Tim Beggans opens with a 9/11 remembrance, then recaps October NG after yesterday’s storage print, the bounce off first support, ERCOT and national grid demand, lingering Texas heat vs incoming northern fall, Europe/Asia weather and storage, TTF/JKM January panic with Hormuz still tight, two tankers at Ras Laffan, strong U.S. LNG feedgas, a historically quiet Atlantic, West drought, and the E&P watch list. Contract / levels: October near 2.817–2.824 Below the 13- and 48-perio

Source: Marine Traffic China remains the larger LNG importer, with 2026 imports projected at roughly 61–64 million MT, versus 28–29 million MT for India. But the more important story this year is how differently the two markets responded to the Iran-US conflict and the disruption of Middle Eastern LNG flows. Month-by-Month Jan–Feb: Demand was relatively normal before the conflict. India imported about 4.45 MT combined, while China’s February imports fell to approximately 3.38

Tim Beggans recaps the week in October NG: holding the 13-period EMA, no 13/48 crossover yet, yesterday’s +30 Bcf storage print, a tightening surplus vs last year and the 5-year average, the Jan–Oct injection spread, cooler ERCOT after Edouard, national heat and power prices, Europe/UK storage and weather swings, Asia cooling, U.S. LNG loadings (including Plaquemines and Golden Pass), tropics, West drought, NOAA’s strong El Niño outlook, and the E&P watch list. Contract / lev

Tim Beggans covers the October contract selloff as Tropical Storm Edward approaches landfall between Beaumont and Houston, lower ERCOT load, battery charge/discharge on the Texas grid, national power-price volatility, the Jan–Oct spread, lingering U.S. heat into mid-September, Europe/Asia weather and storage, Hormuz tanker traffic, U.S. LNG feedgas around the storm track, and the E&P watch list. Contract / levels: October near 2.857–2.872, down ~6–8¢ Testing the 13-period EMA

Tim Beggans covers the top headlines, October price action, last week’s storage print, ERCOT and national grid demand, wind pickup across the Plains, lingering U.S. heat into mid-September, Europe/Asia weather and storage, U.S. LNG loadings, Tropical Storm Dolly remnants plus a 70% Gulf system off Louisiana, West drought, and the E&P watch list. **Top news:** 1. Iran–U.S. exchange of fire — crude and gas bid higher 2. Venture Global CP2 clears a legal hurdle 3. CNOOC signal

Source: CGTN Frontline (China) China’s LNG appetite is changing—and the implications for global gas markets could be significant. China’s 2026 LNG imports are tracking toward 61–64 million tonnes, down from 68.4 million tonnes in 2025. That would mark a second consecutive annual decline. The IEA estimates Chinese gas demand fell 4% YoY from March–June, while LNG imports dropped roughly 12%. This looks increasingly structural. High LNG prices and the Iran/Hormuz disruption exp

Tim Beggans recaps September expiration, the first day of October as front month, yesterday’s EIA storage print, ERCOT heat and fuel mix, national power-price volatility, the Jan–Oct injection spread, lingering U.S. heat into early September, JKM/Europe/Asia weather and storage, Ras Laffan still offline, U.S. LNG feedgas, Tropical Storm Dolly, West drought, and the E&P watch list. Contract / levels: October near 2.880–2.889, down ~2.5¢ Above the 13-period EMA, below the 48-pe

Tim Beggans covers the September contract rally into storage day, technical levels, ERCOT heat and low wind, national power-price volatility, the Jan–Oct injection spread, expanding U.S. heat risk, Europe/Asia weather and storage, Ras Laffan still offline, U.S. LNG feedgas, Invest 96L / potential Hurricane Dolly, a Louisiana spaceport note, and the E&P watch list. Contract / levels: Trading near 2.923–2.937, up ~8–9.5¢ Clear of the 48-period EMA Above daily pivot 2.846 Cleare

Tim Beggans covers the bounce in the September contract, key technical levels, tomorrow’s storage print, ERCOT heat-driven gas burn, the Jan–Oct storage spread, expanding U.S. heat risk, Europe/Asia weather and storage, Ras Laffan still offline, U.S. LNG terminal feedgas, and a quiet Atlantic tropics update. Contract / levels: Trading near 2.839, up ~6.9¢ (~2.5%) Approaching 48-period EMA ~2.873 Above daily pivot 2.757 First resistance now support ~2.817 Testing toward ~2.865

