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New Delhi [India], June 19 (ANI): Hindustan Petroleum Corporation Ltd (<keyword id="6362419" type="General" weightage="20" keywordseo="HPCL" source="Orion">HPCL</keyword>), which is enhancing its footprints in the <keyword id="6354703" type="General" weightage="100" keywordseo="natural-gas" source="Orion">natural gas</keyword> market, on Monday said it has secured a major long-term contract from ONGC Petro additions Ltd (OPaL) for the supply of natural gas. <br /><br />HPCL will supply natural gas to ONGC Petro additions Ltd's petrochemical complex at Dahej in Gujarat. <br /><br />OPaL, a joint venture of ONGC, GAIL and GSPC, requires natural gas for operating its own captive power plant for supporting its power and steam requirements. <br /><br />In a stock filing, HPCL said it has won the contract through competitive bidding against a tender floated by OPaL. <br /><br />"HPCL will be supplying 13.53 Trillion Btu of Natural Gas to OPaL during the period October 23 to May 26 under this contract," the filing said. <br /><br />HPCL has ambitions in the natural gas business and is focused to build a strong foothold in the petrochemical and fertilizer sectors. <br /><br />Further, HPCL informed stock it has entered into an agreement with Automin Car Services Pvt Ltd, a subsidiary of Petromin Corporation, Saudi Arabia to establish co-branded HP-Petromin Express vehicle service centres across India. <br /><br />Petromin is a leading mobility solutions player in automotive technology with more than 700 multi-brand quick-service outlets across the GCC region. <br /><br />"This strategic partnership aims to provide world-class customer experiences at affordable prices and offer a comprehensive range of solutions under one roof, including lube change, light repairs, periodic maintenance, battery replacements, tire services, air conditioning repairs and eco carwash facilities," it added. <br /><br />The co-branded HP-Petromin Express vehicle service centres will be located in HPCL's retail outlets in metros and other major cities across India. (ANI)<br /><br />

HPCL bags contract from OPaL for supply of natural gas

14 incredible photos of natural wonders that look Photoshopped but aren't

<ul class="summary-list"><li>Europe should be ready for <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> to completely shut off all its <keyword id="6354703" type="UNKNOWN" weightage="60" keywordseo="natural-gas" source="Orion">natural gas</keyword> exports, the IEA chief said. </li><li>"The nearer we are coming to winter, the more we understand Russia's intentions," he said. </li></ul><p>Europe, should be prepared for the Russia to stop supplying the region completely this winter, the International <keyword id="11917806" type="UNKNOWN" weightage="60" keywordseo="energy" source="Orion">Energy</keyword> Agency told the <a href="https://www.ft.com/content/f7990162-395f-488e-9d23-13f3cce83e24">Financial Times</a>. </p><p>"The nearer we are coming to winter, the more we understand Russia's intentions," IEA head Faith Birol said. "Europe should be ready in case Russian gas is completely cut off," he added. </p><p>Russia wreaked havoc among several <keyword id="11911313" type="UNKNOWN" weightage="60" keywordseo="eu" source="Orion">EU</keyword> countries after it recently <a href="https://www.businessinsider.com/europe-energy-emergency-plans-coal-power-russia-cuts-gas-supply-2022-6">cut gas supplies over an equipment delay</a> in Canada. <a href="https://www.businessinsider.com/russia-cuts-gas-supply-germany-siemens-equipment-stuck-canada-sanctions-2022-6">Russian state giant Gazprom</a>, for instance, terminated natural-gas supplies via the <keyword id="13275169" type="UNKNOWN" weightage="60" keywordseo="nord-stream" source="Orion">Nord Stream</keyword> pipeline to Germany by 40% earlier this month. </p><p>Against this backdrop, benchmark European natural gas futures were trading Wednesday at their highest since March at around 130 euros per megawatt hour ($136), having almost doubled in the last 12 months. </p><p>Russia's decision has subsequently forced countries including Germany, Italy, and the Netherlands to draft emergency plans to shift to coal for power generation if natural gas supplies drop. To that effect, Germany and Austria have taken the decision to fire-up old coal power plants out of necessity. </p><p>"This is bitter, but it's essential in this situation to reduce gas consumption," Robert Habeck, economy minister and a senior member of the Green party, said in a recent statement.</p><p>Meanwhile, Denmark said natural gas would be rationed so that consumers could have winter heating. </p><p>Europe relies on Russia for 40% of its natural gas. Its leaders are preparing phase out imports of crude oil and coal this year, but have no such plans for gas imports. </p><p>Despite Russia citing logistical hold-ups as the reason for the drop in exports, Birol said there may be an ulterior motive at work in the run-up to the winter. </p><p>"I believe the cuts are geared towards avoiding Europe filling storage, and increasing Russia's leverage in the winter months," he said. He noted however that EU countries' move to lean on coal as a backup would be '"temporary" and it would work to preserve gas supplies in the winter months. </p><p>"I believe there will be more and deeper demand measures [taken by governments in Europe] as winter approaches," he said. That means European countries "should consider postponing closures [of nuclear power plants] as long as the safety conditions are there," Birol said. He also urged governments to invest in clean energy more to reduce fossil fuel demand.</p><p>"Unless governments sit in the driving seat and mobilize major funds to create a clean energy transition, we will have to deal with extreme volatility in energy," he said. Such a view was echoed by <a href="https://markets.businessinsider.com/news/commodities/russian-oil-us-eu-disuss-cutting-revenue-janet-yellen-2022-6">US Treasury Secretary Janet Yellen</a> who recently called on lawmakers to go green as gasoline prices soar in the US. </p>

