With the cold weather season coming, natural gas storage is at long-term lows. The U.S. Energy Information Administration’s (EIA’s) October Short-Term Energy Outlook is forecasting natural gas inventories at 3,263 billion cubic feet (Bcf) by the end of the month. That would be the lowest end-of-October cumulative inventory since 2005. The drawdown is attributed to cold weather during the first half of the year.
Temperatures in April were the lowest for the month in more than 20 years, which delayed the natural storage gas refill season by about a month. That came after unusually large drawdowns in in a record-cold January, pushing storage to below the five-year average for most of the summer. Recent late season weekly...
USMCA Re-Negotiations At the Iowa Farm Bureau Economic Summit on Friday, former USTR Robert Lighthizer stated that the USMCA renegotiations should focus on the trade deficit with Mexico rather than the trade pact itself. The U.S. deficit with Mexico exceeds $170 billion, including a net deficit...
What You Need to Know Today: The U.S. and Iran exchanged strikes, with the U.S. hitting Iranian bridges, energy sites, and military infrastructure. Iran launched a missile into Kuwait that damaged a desalination plant. Crude oil futures surged on heightened Middle East tensions, providing supp...