Tim Beggans, President of Elk Trading Company, reviews the latest Goldman Sachs Exchanges discussion with Samantha Dart (Co-Head of Global Commodities Research) on the European natural gas crisis, Qatari LNG disruptions, and what it means for the U.S. market heading into winter. Key topics covered: Seasonality of natural gas demand and why winter is the critical deadline Current U.S. storage and production strength vs. Europe’s inventory shortfall Damage to Qatari LNG trains

Source: EIA This Week's Main Drivers: The EIA reported a +32 Bcf storage injection, slightly tighter than expectations (+35 Bcf) and above both last year (+27 Bcf) and the five-year average (+30 Bcf). The report was largely neutral but reinforced a tightening supply-demand balance. Geopolitics dominated headlines as Qatar extended Force Majeure on LNG exports into mid-October, an LNG vessel was struck by a projectile in the Strait of Hormuz, and the Iran conflict intensified.

Source: EIA Natural gas markets enter July balancing strong summer demand with growing signs that the global LNG market is already shifting its attention toward winter. This Week's Main Drivers: • EIA Storage: +87 Bcf versus expectations of +82 Bcf, above both last year's +61 Bcf and the five-year average of +64 Bcf. The build was modestly bearish but reflects continued robust production. • Heat Wave: Record temperatures across the U.S. Northeast pushed gas-fired power demand

Source: EIA This Week's Main Drivers: The natural gas market received a mixed set of signals this week. The EIA storage report showed a +108 Bcf injection, essentially neutral versus last year's +110 Bcf build but bearish relative to the five-year average of +95 Bcf. Storage continues to refill at a healthy pace, but upcoming injections are expected to moderate as summer demand increases. Weather remained supportive early in the week, with above-normal temperatures boosting c

Source: Google Maps - QatarGas South Area This Week’s Main Drivers U.S. natural gas markets stayed under pressure this week as the EIA reported a +101 BCF storage injection versus market expectations near +95 BCF. The build reinforced concerns that domestic supply remains comfortably above seasonal norms despite improving LNG demand trends. At the same time, several LNG facilities and pipeline maintenance events began wrapping up, helping restore feedgas flows across the Gulf

Source: IEEFA This Week’s Main Drivers Natural gas markets continued grinding higher this week as improving LNG demand, lower U.S. production, and growing global weather risks helped offset still-comfortable storage levels. The EIA storage report came in at +85 BCF, directly in line with expectations. While neutral versus the five-year average of +84 BCF, the build was notably tighter than last year’s +109 BCF injection, reinforcing the idea that the market is gradually tight

Source: EIA This Week Global LNG markets remained highly geopolitical this week as traders assessed whether the Iran conflict has truly ended — and who ultimately controls regional security going forward. The reopening of the Strait of Hormuz became a central focus, with ADNOC successfully moving a second LNG tanker through the corridor, helping calm immediate supply fears while raising new questions around future pipeline and export infrastructure investments designed to byp

Global LNG flows are being reshaped in real time—and Europe is in a tightening race against the market. Flexible cargoes that once cleared into the Atlantic Basin are increasingly heading east. The driver is clear: Japan-Korea Marker (JKM) pricing continues to command a premium over Title Transfer Facility (TTF), often exceeding the full marginal shipping cost from the U.S. Gulf Coast. When that spread holds, molecules follow price—away from Europe. That shift comes at a crit

Source: By Matthew Smith @ Flickr - https://www.flickr.com/photos/96701339@N04/39650222120/, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=83823860 Global natural gas markets have shifted abruptly from a winter weather narrative to a geopolitical one. As of mid-March 2026, escalating conflict in the Middle East has triggered one of the most volatile weeks for LNG markets in years, exposing the growing link between geopolitics, LNG trade flows, and regional gas pr

Source: https://oilgas-info.jogmec.go.jp/nglng_en/ For decades, global gas markets moved to different rhythms. Europe followed TTF, Asia followed JKM, and carbon prices lived in their own universe. That fragmentation is fading fast. The reason is U.S. LNG. Unlike legacy LNG supply, U.S. cargoes generally lack destination clauses, allowing molecules to flow wherever netbacks are strongest. As U.S. export volumes scale higher, these flexible cargoes are increasingly arbitraging

Source: TradingView (TTF-HH Spread) The spread between Europe’s Title Transfer Facility (TTF) and U.S. Henry Hub (HH) natural gas...