Europe should be prepared for Russia to totally cut all natural gas supplies this winter, IEA chief says

<p><keyword id="6354703" type="COMPANY" weightage="60" keywordseo="Natural-gas">Natural gas</keyword> prices are way up this morning on a bullish Energy Department report, extending a solid two-months' worth of gains.</p>
<p>Futures were up 2.67% after DOE <a href="https://twitter.com/EIAgov/status/324892903484846081">reported</a> a lower-than-expected 31 billion cubic feet were added to benchmark inventories.</p>
<p>That's was also below the five-year-trend. </p>
<p>Here's the intraday chart:</p>
<p><table class="image-container" width="200"><tr><td><div class="image"></div><p class="source"><a href="http://www.investing.com/commodities/natural-gas">Investing.com</a></p></td></tr></table></p>
<p>And here are ticks going back to mid-February. The rally has been fueled almost entirely on the long, (long, long...) winter much of the East coast has experienced. Citi's Timothy Evans says that as soon as spring comes the rally will fade. From his insta-note this morning:</p>
<p style="padding-left: 30px;"><span>Although the data revives the upside potential for prices in the near term, we still consider the rally as more fragile than it might appear as it is still weather dependent.</span></p>
<p><table class="image-container" width="200"><tr><td><div class="image"></div><p class="source"><a href="http://www.investing.com/commodities/natural-gas-advanced-chart">Investing.com</a></p></td></tr></table></p>
<p>In case you missed it, Goldman is calling natural gas <a href="http://www.businessinsider.com/goldman-short-gold-long-natural-gas-2013-4">"the new safe haven."</a></p>

Natural Gas Is Surging

<ul class="summary-list"><li>Commodity trading houses are facing margin calls as prices for natural gas spike, Reuters reported Monday. </li><li>Brokers and exchanges are telling major commodity traders to deposit funds to cover their exposure to surging gas prices.</li><li>Sources told Reuters trading houses and other players together had accumulated $30 billion worth of short positions in the Dutch TTF gas market. </li></ul><p>Brokers and exchanges are telling major commodity trading houses to deposit hundreds of millions of dollars in extra funding to cover their exposure to surging gas prices, according to <a href="https://www.reuters.com/business/energy/exclusive-commodity-traders-face-big-margin-calls-gas-prices-soar-2021-10-04/">a Reuters report on Monday</a>. </p><p>Commodity traders Glencore, Gunvor, Trafigura and Vitol and others are facing margin calls on their positions in natural gas <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>, seven unnamed sources told the news agency. </p><p>A margin call occurs if funds in the account fall below the minimum margin requirement, which Reuters said, in this case, is 10% to 15%. </p><p>Two sources said trading houses and other players had together accumulated $30 billion worth of short positions in the Dutch TTF gas market, with European utilities positioning on the opposite long side of the play. The Dutch TTF gas market hub is the main platform for building a short position in gas futures. </p><p>Trading firms have made big bets on natural gas produced and exported from the US by signing long-term contracts to buy cargoes of liquefied natural gas (LNG). The contracts are mainly designed to export gas to Europe and Asia and some contracts run through 2041. </p><p>"While there have been margin calls associated with the European natural gas price rally, Gunvor maintains a healthy liquidity position and instruments to manage any further volatility," a company spokesperson told Reuters.  Glencore, Trafigura and Vitol declined Reuters' request for comment.</p><p>In order to hedge against price differences between physical gas in the US now and the rest of the world in the future, traders need to sell short positions in the European and Asian gas futures markets. Traders create short positions by selling a gas futures contract with the aim of buying it again later at a lower price. </p><p>But Reuters said the strategy backfired last month when European gas prices surged on a range of factors including low inventories and high demand in Asia. The front-month Dutch TTF gas contract, a European benchmark, has soared by nearly 400% since January.</p><p>The margin calls have led some smaller companies, in particular, to increase borrowing, eating into their cash available for trading and potentially pressuring their profits. </p><p>The November contract at the Dutch TTF hub rose 0.6% to €94.23 ($109.47) per megawatt-hour in  Monday's session. </p>

