Mercados

Permian Cash Gains; Big Bearish Miss for EIA Sees Natural Gas Futures Slide

  • July futures drop 7.7 cents to $2.547; August off 7.5 cents to $2.557
  • EIA print significantly overshoots estimates at 114 Bcf; “I think it’s the timing of the heat that threw off the number,” says Enelyst’s Shah
  • Mexico president says he does not want trade “confrontation” with U.S., sends minister to Washington, DC
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June Natural Gas Rallies into Expiry as Production Falls

  • Nymex June contract expires at $2.633, up 5.1 cents day/day; July adds 4.0 cents to $2.624
  • “For the next few days, I think we just remain in this range from around $2.50 to $2.70,” says Powerhouse’s Levin
  • BREAKING: EIA reports 114 Bcf injection for week ended May 24, versus estimates ~98-101 Bcf
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Natural Gas Futures Down as Production Rises; Waha Still Under Pressure

  • June Nymex futures down 1.6 cents to $2.582; July drops 2.7 cents to $2.584
  • “Coverage and intensity of heat isn’t enough to impress as hefty builds into supplies are expected to continue through the first half of June,” says NatGasWeather
  • U.S. Lower 48 production hit 56-day high at 88.57 Bcf/d over weekend: Genscape
  • West Texas prices continue to trade in negatives amid NGPL maintenance
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