Leticia Gonzales

Given so many moving targets in the natural gas market these days, it doesn’t take much to move the price needle. After the latest storage stat came in below some estimates, the June Nymex gas futures contract jumped 8.0 cents to settle Thursday at $1.949. July futures climbed 7.9 cents to $2.170.

Even as DTE Energy is implementing cost-cutting measures to help navigate the economic downturn brought on by the coronavirus, the natural gas storage and pipelines (GSP) assets in the Lower 48 are creating a path for long-term success.

May natural gas futures charged the pavement early Tuesday, making an early run above $1.900 but ultimately sputtering out ahead of the close. The May Nymex contract went on to expire at $1.794, down 2.5 cents day/day, while June rose 3.2 cents to $1.948.

Construction has been halted on a section of the Kinder Morgan Inc. (KMI) Permian Highway natural gas pipeline after an underground spill of drilling fluid occurred in late March in Blanco County, TX.

Enterprise Products Partners LP (EPD) has yet to see a “material change” to volumes across its system, but given the “highly uncertain” impacts of the coronavirus for the remainder of 2020, it has reduced planned growth capital investments by $1 billion and sustaining capital expenditures (capex) by $100 million.

An initial bump in natural gas futures prices failed to gain momentum Wednesday, with demand destruction weighing more heavily on the front of the curve than any declines in production. The June Nymex gas futures contract, on the first day in the prompt-month position, fell 7.9 cents to $1.869. July also dropped 7.9 cents to hit $2.091.

Natural gas futures got hammered early, but came roaring back Monday in another “chaotic” session. The May Nymex contract, which expires Tuesday, plunged to an intraday $1.593 low and then bounced back, settling the day at $1.819, up 7.3 cents from Friday’s close. June picked up 2.1 cents to close at $1.916.

May natural gas futures charged the pavement early Tuesday, making an early run above $1.900 but ultimately sputtering out ahead of the close. The May Nymex contract went on to expire at $1.794, down 2.5 cents day/day, while June rose 3.2 cents to $1.948.

After a quiet start, increased selling late in Friday’s trading session led to another day of pronounced swings in the natural gas futures market. The May Nymex contract capped the week at $1.746, down 6.9 cents from Thursday’s close. June dropped 4.7 cents to $1.895.