Surging natural gas prices trigger hundred of millions of dollars in margin calls, report says

<ul class="summary-list"><li>Russian President <keyword id="11899444" type="UNKNOWN" weightage="60" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword> said he was ready to stabilize energy prices by increasing gas shipments to Europe.</li><li><keyword id="12194726" type="UNKNOWN" weightage="60" keywordseo="natural-gas-prices" source="Orion">Natural gas prices</keyword> soared earlier on Wednesday before dramatically tumbling following Putin's statement.</li><li>He also said it was a mistake for Europe to transition to the spot market.</li></ul><p>The price of <a href="https://markets.businessinsider.com/commodities/natural-gas-price">natural gas</a> pulled back sharply on Wednesday after Russian President Vladimir Putin said he was ready to stabilize energy prices by increasing gas shipments to Europe.</p><p>The Russian leader said state-controlled giant Gazprom would send more gas than it's contracted to this year, according to Bloomberg. Exports to Europe may even hit a record high for the year, he added.</p><p>U.K. futures plunged more than 7% after soaring 28% earlier. In the US, <keyword id="6354703" type="UNKNOWN" weightage="60" keywordseo="natural-gas" source="Orion">natural gas</keyword> prices sank 9% to $5.72 per billion BTUs. The retreat comes after prices have more than doubled so far this year amid a global energy crunch. </p><p>On September 21, the <a href="https://www.iea.org/news/statement-on-recent-developments-in-natural-gas-and-electricity-markets">International Energy Agency</a>, the world's energy watchdog, said <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> could "do more to increase gas availability to Europe" ahead of the cold winter, adding this could be the country's chance to boost its credentials as a reliable supplier to the region.</p><p>Putin also said it was a mistake for Europe to transition to the spot market - which has seen record highs lately - instead of phasing out long-term deals in the natural gas trade, <a href="https://www.reuters.com/world/europe/europe-made-mistake-ditching-long-term-gas-deals-putin-2021-10-06/">Reuters</a> reported.</p><p>"The practice of our European partners has confirmed it once more that they made mistakes," he said in a televised government meeting with the country's energy officials. "It was aimed at transition to spot gas trade."</p><p>Gazprom, for its part, has always preferred long-term deals with European counterparts that last around 25 years instead of spot trading, <a href="https://www.reuters.com/world/europe/europe-made-mistake-ditching-long-term-gas-deals-putin-2021-10-06/">Reuters</a> reported.</p>

Natural gas prices sink after blistering rally as Vladimir Putin hints at supply surge

