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ET, have been wide-ranging. OilMonster Author. The prompt month dropped further to around $2.652 when the EIA EIA submits this report The Q2 forecast stayed flat at $2.88/MMBtu. The natural gas liquids (NGPL) composite price is derived from daily Bloomberg spot price data for natural gas liquids at Mont Belvieu, Texas, weighted by gas processing plant production volumes of each product as reported on Form EIA-816, "Monthly Natural Gas Liquids Report." It forecast that gas use for power generation would be 1.43 trillion kWh in 2021 and 1.397 trillion kWh in 2022, up 3% and 5% respectively from the January estimates. The first and most important question is when will natural gas prices go up. The EIA Weekly Natural Gas Storage Report is released at 10:30 a.m. EST on Thursday every week. Price: The EIA forecasts an average price of $2.07 per MMBtu over the course of 2020, down 4.2% from the September forecast. It expects 2021 prices to The report In 2024, IMF forecasts that the Henry Hub price will increase to $2.65 per MMBtu. EIA forecasts that U.S. production of dry natural gas averaged 87.8 Bcf/d in February, which is down from 92.4 Bcf/d in December (the most recent month that has final data). Price: The EIA forecasts an average price of $2.07 per MMBtu over the course of 2020, down 4.2% from the September forecast. The reductions are due to storm-related LNG demand disruptions. Latest update: December 21, 2020. By Anil Mathews. EIA forecasts that 2022 will be the first year that more natural gas is exported from the United States as liquefied natural gas rather than by pipeline, Capuano said. With fuel costs on the rise, the U.S. Energy Information Administration (EIA) forecasts that generation from natural gas-fired power plants will decline for the first time since 2017, by about 8 percent this year. Natural Gas Intelligences (NGI) model predicted a 104 Bcf pull for the week ending March 5. Giving its prediction for natural gas prices in 2020, EIA forecasts natural gas prices to average $2.48/MMBtu, which is 13 cents lower than the 2019 average price. for week ending February 19, 2021 | Released: February 25, 2021 at 10:30 a.m. | Next Release: March 4, 2021 . Natural Gas Price Fundamental Daily Forecast EIA Could Report 76 Bcf Withdrawal Traders expect to see a modest withdrawal in Thursdays EIA weekly storage report. Price: The EIA forecasts an average price of $2.07 per MMBtu over the course of 2020, down 4.2% from the September forecast. The "net change" in reported stock levels reflects all events affecting working gas in storage, including injections, withdrawals, and reclassifications between base and working gas. A lower natural gas price forecast reflects a slowing of US natural gas export growth and decline in natural gas demand, which keeps inventories bigger than average, even regarding slower natural gas production. Because natural gas is used to generate a large share of the electricity in Texas (52% in February 2020, according to the U.S. Energy Information Administrations (EIA) Electricity Data Browser), a drop in natural gas-fired generation during the cold weather event significantly affected total electricity generation. Weekly Natural Gas Storage Report - EIA See All Natural Gas Reports Weekly Natural Gas Storage Report. This follows a year of the lowest natural gas prices in decades, at a 2020 nominal price of $2.37 per million Btu. But as one can see, the commoditys price is set for an uptick in 2021, primarily due to Ahead of the EIA report, the April Nymex natural gas contract was down 2.0 cents at $2.672/MMBtu. Annual U.S. liquefied natural gas exports forecast to exceed pipeline exports in 2022 tags: LNG Mexico exports/imports international natural gas pipelines EIA forecasts the U.S. will import more petroleum than it exports in 2021 and 2022 In a statement accompanying the report, EIA Administrator Linda Capuano said the 2.5% decline in gas consumption in 2019 and expected declines through 2022 are "primarily related to rising natural gas prices that make natural gas less economic for generating electricity." This report tracks U.S. natural gas inventories held in underground storage facilities. Reflecting lower regional natural gas price assumptions in EIA's electricity generation model than in the prior month, the EIA also increased its estimates for gas use in the power sector for 2021 and 2022. Working gas in underground storage, Lower 48 states Summary text CSV JSN : Historical Comparisons: Stocks billion cubic feet (Bcf) Year ago (02/26/20) 5-year average U.S. EIA Lifts Forecasts for 2021-22 Natural Gas and Power Consumption. However, the latest EIA Weekly Natural Gas Storage Report for the period ending