Articles by Jeremiah Shelor

Natural Gas Futures Climb Ahead of EIA Storage Data as Cooling Demand Still Supportive

Natural gas futures nosed higher Wednesday, keeping the gains from the previous day’s big rally as forecasts maintained hotter temperatures through early June. Spot prices continued to strengthen across the Midwest and Texas, with major cities in those regions expected to see highs in the 80s and 90s into the weekend; the NGI National Spot Gas Average added 9 cents to $2.53/MMBtu. Read More

Natural Gas Futures Rally Sharply on Hotter Medium-Term Weather Trends

  • June settles at $2.908, up 9.8 cents d/d
  • Overnight forecasts trended hotter, were “likely to ignite the natural gas market,” says Bespoke
  • “Can’t really get too bearish until there’s some confidence” in refilling storage to “healthy amount” by November, says INTL FCStone’s Saal
  • U.S. natural gas market no longer self-correcting with supply surges from associated gas: Bernstein
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Spurred by Hotter Weather, Natural Gas Futures Rally Sharply

In contrast to recent range-bound action, natural gas futures added close to a dime Tuesday as forecasters noted hotter medium-range weather trends that could keep current storage deficits from shrinking as quickly as previously thought. In the spot market, prices strengthened across the Midwest and Texas with hot weather on the way, while points in the West pulled back; the NGI National Spot Gas Average added 4 cents to $2.44/MMBtu.

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