<ul class="summary-list"><li>Natural home remedies that can provide <keyword id="11961168" type="UNKNOWN" weightage="60" keywordseo="migraine" source="Orion">migraine</keyword> relief include B2 supplements, melatonin, and yoga.</li><li>To help prevent future <keyword id="12990673" type="UNKNOWN" weightage="60" keywordseo="migraines" source="Orion">migraines</keyword>, avoid triggers like alcohol, bright lights, and loud noises. </li><li>See a doctor if your migraine is accompanied by conditions like vertigo or cognitive problems.</li></ul><p>A migraine is a neurological disease, and is much more than just a headache, with <a href="https://www.pennmedicine.org/updates/blogs/health-and-wellness/2019/november/migraines-vs-headaches" target="_blank" rel="noopener">symptoms that include</a> nausea, dizziness, fatigue, and increased sensitivity to sound, light, or smells. </p><p>If you think you may be suffering from <a href="https://www.insider.com/migraine-types" target="_blank" rel="noopener">migraines</a>, be sure to see your primary care doctor or a specialist who can appropriately diagnose you and rule out any other causes. </p><p>"The first step is to make sure that your headache has been properly evaluated and your specific headache syndrome is diagnosed," says board-certified neurologist <a href="https://hudsonmedical.com/medical/team/thomas-pitts/" target="_blank" rel="noopener">Thomas Pitts</a>, with Hudson Medical + Wellness in New York City. </p><p>Once you've determined that your pain is migraine-based, you can take steps to find relief. Here are several home remedies to help treat some of the symptoms of migraines.</p><h2>1. Add magnesium </h2><p>Adding a magnesium supplement to your diet, in doses of 400 to 500 milligrams a day, can help prevent migraines according to the <a href="https://americanmigrainefoundation.org/resource-library/magnesium/" target="_blank" rel="noopener">American Migraine Foundation</a>. The supplement may avert the occurrence of aura, a type of sensory disturbance, as well as light and noise sensitivity.</p><p>Keep the dose at 400 milligrams if you are pregnant or plan to become pregnant. Diarrhea and abdominal cramping are the most common side effects of taking magnesium. </p><h2>2. Take vitamin B2</h2><p>A small <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4623793/" target="_blank" rel="noopener">2015 study</a> found that 400 milligrams of vitamin B2 daily reduced the frequency and severity of migraines with minimal side effects compared to <a href="https://medlineplus.gov/druginfo/meds/a682412.html" target="_blank" rel="noopener">sodium valproate</a>.</p><p>More research is needed to fully understand how vitamin B2 prevents migraines and whether it works for the general population, as current studies are limited and small. </p><h2>3. Have caffeine </h2><p>Some studies have found that caffeine may <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5655397/#:~:text=Caffeine%20combination%20products%20are%20useful,of%20caffeine%20may%20be%20beneficial." target="_blank" rel="noopener">help treat migraines</a>. However, a <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6901704/#B14" target="_blank" rel="noopener">2019 review</a> found that chronic caffeine intake seemed to increase the chance of migraines — in particular, the <a href="https://health.clevelandclinic.org/study-reveals-that-caffeine-can-actually-prevent-migraines/" target="_blank" rel="noopener">Cleveland Clinic</a> recommends limiting yourself to 150 to 200 milligrams of caffeine daily. </p><p>Ultimately, more studies are needed to determine whether caffeine may help migraines, so it's important to speak with a physician about whether or not this treatment is right for you.</p><h2>4. Use hot or cold remedies</h2><p>Applying heat or cold can help relieve migraines, according to the <a href="https://www.mayoclinic.org/diseases-conditions/migraine-headache/in-depth/migraines/art-20047242" target="_blank" rel="noopener">Mayo Clinic</a>.</p><p>When applied at the onset of a migraine, a frozen neck wrap significantly reduced pain, according to a small <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3727573/" target="_blank" rel="noopener">2013 study</a>. Placing a <a href="https://www.insider.com/guides/health/best-heating-pad" target="_blank" rel="noopener">heating pad</a> on your head or neck may also help to relax your muscles, which can relieve tension and the migraine itself. </p><h2>5. Practice yoga </h2><p>Adding <a href="https://www.insider.com/yoga-for-beginners" target="_blank" rel="noopener">yoga</a> alongside several other <keyword id="12004884" type="UNKNOWN" weightage="60" keywordseo="natural-remedies" source="Orion">natural remedies</keyword> may work to reduce migraine frequency, duration, and severity, according to a <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4746941/" target="_blank" rel="noopener">2015 study</a>.</p><h2>6. Avoid light</h2><p>Since migraines increase sensitivity to light and sound, the <a href="https://www.mayoclinic.org/diseases-conditions/migraine-headache/in-depth/migraines/art-20047242" target="_blank" rel="noopener">Mayo Clinic</a> recommends relaxing in a dark and quiet room. Try to sleep if you can. </p><h2>7. Exercise regularly  </h2><p>Exercising regularly can help reduce the risk of migraines by reducing anxiety, depression, and obesity, according to the <a href="https://www.mayoclinic.org/diseases-conditions/migraine-headache/in-depth/migraines/art-20047242" target="_blank" rel="noopener">Mayo Clinic</a>. Check with your doctor to see what types of exercises they recommend and how often. </p><h2>8. Get more sleep </h2><p>Sleeping well is essential if you suffer from migraines, since a lack of sleep can trigger an attack.