Natural Gas Futures Rally as Barry Impacting Production, Demand

  • August Nymex futures rally 3.7 cents to $2.453; September up 3.3 cents to $2.434
  • “Once the remains of the storm are gone, we reach peak heat,” says Bespoke
  • “The evolving energy landscape is changing the potential impacts of a hurricane,” says TPH
  • “At least so far, loss of production is outweighing reductions in feed gas intake due to disruptions in vessel traffic”: EBW’s Weissman
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Market Eyes Storm Over GOM as NatGas Cash, Futures Gain

  • August Nymex futures up 1.9 cents to $2.444; September up 1.7 cents to $2.433
  • Disagreement between major weather models adding “uncertainty as to exactly how strongly bullish weather sentiment should be,” says NatGasWeather
  • Heat pushing U.S. exports to Mexico to highest levels since mid-June: Genscape
  • BREAKING: EIA reports a 81 Bcf storage injection for the week ending July 5
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Slightly Bearish EIA Build No Sweat for Natural Gas Futures Traders Eyeing Summer Heat

  • August Nymex futures gain 5.0 cents to $2.290; September up 4.6 cents to $2.263
  • “What will be most important going forward is if cooler air over southern Canada will be able to advance far enough into the northern U.S. July 15-20”: NatGasWeather
  • EIA-reported 89 Bcf injection implied the market was 0.9 Bcf/d looser than last year on a weather-adjusted basis: Raymond James
  • Potentially impacting U.S. LNG, European prices “have plummeted thanks to a rising gas export war between Russia and the U.S.
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