Mercados

Futures Rally to Cap Off Wild Week for Natural Gas; Cash Down Ahead of Weekend

  • January Nymex up 23.3 cents to $3.816; February up 22.4 cents to $3.750
  • “Most of the data sees mild conditions returning across the eastern half of the country Jan. 4-7, but that’s not guaranteed,” says NatGasWeather
  • EIA-reported 141 Bcf withdrawal implies market 3.4 Bcf/d looser year/year weather-adjusted: Raymond James
  • More NGPL maintenance could impact Permian flows: Genscape
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Whipsaw Trading Action Ends with Natural Gas Futures Lower as Market Mulls Storage, Weather

  • January Nymex settles 14.3 cents lower at $3.583; February settles at $3.526, down 12.7 cents
  • “The gas market continues to overreact in both directions to varied weather model guidance,” says Bespoke
  • Crude futures continue to slide amid broader economic concerns
  • El Paso’s Permian North expansion adding 182 MMcf/d of incremental capacity since Dec. 5: Genscape
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Natural Gas Futures Fall Through Chimney as Volatility Continues; Spot Gas Eases

  • Intraday volatility still high even as January natural gas tumbles again
  • 2019 production growth could slow as economic concerns and low oil prices lead to slower drilling activity
  • Spot gas prices slide again as demand remains soft ahead of two-week holiday break
  • BREAKING: EIA reports a 141 Bcf storage withdrawal for the week ending Dec. 14
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Natural Gas Winter Price Surge Leaves Bulls Joyful; Spot Gas Mixed

  • Technical rebound sends Nymex winter months surging despite mostly mild weather forecast for remainder of year
  • Weather forecasters expect next intimidating cold shots to come around new year
  • Storage deficit likely to improve over coming weeks, but structural demand growth from liquefied natural gas exports, petrochemical industry could lead to fundamental tightening
  • Spot gas prices mostly bounce, but steep declines in Northeast, Rockies abound
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Mild Set-up Through New Year Pressures Natural Gas Futures, Spot Prices

  • January natural gas prices plunge again; prompt month sheds 60 cents in two-day slide on mild rest of December
  • Weather models show significant cold not returning to the United States until after the new year
  • Storage deficit expected to tighten substantially during the next six weeks, alleviating concerns about supplies during peak winter month
  • Spot gas prices tumble further into $3 territory as mild temperatures expected across most of country
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Natural Gas Futures Tumble as Warmth Set to Linger Through Year-End; Spot Gas Slides

  • Natural gas futures slashed as weather models converge in showing milder weather for remainder of December
  • Truly cold air could return by early January, but supply concerns should alleviate with span of mild weather
  • Production remains off recent highs as pipelines undergo maintenance ahead of peak winter months
  • Spot gas prices drop 30-40 cents at most market hubs as comfortable temperatures blanket much of country
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January Natural Gas Marginally Higher After 'Aimless' Trading Session; Spot Gas Bounces

  • Natural gas prices swing wildly but end volatile session barely changed
  • Long-range weather models remain unclear, but forecasters agree that January coud get progressively colder
  • EIA reports smaller-than-expected 77 Bcf withdrawal from storage, but deficits to historical levels widen and could linger well into 2019
  • Big gains in production needed to close the storage gap, put supplies back at comfortable levels
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Natural Gas Prices “Sleighed” Amid Warming December Outlook; Spot Gas Slips Further

  • Winter natural gas prices plunge as outlooks show only one brief cold snap on tap for remainder of month
  • Technical price indicators reflect “stern support level” that could portend bounce ahead
  • Spot gas prices a sea of red outside of West Texas
  • BREAKING: EIA reports a 77 Bcf storage withdrawal for the week ending Dec. 7
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