Jodi Shafto joined NGI as a Senior Natural Gas Reporter in October 2023. Before that, she was a business news reporter for South Carolina's largest daily newspaper, The Post and Courier, and was a Senior Energy Markets Reporter at S&P Global Market Intelligence. Based out of Charleston, Jodi has covered US energy markets since 2005 as a reporter, editor and analyst. A New Jersey native, she holds a BS in Journalism from Bowling Green State University.
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Articles from Jodi Shafto
Weekly Natural Gas Spot Prices Mixed Due to Weather; Futures Soar on Tighter Balance
Weekly natural gas cash prices were mixed, as a preview of summer weather sent demand higher in portions of the country, and pipeline maintenance underway or ending provided varied directional support. NGI’s Weekly Spot Gas National Avg. for the May 13-17 period rose 24.0 cents week/week to $1.665/MMBtu. Futures, meanwhile, spent the bulk of the…
May 17, 2024
Natural Gas Futures Extend Rally in Week’s Closing Session
June natural gas futures surged Friday, extending a rally that brought the contract to near a four-month high as fundamentals suggest a balancing market. At A Glance: Futures up 13.1 cents Production stabilized Waha down after storm The front-month contract settled at $2.626/MMBtu, up 13.1 cents day/day. Meanwhile, NGI’s Spot Gas National Avg. tumbled 13.5…
May 17, 2024
Natural Gas Futures Add to Gains as Market Balances, Cash Varies
Natural gas futures on Thursday soared amid rising demand and the release of the latest storage data outlining an injection that was a bullish miss against expectations and historical averages. At A Glance: Storage up 70 Bcf Production dips Demand rises The June Nymex gas futures contract backed off the $2.575/MMBtu intraday high and settled…
May 16, 2024
June Natural Gas Futures Climb Following Bullish Miss in Government Storage Data
The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 70 Bcf natural gas into storage for the week ended May 10. The result was a miss against expectations and historical averages. The print reflected rising demand and listless production, supporting additional gains in Nymex June natural gas futures. About 30 minutes ahead…
May 16, 2024
Enbridge Touts Natural Gas Projects Adding Permian Egress and Supporting LNG, Data Center Demand
Enbridge Inc. management touted a plethora of projects strategically focused on LNG exports and natural gas that are expanding and optimizing the Calgary-based midstream giants’ operations. CEO Greg Ebel recently held an earnings call and reviewed the company’s first quarter results. With “sustainability at the core, Enbridge is “committed to meeting the needs of our…
May 16, 2024
Technicals Suggest Natural Gas Futures’ Sustained Rally Could Be Hard Won
A durable run higher for natural gas futures could take longer as technical indicators suggest bullish strength butting against fundamental pressures. June natural gas futures on the New York Mercantile Exchange (Nymex) slipped 4.9 cents Friday (May 10) to settle at $2.252/MMBtu. On Monday, the prompt-month contract renewed the upside, surging 12.9 cents to settle…
May 14, 2024
Kinetik Signs Pacts, Sells Pipeline Stake to Grow its Permian Presence
Kinetik Holdings Inc. entered agreements for around $1 billion to expand its New Mexico operations and footprint in Permian’s Delaware sub-basin. The Permian Basin pure-play agreed to acquire Durango Midstream LLC for $315 million, with up to $75 million contingent on the final cost of Durango’s Kings Landing project in Eddy County, NM. The 200…
May 13, 2024
U.S. Natural Gas Count Up One as Offshore Rig Added
The U.S. natural gas rig count inched up by one to 103 operating for the week ended Friday (May 10), according to updated figures from oilfield services provider Baker Hughes Co. (BKR). The 103 active U.S. natural gas rigs as of Friday represented a decline of 38 rigs versus the year-earlier count of 141, according…
May 10, 2024
EIA Maintains 2024 Natural Gas Price Forecast, Sees Modest Production Decline Leading to 2025 Record
The U.S. Energy Information Administration (EIA) is projecting a Henry Hub natural gas spot price average at $2.20/MMBtu for 2024, unchanged from the average price the agency modeled a month earlier. In the May release of its Short-Term Energy Outlook (STEO), published Tuesday, EIA said it expects Henry Hub spot prices to average $3.10 for…
May 7, 2024
While ‘Not Yet There,’ Technicals Point Toward a Natural Gas Futures Market Recovery
Technical indicators suggest natural gas bulls could soon take control of the market after a run higher for June natural gas futures on the New York Mercantile Exchange (Nymex). The prompt-month June futures contract first broke above the descending triangle formulation that has been constraining it since mid-February on Thursday (May 2), said NGI’s Pat…
May 7, 2024