Highlights The US Climate Prediction Center gives ~ 70% odds another La Niña will form in the August – October interval and will continue through winter 2021-22. This will be a second-year La Niña if it forms, and…
After a pause in the first half of August, natural gas prices are once again climbing higher. The Henry Hub front month contract closed a hair below $5/MMBtu on Wednesday - more than double its price from a year ago. Despite this…
Highlights US crude oil output will continue its sharp recovery before leveling off by mid-2022, in our latest forecast (Chart of the Week). The recovery in US production is led by higher Permian shale-oil production, which is quietly…
Highlights Going into the new crop year, we expect the course of the broad trade-weighted USD to dictate the path taken by grain and bean prices (Chart of the Week). Higher corn stocks in the coming crop year, flat wheat stocks and…
On June 29th 2020, we recommended that investors will be best served by accumulating natural gas futures. Since then, the Henry Hub front month contract has risen from $1.6/MMBTU to $3.8/MMBTU, a return of over 130%. The leap…
Highlights Political and corporate climate activism will increase the cost of developing the resources required to produce and deliver energy going forward – e.g., oil and gas wells; pipelines; copper mines, and refineries. Over…
Highlights Over the 2021-22 period, renewable capacity will account for 90% of global electricity-generation additions, per the IEA's latest forecast. This will follow the 45% surge (y/y) in renewable generation capacity added last…
BCA Research’s Commodity & Energy Strategy service expects US natural gas prices to remain well supported this year. US LNG cargoes out of the US Gulf balanced demand coming from Asia and Europe this past winter,…
Highlights US natural gas prices will remain well supported over the April-October injection season, as the global economic expansion gains traction, particularly in Europe, which also is refilling depleted storage levels. China's…