January gas gained 2.1% to trade at $1.828 at 9:13 a.m. The December 2018 contract rose 1% to $3.061. But new sources of demand, including liquefied natural gas (LNG) exports, deliveries to Mexico and chemical plants that use gas as a feedstock, will help soak up excess supply over the next three years, according to BNP Paribas. Gas futures for January delivery sank 3.2 cents, or 1.8%, on the New York Mercantile Exchange Wednesday to $1.79, the lowest settlement since March 24, 1999. Download Data (XLS File) DOWNLOAD Dollars per Million Btu Henry Hub Natural Gas Spot Price Henry Hub Natural Gas Spot Price 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 0 5 10 15 Data Source: Thomson Reuters. Gas prices are heading for the biggest loss this year since 2006 as booming output from shale formations fills storage caverns across the US. In fact, the cost of securing supplies for December 2018 was $1.271/MMBtu more than for this January’s contract, its biggest premium in data going back to 2008. LNG analysts predict resurgence in US gas prices by 2018, 2019 (17 December 2015): Record-breaking warm temperatures for this time of year may have pushed US gas prices for delivery next month to the lowest level in 16 years, but prices for the fuel for 20 delivery have hardly budged. Minimum Requirement of Construction Allowance.R&R between PM and CM (SM) for the Construction? Business News - Read Latest Financial news, Stock/Share Market News, Economy News, Business News on The Economic Times.Detailed Design and Engineering Deliverable List (Sample).Key Words for Successful Project Execution.Energy Storage System (ESS) and Battery.Gasoline stocks are expected to decrease by 1 million barrels, while distillates, including heating oil and diesel, are seen moving down 2.1 million barrels. * * * December WTI crude inched 9¢ higher to $44.98/bbl despite early expectations for the US Department of Energy to report Wednesday that crude stocks rose by 1.3 million barrels last week. In the West, cash prices at Opal, Wyoming, fell 5¢ to average $2.06, while the SoCal Citygate declined 6¢ to average $2.41 and the PG&E Citygate gained 3¢ to average $2.63 (Daily spot prices). In the northern tier markets, Transco zone 6 New York went up 33¢ to average $2.07, while the Chicago citygates were flat at $2.26. * * * Cash prices at the Henry Hub gained 1¢ to average $2.33, while Transco Station 65 rose 2¢ to average $2.29. The five-year average is 38 Bcf and last year’s injection was 55 Bcf. With the currently storage level at 3,963 Bcf, it will take only 46 Bcf to match the all-time record of 4.009 Bcf set in November 2015. Analyst Stephen Smith is modeling a 49 billion cubic foot storage build, while GMP/First Energy analyst Martin King is modeling a 57 Bcf build when the Energy Information Administration makes its report Thursday for the week ended Nov. benchmark Henry Hub natural gas spot price has averaged below 2.50 per million British thermal units (MMBtu) every month since February of this year. Index change from 2018 to 2019 therefore. * * * Mild weather continues to extend the injection season. As of January 2019, distribution of electricity (grid rent) is included in the index for electricity, gas and steam. The 12-month strip plunged 13.2¢ to $2.855, while the 2017 strip was down 12.6¢ to $2.896 (Futures contracts). The day's losses weren't confined to the near-month contracts. "Last year’s mild winter is still fresh on trader’s minds and there no talk of a polar vortex." The December contract sank 18.3¢ to close at $2.633/MMBtu and traded in a range from $2.63 to $2.856. "Winter is getting off to a delayed start and this has traders rushing to sell," Gelber & Associates analyst Kent Bayazitoglu said. Also weighing on the market, an expected storage build that will push gas inventories to a new record above 4 trillion cubic feet. The prompt-month natural gas futures plummeted 6.5% to the low $2.60s pressured by an updated European winter outlook calling for widespread warmth for much of the central and eastern US.
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