</p><p>Good <a href="https://www.insider.com/how-much-sleep-do-you-need" target="_blank" rel="noopener">sleep quality</a> comes with going to bed at the same time every night, waking up at the same time every morning, and having a quiet and comfortable sleep space. </p><h2>9. Consider peppermint oil</h2><p>A <a href="https://pubmed.ncbi.nlm.nih.gov/20456191/" target="_blank" rel="noopener">2010 study</a> found that the menthol in <a href="https://www.insider.com/benefits-of-peppermint-oil" target="_blank" rel="noopener">peppermint</a> is a safe and effective treatment for migraines without aura. Apply to the forehead and temples at the first sign of a migraine. </p><h2>10. Take melatonin</h2><p>Melatonin is a hormone that helps with your circadian rhythm, making you feel tired at night and more awake during the day.</p><p>A <a href="https://headachejournal.onlinelibrary.wiley.com/doi/full/10.1111/j.1526-4610.2009.01547.x" target="_blank" rel="noopener">2010 study</a> found that migraine patients had abnormally low levels of melatonin. The research suggests that taking a <a href="https://www.insider.com/melatonin" target="_blank" rel="noopener">melatonin</a> supplement — up to <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5432214/#:~:text=Recommend%20nightly%20melatonin%203%20mg,and%20causes%20fewer%20adverse%20effects." target="_blank" rel="noopener">3 mg per day</a> — could help with migraines.</p><h2>Common migraine triggers</h2><p>Keep a migraine journal to determine what your triggers are so you can avoid them. When you get a migraine, jot down the date, time, what you were doing, your symptoms, anything you ate, and how you've been sleeping. </p><p>According to the <a href="https://www.mayoclinic.org/diseases-conditions/migraine-headache/symptoms-causes/syc-20360201" target="_blank" rel="noopener">Mayo Clinic</a>, common migraine triggers include:</p><ul><li><a href="https://www.insider.com/period-migraine" target="_blank" rel="noopener">Menstruation</a></li><li>Pregnancy</li><li>Menopause</li><li>Alcohol</li><li>Too much caffeine</li><li><a href="https://www.insider.com/stress-migraine" target="_blank" rel="noopener">Stress</a></li><li>Bright lights</li><li>Loud noises</li><li>Strong smells</li><li>Lack of sleep</li><li>Jet lag</li><li>Intense physical exertion</li><li>Sexual activity</li><li>Weather changes</li><li>Certain medications such as oral contraceptives, nitroglycerin, and vasodilators</li><li>Skipping meals</li><li>Salty or processed foods</li><li>Aged cheeses</li><li>Food additives like MSG and aspartame</li></ul><h2>When to see a doctor for your migraine</h2><p>Pitts says you need to seek medical help if a migraine: </p><ul><li>Changes in intensity or quality</li><li>Is accompanied by numbness</li><li>Is accompanied by vertigo</li><li>Causes cognitive problems </li><li>Creates problems with arm or leg strength</li><li>Worsens when you lie down or sit up, or is alleviated by changing position</li></ul><p>These symptoms, along with migraines, could indicate something more severe, such as a stroke, which should be ruled out by a neurologist.</p><p>Some over-the-counter medications can help relieve mild to moderate migraines, like aspirin, acetaminophen, naproxen, and ibuprofen, according to <a href="https://americanmigrainefoundation.org/resource-library/over-the-counter-medications-vs-prescription-medications/" target="_blank" rel="noopener">Jessica Ailani</a>, a neurologist and director of the MedStar Georgetown Headache Center at MedStar Georgetown University Hospital in Washington, DC. A process of elimination can help determine which works best for you.</p><p>Home remedies for migraines aren't always enough. Pitts says some excellent migraine medications can help. According to the <a href="https://americanmigrainefoundation.org/resource-library/migraine-medication/" target="_blank" rel="noopener">American Migraine Foundation</a>, migraine-specific prescriptions include <a href="https://americanmigrainefoundation.org/resource-library/oral-triptan-therapy/" target="_blank" rel="noopener">triptans</a>, such as Sumatriptan, Zolmitriptan, and Rizatriptan. When these medications don't work, doctors turn to <a href="https://www.mayoclinic.org/drugs-supplements/headache-medicine-ergot-derivative-containing-oral-route-parenteral-route-rectal-route/description/drg-20070161" target="_blank" rel="noopener">ergot alkaloids</a>, such as Migrinal or Ergomar. </p><p>Other medical treatments include monthly and quarterly injections, nerve blockers, botox, and supplement infusions. See your doctor if natural remedies aren't working for you. Together you should be able to find a medication that works. </p><h2>Insider's takeaway</h2><p>You can often control or prevent migraines with home remedies. </p><p>According to Pitts, the top three natural remedies for migraines are good sleep hygiene, regular exercise, and taking a daily magnesium and vitamin B2 supplement. </p><p>See your primary care provider once a year for a preventative screening to rule out other <keyword id="11894571" type="UNKNOWN" weightage="100" keywordseo="health" source="Orion">health</keyword> problems, says Pitts. </p>

