Natural Gas & Oil
March '26 Trading range: $3.00 to $3.09.
We saw minimal movement in the market today for NYMEX prices, continuing to pull back from last week's 1-month high.
Some Basis prices are finding support, especially in the West where extreme heat is expected to increase further before cooling off by this time next week.
Oil prices saw a small rally as Iran attacks disrupt Middle Eastern supplies/operations.
LNG
- Exports for the past 5 days have been over 20Bcf
- New terminals are opening in just a few months
- The U.S. currently supplies approximately 33% of the world's LNG with global LNG demand expected to increase as much as 68% by 2040
Power
- Snowcaps in the West are all but gone while this current heatwave punishes the region
- These disappearing snowcaps will directly affect Hydro power generation
- Solar in the West continues to suppress natgas demand
Today's Drivers
The Bears – HDDs expected to drop by week's end, record production, and a probable injection on Thursday's storage report.
The Bulls – LNG exports surpass 20Bcf/D, rising global LNG demand, geopolitical tension.
Today's Special – Solar Panels for your Balcony!
Virginia has passed legislation (HB 395/SB 250) legalizing "balcony solar" plug-in devices up to 1,200 watts.
Utah was first to do this, making Virginia the second state to permit these systems without utility approval, enabling any jughead to slap a panel on their balcony.
The law enhances renter access and claims to lower energy costs but raises concerns regarding safety and output limitations.
To claim this is in any way useful is laughable.
Our Nightcap Beats Their Recap