November natural gas is set to open 2 cents lower Tuesday morning at $2.97 as traders view forecasts of pending cold as insufficient enough to materially alter supply demand balances. Overnight oil markets rose.
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Articles from Bill Burson
Physical natural gas prices for Wednesday delivery continued on average to be buffeted by the volatile Southern California market points as some additional supplies made their way to the SoCal system. SoCal Citygate dropped nearly $5, and the NGI National Average fell 7 cents to $2.74.
Both physical natural gas markets and futures posted robust gains in trading Monday. Next day delivery was seen at least a dime to 20 cents higher at most points, but the real story was the weather- and outage-inspired $9 jump at the SoCal Citygate that lifted quotes there to more than $12.
November natural gas is expected to open 8 cents higher Monday morning at $3.00 as forecasters see a building Alaskan ridge and cooling temperatures in the Midwest and Midcontinent. Overnight oil markets were mixed.
November natural gas is set to open 3 cents higher Friday morning at $2.90 as weather forecasts also call for cooling in the Midwest, although the East continues warm. Overnight oil markets were mixed.
Although on balance weekly natural gas prices were unchanged for the week of Oct. 20, try telling that to traders working the SoCal Citygate or constricted Appalachian basins.
Natural gas buyers Friday were in no mood to commit to three-day deals given a well supplied market and expected moderate weekend weather conditions.
November natural gas is set to open a penny lower Thursday morning at $2.86 as traders note little change in the ongoing shortfall of heating load, and expect a below average storage build in a morning government report. Overnight oil markets fell.
November natural gas futures surprisingly fell Thursday following a report by the Energy Information Administration (EIA) showing a storage injection that was less than what traders had been expecting.
November natural gas is set to open 5 cents lower Wednesday morning at $2.91 as weather models continue to call for ongoing warmth in key energy markets. Overnight oil markets rose.