On September 19, 2023, the US Environmental Protection Agency (EPA) Office of Inspector General (OIG) issued its conclusions after conducting an audit of EPA’s Renewable Fuel Standard.
Natural gas futures traded near even Wednesday as the market opted to stay put ahead of the release of government storage data expected to show a ramp up in injections. Shoulder season weather continued to limit spot market action across most regions, though prices fell in constrained West Texas and across much of the West; the NGI National Spot Gas Average fell 3 cents to $2.32.
The February Nymex natural gas futures contract ended on a positive note Tuesday, recovering from early losses as long-range forecasts hinted at more cold arriving after a milder break next week. In the spot market, Midwest prices surged for a second straight day as forecasters were looking for the most extreme temperatures from this week’s polar cold front to hit the region Wednesday; theNGISpot GasNational Avg.added 77.5 cents to $4.400/MMBtu.
December natural gas futures were trading 4.9 cents lower at $3.188/MMBtu shortly before 9 a.m. ET Friday as forecasts overnight advertised the potential for milder conditions in the East toward the second half of November.
It was another week in the red for natural gas forward markets as January prices shed an average 15 cents from Dec. 8-14 as significantly colder weather forecast for the remainder of the year was not enough to take down near-record production in the Lower 48, according to NGI’s Forward Look.