10 home remedies to relieve migraines naturally

<ul><li><strong><keyword id="12194726" type="UNKNOWN" weightage="60" keywordseo="natural-gas-prices" source="Orion">Natural gas prices</keyword> soared as much as 9% on Tuesday as <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s war against <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> drags on.</strong></li><li><strong><keyword id="6354703" type="UNKNOWN" weightage="60" keywordseo="natural-gas" source="Orion">Natural gas</keyword> prices crossed $8.00 per million British thermal units, the highest level since September 2008.</strong></li><li><strong>As prices rise, US-based natural gas companies are exporting more of their product overseas.</strong></li></ul><p><a href="https://markets.businessinsider.com/commodities/natural-gas-price">US natural gas prices</a> soared as much as 9% on Tuesday as <a href="https://www.businessinsider.com/ex-kremlin-insider-says-russians-will-soon-see-through-putin-ukraine-propaganda-2022-4">Russia's war against Ukraine</a> continues to drag on and disrupt various commodity supply chains.</p><p>Prices crossed above $8.00 per million British thermal units and hit a high of $8.17, representing the highest level since September 2008. Henry Hub prices settle 6.4% higher at $7.954.</p><p>The surge comes as US-based <keyword id="11917806" type="UNKNOWN" weightage="60" keywordseo="energy" source="Orion">energy</keyword> companies see a spike in demand for their product overseas. About 30% of planned US liquefied natural gas export capacity has been secured since Russia's attack against Ukraine, according to <a href="https://www.bloombergquint.com/onweb/u-s-lng-deals-surge-as-europe-turns-away-from-russian-energy">a Bloomberg report.</a></p><p>That heightened activity has helped renew financing for the beleaguered sector that saw a sharp, years-long downturn amid the bust of the 2015 shale boom. </p><p>Energy Transfer said it made an 18-year supply deal with South Korea's SK Gas <keyword id="6368158" type="UNKNOWN" weightage="60" keywordseo="trading" source="Orion">Trading</keyword> on Tuesday, just one day after it announced a 20-year contract with Gunvor Group. Additionally, the French utility company Engie SA secured 2 million tons of liquefied natural gas from NextDecade's proposed gas plant. </p><p>Rising demand for US energy comes as <a href="https://www.businessinsider.com/poland-bulgaria-say-dont-need-russian-gas-after-supply-halt-2022-4">few countries want to buy gas from Russia,</a> which remains one of the world's largest producers of the commodity. And a combination of low winter gas inventories and a potentially hot summer that increases energy demand for air conditioning could continue to put upside pressure on natural gas prices. </p>

Natural gas prices soar 9% to their highest level since 2008 as Russia's war on Ukraine shifts more US supplies overseas

<p><keyword id="6354703" type="COMPANY" weightage="60" keywordseo="Natural-gas">Natural gas</keyword> prices were off as much as 2.8% <a href="http://ir.eia.gov/ngs/ngs.html">a bearish Department of Energy report</a>.</p>
<p>Here's the chart — they've since come back up slightly:</p>
<p><div class="image-container" style="width:800px"><div class="image"><p class="source"><a href="http://www.investing.com/commodities/natural-gas">Investing.com</a></p></div></div></p>
<p>The DOE logged +59 bcf in injections against Bloomberg consensus of 56 bcf and Citi consensus 53 bcf.</p>

