Jeremiah Shelor

Natural gas futures were down early Wednesday as traders and analysts mulled the market implications of the official start-up of Gulf Coast Express (GCX), a major pipeline set to unleash additional Permian Basin supply. The October Nymex contract was down 1.7 cents to $2.486/MMBtu at around 8:40 a.m. ET; November was off 2.1 cents to $2.504.

Natural gas futures couldn’t hold onto early gains Tuesday as traders weighed near-term hot temperatures against the prospect of weaker heating demand heading into next month. After trading as high as $2.590/MMBtu in the early-morning hours, the October contract steadily declined over the course of the day, eventually settling at $2.503, off 2.4 cents. November slid 3.0 cents to settle at $2.525.

Natural gas futures traders seemed to be keeping their powder dry Wednesday as they looked ahead to both a new round of government inventory data and the front-month expiration. After trading as high as $2.519/MMBtu and as low as $2.455, the October contract, set to expire Thursday, eventually settled close to even at $2.502, off a tenth of a penny. November settled 0.7 cents lower at $2.518.

Forecasts showing more summer-like temperatures lingering across parts of the Lower 48 over the next week or so helped lift natural gas futures in early trading Tuesday. The October Nymex contract was up 2.0 cents to $2.547/MMBtu at around 8:40 a.m. ET.

The natural gas futures market marked the official start of fall with a quiet trading session Monday; a key support level held as traders mulled the prospect of large injections in the weeks ahead. The October Nymex contract settled at $2.527/MMBtu, down 0.7 cents after probing as low as $2.493 in the early-morning hours, while November finished unchanged at $2.555.

Natural gas futures couldn’t hold onto early gains Tuesday as traders weighed near-term hot temperatures against the prospect of weaker heating demand heading into next month. After trading as high as $2.590/MMBtu in the early-morning hours, the October contract steadily declined over the course of the day, eventually settling at $2.503, off 2.4 cents. November slid 3.0 cents to settle at $2.525.

Despite higher weather-driven demand in the latest forecasts, natural gas futures were trading lower early Monday as above-normal temperatures are expected to start having a bearish impact deeper into the shoulder season. The October Nymex contract was down 2.4 cents to $2.510/MMBtu shortly after 8:40 a.m. ET.

With supportive late-season heat expected to start eating into heating demand soon, and with the market continuing to look oversupplied, natural gas futures eased lower Friday. The October Nymex contract slid 0.4 cents to $2.534/MMBtu, while November dropped 1.4 cents to $2.555.

The natural gas futures market marked the official start of fall with a quiet trading session Monday; a key support level held as traders mulled the prospect of large injections in the weeks ahead. The October Nymex contract settled at $2.527/MMBtu, down 0.7 cents after probing as low as $2.493 in the early-morning hours, while November finished unchanged at $2.555.