Money managers in the WTI crude futures and options markets maintained their net long positions in the week ended July 14, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released on Friday.
The data showed that money managers reported 182,883 long positions, down 3,606 from July 7, while short positions were down 15,310 to 96,500.
Producers, merchants, processors, and users held 741,011 long positions and 329,495 short positions.
Vitol could reach an agreement as soon as next week to sell VTX Energy to private equity firms Carnelian Energy Capital and EnCap Investments, Bloomberg reported Thursday, citing people familiar with the matter.The proposed transaction would value the shale business at about $2.3 billion and reduce Vitol's exposure to US upstream oil and gas production, the people said.Founded by Vitol in 2022 to build a portfolio of producing assets, VTX now produces nearly 46,000 barrels of oil equivalent per day in Texas' Delaware Basin, the report said.Vitol, Carnelian Energy Capital, and EnCap Investments did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
US natural gas futures pared losses in after-hours trading on Thursday after falling to their lowest level in two months after government data showed a larger-than-expected weekly storage injection, reinforcing expectations that near-term supplies will remain comfortable.The front-month Henry Hub contract and the continuous contract both fell 1.09% to $2.892 per million British thermal units.In earlier trade, the August 2026 contract settled 7 cents lower at $2.86/MMBtu, extending its decline over the past month to 40 cents, according to Pinebrook Energy Advisors. Summer 2026 contracts posted a similar decline, while Winter 2026-27 fell 4 cents to settle at $3.53/MMBtu."The entire curve finished in negative territory as the market continued to discount near-term weather risk and ample supply," analysts said.The already bearish sentiment was reinforced after the US Energy Information Administration reported Thursday that working natural gas in storage increased by 41 billion cubic feet in the week ended July 10, above market expectations of about 39 Bcf.The larger-than-expected storage build pushed front-month prices to an intraday low of $2.823/MMBtu before they pared losses as updated weather forecasts called for hotter conditions across key demand regions, supporting expectations for stronger power demand for air conditioning, Pinebrook Energy Advisors said.Barchart, citing the Commodity Weather Group, also said forecasts had trended hotter, with above-normal temperatures expected across the Upper Midwest through July 20.However, supplies remain robust. Barchart, citing BNEF data, said Lower 48 dry gas production increased by 0.8 Bcf per day to a very strong 112 Bcf/d on Thursday, up 3.6% from a year earlier.Regarding demand, Barchart said total lower 48 gas demand was estimated at 82.8 Bcf/d, down 0.3 Bcf/d from the previous day but up 3.1% from a year earlier.Celsius Energy estimated July 15 power burn at 49.4 Bcf/d, up 1.9 Bcf/d day over day and 1.7 Bcf/d above the same day last year due to hot weather in the population centers of the Northeast.On the export side, estimated net LNG feedgas deliveries to US export terminals totaled 17.2 Bcf/d, down 0.6 Bcf/d from the previous day and 8.9% below the prior week, reflecting weaker demand amid maintenance at LNG terminals along the US Gulf Coast.Aegis Hedging said completion of Transco emergency shutdown work at Sabine Pass should support higher day-over-day feedgas volumes.Aegis analysts noted that Kinder Morgan (KMI) had received authorization to begin flowing natural gas to the upgraded liquefaction train, bringing the fifth of the terminal's 10 liquefaction trains closer to returning to service.
Questerre Energy said Thursday that Quebec's newly released Integrated Energy Resource Management Plan for 2026-2050 underscores the long-term role of natural gas in the province's energy mix, which the company said supports its Utica shale gas discovery.The company said the provincial plan, published earlier this month, outlines Quebec's future energy supply strategy and says natural gas will continue to play a strategic role as the province gradually decarbonizes its energy system.According to the plan, existing natural gas infrastructure can support the transition by enabling gradual decarbonization.Questerre President and Chief Executive Officer Michael Binnion said the government's recognition that natural gas will remain part of Quebec's energy system for decades reinforces the importance of reliable gas supplies during the energy transition."This is positive for our Utica natural gas discovery and confirms the continuing importance of reliable gas supply during the energy transition," Binnion said.While the provincial plan does not specifically reference the company's Utica discovery, Binnion said public opinion polls indicate Quebecers prefer locally produced natural gas over imports from the US.He added that locally produced gas from the Utica formation would have a lower greenhouse gas emissions footprint than imported US supplies.