Daily Fundamental Natural Gas Price Forecasts

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Optimistic outlook for LNG demand

Traders attributed some of last week’s gains to a steady increase in demand for liquefied natural gas (LNG). NGI reported, “With Thursday’s deadline for terminal cargo cancellations from Cheniere Energy Inc. and indications that less than 10 cargoes could be canceled for October, bullish traders jumped up and sent the month fast to the month. highest settlement in months.

Two hurricanes could focus on key production areas

Two large tropical storms are forming and appear to be targeting the Gulf Coast of Texas. A direct hit on the area predicted by the cone charts is for production, LNG exports and domestic demand.

NGI reported that two of the largest deepwater operators in the Gulf of Mexico (GOM), PB plc and Royal Dutch Shell plc, began evacuating workers from rigs and rigs on Friday.

The National Hurricane Center (NHC), in its Friday afternoon update, said on the forecast track that Tropical Storm Laura would move near or over Puerto Rico on Saturday morning and near the north coast of ‘Hispaniola late Saturday and early Sunday. Tropical Depression 14, which would become Marco if it strengthened as expected, was on track to approach the east coast of Mexico’s Yucatan Peninsula on Saturday before moving north over central GOM -western Gulf Sunday and Monday, the NHC said.

For an overview of all of today’s economic events, check out our economic calendar.

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