Natural Gas Prices Are Tanking

<p><div class="image-container float_right" style="width:400px"><div class="image"></div><p class="source">Reuters</p></div><keyword id="6354703" type="COMPANY" weightage="60" keywordseo="Natural-gas">Natural gas</keyword> prices are up more than 3 percent this morning after the Energy Information Association (EIA) reported a drop in supplies.</p>
<p>For the week ended March 1, U.S. reserves fell -146 billion cubic feet.</p>
<p>According to Citi's Timothy Evans, the drop in supply was much higher than every forecast:</p>
<p style="padding-left: 30px;">Citi Futures 120 bcf<br /><span style="font-size: 15px; line-height: 1.5em;">Dow Jones Survey 131 bcf<br /> Reuters Survey 134 bcf<br /> Bloomberg Survey 134 bcf<br /> Five-Year Average 102 bcf<br /></span></p>
<p>Here's the chart:</p>
<p><table class="image-container" width="200"><tr><td><div class="image"></div><p class="source"><a href="http://www.investing.com/commodities/natural-gas">Investing.com</a></p></td></tr></table></p>
<p>Evans calls it a "bullish shock" to the market. Here's his take:</p>
<p style="padding-left: 30px;">The 146 bcf net withdrawal was significantly more than expected, a bullish shock to the market.  There were no reports of reclassifications and so this looks like a straight-up tightening of the background supply/demand balance for the period, with supportive implications that offset today's milder temperature outlook.  The case for a rally to $3.70-3.80 is improved.</p>
<p>Prices are not expected to come down for a while.</p>

A 'Bullish Shock' To Natural Gas Supplies Just Sent Prices Exploding Higher

<p><span style="font-size: 15px; line-height: 1.5em;"><table class="image-container float_right" width="200"><tr><td><div class="image"></div><p class="source"><a href="http://en.wikipedia.org/wiki/File:MarcellusShaleBank1.jpg">Wikimedia Commons</a></p></td></tr></table>A biennial survey of U.S. gas reserves has just printed its highest-ever estimate, reports the </span><a href="http://www.ft.com/intl/cms/s/0/e91ca04e-a11c-11e2-bae1-00144feabdc0.html?ftcamp=published_links%2Frss%2Fcompanies_oil-gas%2Ffeed%2F%2Fproduct#axzz2PzApfQqg">Financial Times</a><span style="font-size: 15px; line-height: 1.5em;">.</span></p>
<p>The Potential Gas Committee <a href="http://potentialgas.org/press-release">says</a> there is now 2,384 trillion cubic feet of recoverable <keyword id="6354703" type="COMPANY" weightage="60" keywordseo="Natural-gas">natural gas</keyword> in America, up 486 tcf from the previous all-time high in 2010.</p>
<p>Most of the new reserves came from recalculations in the Atlantic, Rocky Mountain and Gulf Coast areas.</p>
<p>Here's why it went up, according to PGC Director John Curtis, <a href="http://potentialgas.org/press-release">via PGC's release:</a></p>
<p style="padding-left: 30px;">Our knowledge of the geological endowment of technically recoverable gas continues to improve with each assessment," PGC director John Curtis said. "Furthermore, new and advanced exploration, well drilling, completion and stimulation technologies are allowing us increasingly better delineation of and access to domestic gas resources—especially ‘unconventional’ gas—which, not all that long ago, were considered impractical or uneconomical to pursue.</p>
<p style="padding-left: 30px;">Consequently, our present assessment, strengthened by robust domestic production levels, demonstrates an exceptionally strong and optimistic gas supply picture for the nation.”</p>
<p>Thanks to revisions for the Marcellus Shale, PGC now ranks the Atlantic area as the country’s richest resource area, with 33 percent of total gas resources. The Gulf Coast and Rocky Mountain areas combine for much of the rest.</p>

A New Estimate Of US Natural Gas Reserves Is The Highest In History

<p>There are sure are a lot of people who think <keyword id="6354703" type="COMPANY" weightage="60" keywordseo="Natural-gas">natural gas</keyword> prices are going to continue to go up.</p>
<p>According to Commodity Futures Trading Commission (CFTC) data from Citi's Timothy Evans, the number of net long positions for nat gas contracts now stands at 530,786. </p>
<p>That's a record high.</p>
<p>Here's the chart:</p>
<p><div class="image-container" style="width:620px"><div class="image"></div><p class="source">Citi</p></div></p>
<p>Natural gas prices were trading up +0.6% Friday to hit $4.05. That comes after prices fell about 7 percent earlier in the week.  </p>
<p>Evans writes that the <span style="font-size: 15px; line-height: 1.5em;">market is "heavily overbought and vulnerable to bearish news." </span></p>

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