January 15 reflects an improving situation, with levels continuing to trend closer to the 5-year average following a weekly 187 Bcf inventory decrease. The April natural gas futures contract failed to make a big impression on its first day at the front of the Nymex curve. Natural gas price predictions for the next 5 years. It reflects a weekly estimate of the volume of natural gas stored in the storage facilities of 48 US states, divided into 5 geographic regions. Industry Segment: Power | Word Count: 409 Words. AEP, EIA Natural Gas Forecast: Your Daily Energy News. for week ending February 26, 2021 | Released: March 4, 2021 at 10:30 a.m. | Next Release: March 11, 2021 . Weekly Natural Gas Storage Report - EIA See All Natural Gas Reports Weekly Natural Gas Storage Report. Natural Gas. Weekly Natural Gas Storage Report Performance Evaluations. It expects 2021 prices to average $3.13 per MMBtu, 1.9% lower than the previous forecast. But what is the natural gas price forecast in the long term? The EIA projects prices that are substantially higher than where the market is trading; by about $0.24/MMBtu in 2021 and $0.58/MMBtu in 2022! The latest Weekly Natural Gas Storage Report (released March 4) from the US Energy Information Administration (EIA) revealed that underground storage levels Performance Evaluation 2017 - 2019 PDF - Released December 2020 Performance Evaluation 2014 - 2016 PDF - Released May 2017 Performance Evaluation 2011 - 2013 PDF - Released September 2014 Performance Evaluation 2008 - 2010 PDF - Released June 2011 Background. EIA forecasts that natural gas inventories will ultimately end the 2021 injection season (end of October) at almost 3.7 Tcf, which is 2% less than the five-year average. Predictions for this weeks Energy Information Administration (EIA) storage report, scheduled for 10:30 a.m. The indicator provides an estimated net change in the inventory levels of natural gas, which is significant to natural gas Warm adjustments to the forecast and lingering questions surrounding bearish government inventory data pressured natural gas futures lower early Lets cut to the chase and look at the EIAs natural gas price forecast relative to the forward curve. Natural Gas Price Fundamental Daily Forecast Wide Range of EIA Report Guesses as Heating Demand Fades The EIA is scheduled to release its weekly storage report at Natural Gas; Natural Gas March 12, 2021 01:36:32 AM. Read More Natural Gas Price Fundamental Daily Forecast EIA Expected to Report Higher-Than-Average 120 Bcf Draw The daily chart indicates potential resistance at $2.685 to $2.760. The agency estimated that gas consumption in February was the highest on record, at 111.8 Bcf/d, as cold weather blanketed much of the US, driving up demand for heating and power generation. Natural Gas Price Fundamental Daily Forecast Todays EIA Report Could Challenge 2018 Record Draw of 359 Bcf Traders are saying that todays EIA report will finally be enough to Natural Gas. We have handpicked and summarized a selection of energy-related news stories that we think will interest clients of Industrial Info and IIR Energy. Highlights Crude oil price uptick seen boosting gas production After downturn, electricity consumption seen growing 2.1% in 2021 Washington Higher forecasted crude oil prices and an assumptions of an improved US economic outlook prompted the Energy Information Administration March 9 to boost its forecasts for natural gas production and consumption, despite the February freeze The Natural Gas Storage Indicator is an estimate of working gas in storage at both the national and regional levels, as reported by the U.S. Energy Information Administration (EIA). EIA reported a withdrawal of 52 Bcf The result fell far short of market expectations Cash prices clawed out a modest gain Natural gas futures on Thursday lost ground for the sixth time in The weekly stocks generally are the volumes of working gas as of the report date. Natural Gas. The Q2 forecast stayed flat at $2.88/MMBtu. See Definitions, Sources, and Notes link above for more information on this table. [ March 10, 2021 ] Natural Gas Prices May Rise on Colder Weather Forecast, EIA Inventory in Focus Forex News [ March 10, 2021 ] BRK Brookside Energy Stock News [ March 10, 2021 ] Asian Stocks Mostly Up, but Investors Keep Wary Eye Data from the US Energy Information Administration has shown historically elevated inventory levels this season. The US Energy Information Administration calculates and publishes the indicator in a separate report. Companies featured: American Electric Power (NASDAQ:AEP) Listen to Today's News; Daily News RSS Feed; Daily News on iTunes; Login or EIA raised its forecast for Q1 Henry Hub natural gas spot prices by 79 cents to $3.64/MMBtu.