mounting Global Oil Supply Glut Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Expectations for higher US nat-gas production are also weighing on nat-gas prices after last Friday's weekly report from Baker Hughes showed that the number of active US nat-gas drilling rigs in the week ending July 18 rose by +9 to a 17-month high of 117 rigs. Lower-48 state dry gas production on Tuesday was 107.2 bcf/day (+3.9% y/y), according to BNEF. Lower-48 state gas demand on Tuesday was 78.1 bcf/day (-2.8% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Tuesday were 14.9 bcf/day (-1.1% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported last Wednesday that total US (lower-48) electricity output in the week ended July 12 rose +1.1% y/y to 98,133 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 12 rose +2.4% y/y to 4,248,982 GWh. Last Thursday's weekly EIA report was slightly bearish for nat-gas prices since nat-gas inventories for the week ended July 11 rose +46 bcf, above the consensus of +45 bcf and the 5-year average of +41 bcf for the week. As of July 11, nat-gas inventories were down -4.9% y/y, but were +6.2% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 17, gas storage in Europe was 65% full, compared to the 5-year seasonal average of 73% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending July 18 rose by +9 to a 17-month high of 117 rigs. In the past ten months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Nat-Gas Prices Tumble as US Weather Forecasts Cool
August Nymex natural gas (NGQ25) on Wednesday closed down -0.175 (-5.38%). Aug nat-gas prices added to this week's sharp losses on Wednesday and dropped to a 2.75-month low due to forecasts for cooler US weather, which would curb nat-gas demand from electricity providers for air conditioning usage. Forecaster Atmospheric G2 said Wednesday that forecasts shifted generally cooler across the US for August 2-6. More News from Barchart Array Technologies (ARRY) Just Flashed a Statistically Significant Reversal Signal for Options Traders Forecasts for Milder US Weather Weigh on Nat-Gas Prices Crude Oil Price Fall on Concern About Energy Demand Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Also, stronger US nat-gas output is weighing on prices with recent production up year-over-year. In addition, expectations for even higher US nat-gas production are also weighing on nat-gas prices after last Friday's weekly report from Baker Hughes showed that the number of active US nat-gas drilling rigs in the week ending July 18 rose by +9 to a 17-month high of 117 rigs. Lower-48 state dry gas production on Wednesday was 108.8 bcf/day (+4.5% y/y), according to BNEF. Lower-48 state gas demand on Wednesday was 79.5 bcf/day (-4.2% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Wednesday were 15.0 bcf/day (+1.0% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported Wednesday that total US (lower-48) electricity output in the week ended July 19 rose +2.1% y/y to 99,373 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 19 rose +2.4% y/y to 4,251,059 GWh. The consensus is that Thursday's weekly EIA nat-gas inventories will increase by +27 bcf for the week ended July 18, just below the five-year average for the week at +30 bcf. Last Thursday's weekly EIA report was slightly bearish for nat-gas prices since nat-gas inventories for the week ended July 11 rose +46 bcf, above the consensus of +45 bcf and the 5-year average of +41 bcf for the week. As of July 11, nat-gas inventories were down -4.9% y/y, but were +6.2% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 21, gas storage in Europe was 65% full, compared to the 5-year seasonal average of 74% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending July 18 rose by +9 to a 17-month high of 117 rigs. In the past ten months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Bloomberg
7 days ago
- Science
- Bloomberg
Inside the Blackout That Froze the Iberian Power Grid
When the Iberian electrical grid blacked out earlier this year, there were real-life consequences. Widespread disruption of transportation, communication networks and essential services left Spain and Portugal temporarily paralyzed. Following the event, two separate reports were released by the Spanish government and the grid operator, Red Electrica de Espana, where both agreed that voltage fluctuations were the root cause of the outage. However, they then went on to present conflicting opinions as to why authorities were unable to bring voltage under control. So why did this voltage fluctuation occur in the first place, and what actions have been taken to protect the Iberian electricity grid from future incidents? On today's show, Tom Rowlands-Rees is joined by Eva Gonzalez Isla, a senior associate from BNEF's grids team, to discuss findings from her research note 'Iberia Blackout: Blame Before Facts'.
Yahoo
17-07-2025
- Business
- Yahoo
Nat-Gas Prices Erase Early Gains as Weekly EIA Inventories Build
August Nymex natural gas (NGQ25) on Thursday closed down -0.009 (-0.25%). Aug nat-gas prices on Thursday fell from a 2.5-week high and settled slightly lower after weekly EIA nat-gas supplies rose more than expected. The EIA reported that nat-gas inventories rose by +46 bcf in the week ended July 11, above expectations of +45 bcf. Nat-gas prices initially rallied on Thursday due to warmer US weather forecasts, which could boost nat-gas demand from electricity providers to meet increased air conditioning usage. Forecaster Vaisala said forecasts remain above normal for the July 22-26 period across the US, with highs in the mid-90s expected in the middle of the country and in the east for the second half of the period. More News from Barchart Nat-Gas Prices Continue Higher on Hot US Weather Forecasts Crude Oil Prices Fall Due to a Focus on Oil Surplus Crude Oil Prices Fall Due to a Focus on Oil Surplus Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Lower-48 state dry gas production on Thursday was 107.2 bcf/day (+4.3% y/y), according to BNEF. Lower-48 state gas demand on Thursday was 80 bcf/day (-1.6% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Thursday were 15.3 bcf/day (-2.2% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported Wednesday that total US (lower-48) electricity output in the week ended July 12 rose +1.1% y/y to 98,133 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 12 rose +2.4% y/y to 4,248,982 GWh. Thursday's weekly EIA report was slightly bearish for nat-gas prices since nat-gas inventories for the week ended July 11 rose +46 bcf, above the consensus of +45 bcf and the 5-year average of +41 bcf for the week. As of July 11, nat-gas inventories were down -4.9% y/y, but were +6.2% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 15, gas storage in Europe was 63% full, compared to the 5-year seasonal average of 72% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending July 11 was unchanged at 108 rigs, slightly below the 15-month high of 114 rigs posted on June 6. In the past nine months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
