Natural gas futures resumed their climb on Monday, buoyed by a recovery in Gulf Coast LNG feed gas demand above 12 Bcf/d and Lower 48 gas production staying subdued. A jump in Henry Hub cash prices also added support. At A Glance: NGI estimates 86 Bcf injection Freeport restarts LNG exports Production at 98.2 Bcf/d …
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Exceptionally Stout Mountain Region Natural Gas Storage Curtails Rockies Prices
Strong natural gas production in the Rockies and anemic heating demand over long stretches of the 2023-2024 winter resulted in an abundance of supply in the Mountain region and, by extension, suppressed prices. NGI’s Rocky Mtns. Regional Avg. cash prices averaged $1.235/MMBtu to finish trading last week, down from around $3.00 as the winter season…
Global Natural Gas Prices Stable as Fears Ease Over Middle East Conflict – LNG Recap
Asian and European natural gas prices declined Monday as geopolitical tensions in the Middle East eased and the supply outlook strengthened. Prices were stable last week when the market shrugged off the impacts of attacks carried out by Israel and Iran. With no apparent threat to production in the Eastern Mediterranean or shipping in the…
Natural Gas Futures Advancing as LNG Demand Picks Up — MidDay Market Snapshot
Rebounding export demand, including at the Freeport LNG terminal, helped natural gas futures carve out modest gains at the front of the curve through midday trading Monday. Here’s the latest: May Nymex futures up 2.3 cents to $1.775/MMBtu as of 2:15 p.m. ET; June up 5.9 cents to $2.047 “As we approach contract rollover later…
May Natural Gas Called Slightly Higher as Traders Eye Production, Cool Temps
Natural gas futures nudged higher early Monday as near-term heating demand and soft springtime production offered support for prices. The May Nymex contract was up 2.1 cents to $1.773/MMBtu at around 8:45 a.m. ET. June was up 2.5 cents to $2.013. Updated estimates Monday showed domestic production remaining steady at sub-100 Bcf/d levels. Bloomberg data…
West Texas Clawing Back as Volatile Week Ends with Natural Gas Prices Still Lower; Futures Slip
Struggles defined the weekly natural gas cash market as prices bounced between gains and losses amid seasonal factors including fickle weather and maintenance activity. NGI’s Weekly Spot Gas National Avg. for the April 15-19 period ultimately lost 7.5 cents to $1.135/MMBtu. Meanwhile, the May Nymex futures contract jumped early in the week after reports of…
May Natural Gas Futures Range-Bound Despite Bouts of Cold, Lighter Production; Spot Prices Slip
Natural gas futures struggled to find direction on Friday, trading in a narrow range of gains and losses throughout the session. Favorable near-term weather forecasts and continued light production estimates were countered by export weakness and only modest improvement in supply/demand balances evidenced in the latest government inventory data. At A Glance: Output near 98…
Price Headwinds Evident in Natural Gas Forwards as Weak Demand Trumps Falling Production
Lofty levels of natural gas in storage and a severe Permian Basin supply glut continued to cloud the outlook for prices. Natural gas forward prices fell in every region during the April 11-17 trading period, NGI’s Forward Look data show. Levels remained well below the $2.00/MMBtu level across the Lower 48, with exceptionally weak West…
Mexico Natural Gas Demand Outlook Useful for Market, but Could Be Misleading — Column
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. The recent publication of Mexico’s “Prospectivas” report by the energy ministry Sener is a significant event for stakeholders in the natural gas…
Natural Gas Futures Treading Water to Close Out Week; Cash Mixed — MidDay Market Snapshot
Natural gas futures were essentially flat through midday trading Friday, with prices seemingly lacking direction amid the competing fundamental trends of sagging export demand and fading production. Here’s the latest: May Nymex futures off fractionally at $1.756/MMBtu at around 2:30 p.m. ET U.S. drops three natural gas rigs in latest Baker Hughes Co. count The…