Heat Reignites September Natural Gas; Spot Gas Slips on Cooler Weather

  • Nymex September gas futures climb 3.8 cents as forecasts show heat returning for the end of August/early September
  • End-of-season storage inventories look less likely to reach 3.4 Tcf, but futures prices indicate market is confident in growing production to reduce deficit
  • Hurricane Lane strengthening in the Pacific, but nearest gas infrastructure well out of storm’s projected path
  • Spot gas prices slip as cooler weather was set to arrive during the weekend, limiting the impact of several pipeline maintenance events scheduled to start Monday
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September Natural Gas Slides as Weather, Storage Deliver One-Two Punch; Spot Gas Slips

  • Nymex September gas futures contract softens after larger-than-expected storage injection
  • Energy Information Administration reported a 33 Bcf build into inventories for the week ending Aug. 10; estimates clustered around a build in the high 20 to low 30 Bcf range
  • Cooler weather in the next week or so further dampened an already weak market
  • Record production, waning demand expected to lead to much higher storage injections in the weeks ahead
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Nymex September Gas Contract Eases as Traders Eye Cooler Weather Outlooks; Northeast Spot Gas Surges

  • September natural gas softens as cooler weather wins battle against low natural gas storage inventories
  • Cooler weather risks into the end of August remain, while the loss of cooling degree days could increase in the days ahead
  • Upward price momentum likely to fade in weeks ahead as cooler weather arrives, setting the stage for heftier storage injections ahead of winter
  • BREAKING: EIA reports a 33 Bcf storage injection for the week ending Aug. 10
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Despite Cooler Forecast, Natural Gas Futures Gain on Storage Outlook

  • September adds 2.9 cents to $2.959, October up 3.0 cents to $2.966
  • GFS model “notably cooler for the middle of next week,” drops “numerous” CDDs from outlook, says NatGasWeather
  • Storage “increasingly likely” to enter heating season “with a historically low carryout for the shale era”: Energy Aspects
  • Transwestern force majeure reducing flows through Arizona, says Genscape
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After Week of Gains, Natural Gas Futures Slide

  • September down 1.1 cents to $2.944; October down 1.0 cents to $2.949
  • Weather patterns “neutral, although approaching slightly bearish compared to what the data showed a few days ago”: NatGasWeather
  • Next EIA report set to grow year-on-five-year deficit, says Genscape
  • SoCal Citygate down $5.39 d/d as lower demand expected over weekend
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Nymex September Natural Gas Soars Again as Storage Takes Front Seat Ahead of EIA Report

  • September natural gas prices breeze past second technical hurdle as storage concerns remain front and center for traders
  • Weather guidance continues to trend slightly cooler, with the latest models pointing to cooler temperatures next week and Aug. 19-22
  • “ alone will not reverse the rally.” - Bespoke Weather Services Chief Meteorologist Jacob Meisel
  • BREAKING: EIA reports a 46 Bcf storage injection for the week ending Aug. 3
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