Mild January Forecast Brings Bears Out of Hibernation as Natural Gas Futures, Spot Prices Under Pressure

Forecasts showing overall mild conditions through mid-January continued to pressure natural gas futures lower Thursday as traders looked ahead to another potentially bearish government storage report. In the spot market, expectations for Lower 48 weather-driven demand to ease into next week accompanied declines across most regions; the NGI Spot Gas National Avg. slid 11.5 cents to $2.690/MMBtu.

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NatGas Markets Ring in New Year With Return to Sub-$3 as January Forecasts Seen Bearish

A new year brought a new outlook for natural gas markets Wednesday, with a mild forecast for the first half of January bringing a return to sub-$3 prices as the storage concerns that drove up risk premiums earlier in the heating season appear largely assuaged. Influenced by sagging futures, spot markets struggled through a post-New Year’s hangover, though a few locations in the West gained ahead of cold temperatures and precipitation expected this weekend; the NGI Spot Gas National Avg. tumbled 26.5 cents to $2.915/MMBtu. Read More