U.S. natural gas futures rose on Tuesday from a near four-month low following the release of a midday weather report showing a few more colder-than-normal days in mid- to late-January than expected earlier in the day. In the latest afternoon forecast, meteorologists projected temperatures in the U.S. Lower 48 states will remain at warmer-than-normal to near-normal levels before turning cold on several days starting around Jan. 17. That is cooler than the morning outlook when the weather was [Read more]

Oil prices shot more than 1% higher on Monday, with Brent rising above $70 a barrel, after U.S. President Donald Trump issued a threat to impose sanctions on Iraq amid escalating tensions with Iran in the Middle East. U.S. West Texas Intermediate crude was at $63.47 a barrel, up 45 cents, or 0.73%, after touching $64.44 earlier, the highest since April. Brent crude futures soared to a high of $70.27 a barrel at 0222 GMT, up $1.67, or 2.4%, from Friday's settlement. The gains extended [Read more]

U.S. energy firms reduced the number of oil rigs operating for the second straight week as producers follow through on plans to slash spending on new drilling. Drillers cut 7 oil rigs in the week to Jan. 3, bringing the total count down to 670, energy services firm Baker Hughes Co said in its closely followed report on Friday. In the same week a year ago, there were 877 active rigs. Even though the number of rigs drilling new wells has fallen in 2019, U.S. oil output has continued to [Read more]

U.S. natural gas futures slightly extended gains on Friday following the release of a federal government report showing a storage draw in line with expectations. Traders noted that the market had risen in thin trade earlier in the day as traders covered shorts despite forecasts of even milder weather. The U.S. Energy Information Administration (EIA) said utilities pulled 58 billion cubic feet (bcf) of gas from storage during the week ended Dec. 27. The report, normally released on [Read more]

U.S. West Texas Intermediate (WTI) crude futures rose $1.76, or 2.9%, to $62.94 a barrel after a U.S. air strike killed key Iranian and Iraqi military personnel, raising concerns that escalating Middle East tensions may disrupt oil supplies. Brent crude futures jumped nearly $3 to hit a high of $69.16 a barrel, the highest since Sept. 17. The front-month Brent March contract was at $68.25 a barrel, up $2.00, or 3%, by 0258 GMT. "The supply side risks remain elevated in the Middle East [Read more]

U.S. natural gas futures were nearly steady on Tuesday in line with weather forecasts, but the market finished 2019 with its biggest annual decline since 2014. The contract posted a yearly fall of 25.5%, after ending 2018 nearly unchanged. It was one of the biggest decliners among commodities in 2019. For the month, natural gas futures fell about 4%, their second straight monthly loss. Front-month gas futures for February delivery on the New York Mercantile Exchange were up 0.3 cent, or [Read more]

Oil prices edged lower on the final day of the year on Tuesday, but were on track for their biggest annual rise since 2016, supported by a thaw in U.S.-China trade dispute and ongoing supply cuts. West Texas Intermediate (WTI) crude futures sank 89 cents to $60.76 a barrel. Brent crude futures were at $65.74 a barrel, down 88 cents, or 1.35%. The international benchmark has risen around 27% in 2019. Brent has gained about 24% in 2019 and WTI has risen roughly 36% for the year. Both [Read more]

U.S. exporters of liquefied natural gas (LNG) head into 2020 after a record year that saw exports soar by more than 60%, but growing concerns about weakened demand and heavy competition could act as headwinds in the coming year. Four new liquefaction trains - the common term for a shipping facility - entered service this year in the United States. The U.S. is on track to become the biggest global LNG exporter by 2024. LNG is seen as an alternative for Asian countries that have relied on [Read more]