Source: Grok China’s LNG strategy may be shifting just as global markets enter the winter heating season. Reports indicate Beijing has urged its three major state energy companies—CNOOC, PetroChina and Sinopec—to prioritize domestic LNG supplies and curb resales through the winter period. That matters because China has become more than the world’s largest LNG buyer—it has become a significant portfolio trader. IEEFA estimates Chinese companies resold 17–19 million tonnes of L

Tim Beggans covers four headlines on October expiry day: Columbia Gas lifting the MX-P 100 force majeure, thin October open interest, EU storage at ~70% with a month of injections left, and a nor’easter that slammed New Jersey. Also: ERCOT still burning a lot of gas on low wind, a bifurcated U.S. weather map (southern 90s vs Canadian cold into the Plains), the crowded Super El Niño winter channel, UK storage with Rough still empty, JKM off on Hormuz talks, Kitimat’s first wee

Source: EIA This Week's Main Drivers: EIA storage increased +53 BCF, versus +77 BCF last year and +76 BCF for the five-year average. YTD injections remain materially below last year, reinforcing the tighter seasonal setup. October gas broke above $3/MMBtu as Columbia Gas declared Force Majeure on TCO Line 100, impacting roughly 1.8 BCF/D and triggering significant short covering. The U.S. nuclear fleet is entering fall maintenance/refueling, while Cove Point LNG began its ann

Source: To Europe & Beyond The global natural gas market is increasingly divided into two worlds. The U.S. has relatively abundant gas and expanding LNG capacity, while Europe and Asia remain exposed to constrained global LNG supply, geopolitical risk and winter weather. That disconnect is the story — and the risk. Why the Market Has Split U.S. gas remains structurally cheaper because production is strong and LNG export capacity, while expanding, cannot instantly absorb every

Tim Beggans covers an October bounce that is still below the 13- and 48-period EMAs and short of $3, Thursday’s storage setup, ERCOT and national grid demand, lingering Texas heat vs an early-October Canadian cold push, the Jan ’28 vs Apr ’27 injection-season spread at record levels, softer TTF on U.S.–China / Iran talks, EU/UK storage (Rough still empty), Asia weather and Japan Silver Week, quiet Hormuz, U.S. LNG feedgas with Golden Pass ticking higher, Tropical Storm Fay we

Tim Beggans covers four top headlines, October still stuck between the 13- and 48-period EMAs and unable to hold $3, ERCOT and national grid demand, lingering southern heat into early October, EU/UK storage, quiet Hormuz (only ~4% of normal traffic), mixed U.S. LNG feedgas plus a Corpus Christi 2027 outage notice, Tropical Storm Fay weakening in the Mid-Atlantic, ENSO / Hawaii cold pool, and the E&P watch list (MGY back on the board). Top News for Natural Gas: 1.) Tropical S

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

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

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: Gassco Europe’s natural gas market is entering winter with little room for error. Storage remains below last year’s levels, LNG competition is intensifying, and another Norwegian supply disruption is making the margin even thinner. Ormen Lange: Another Hole in the Boat Norway’s Ormen Lange field has become an increasingly important concern. One of its two subsea compressor stations is out of service following a technical failure, cutting production by approximately 8.

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: Al Jazeera (Yemen) Europe is heading into the 2026-27 heating season with one of its weakest natural gas cushions in years. Storage remains well below last year's level and the five-year average, increasing the likelihood of heightened price volatility if winter demand exceeds expectations. The market's greatest uncertainty isn't just storage—it's geopolitics. Iran continues to use the threat of disrupting the Strait of Hormuz as leverage in negotiations over its nucl

Source: NOAA As the calendar moves toward winter, the global natural gas market is quietly shifting from summer injections to winter risk management. Europe enters the second half of the refill season with natural gas storage only 52% full, compared with 60% at the same point last year. Several key countries—including Great Britain, Belgium, and the Netherlands—are sitting at or near five-year storage lows, leaving less margin for error if cold weather arrives early. At the s

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 Natural gas and LNG markets navigated a week of competing bullish and bearish signals as traders balanced summer weather, LNG growth, geopolitical developments, and quarter-end positioning. This Week's Main Drivers: 1. July Contract Expiration and Holiday Trading The expiration of the July NYMEX contract and the upcoming July 4th holiday weekend contributed to heightened volatility and position squaring across energy markets. 2. Heat Arrives, But Demand Remains Un