Leticia Gonzales

Hefty natural gas supplies were on full display Thursday after the Energy Information Administration (EIA) reported another massive storage injection that sent futures prices tumbling to a fresh low.

Weather models continued to show cooler trends for the latter part of June, but after plunging more than 20 cents over the past three trading sessions, a technical bounce kept natural gas futures prices in the black on Tuesday. Spot gas prices continued to decline in several areas as stormy conditions were expected to move across the country through Wednesday. However, eastern markets strengthened a bit due to a loss of supply in the region. The NGI National Spot Gas National Avg. rose 6.5 cents to $1.935.

Not even stronger power burns were enough to stop the renewed downside momentum on Wednesday in natural gas futures prices, which slipped a few cents at the front of the Nymex curve as weather models chopped even more demand from outlooks. Spot gas prices were mostly higher given pockets of localized heat. The NGI Spot Gas National Avg. climbed 12 cents to $2.055.

The slaying that natural gas prices received last week worsened Monday as the front end of the futures strip shed another a nickel or so, extending the July Nymex contract’s losing streak to three days and a total of around 22 cents. Spot gas prices also remained mostly weak despite heat and humidity blanketing much of the southern United States. With comfortable temperatures in the northern part of the country and stormy conditions out West, the NGI Spot Gas National Avg. climbed just one cent to $1.87/MMBtu.

Weather models continued to show cooler trends for the latter part of June, but after plunging more than 20 cents over the past three trading sessions, a technical bounce kept natural gas futures prices in the black on Tuesday. Spot gas prices continued to decline in several areas as stormy conditions were expected to move across the country through Wednesday. However, eastern markets strengthened a bit due to a loss of supply in the region. TheNGINational Spot GasNational Avg.rose 6.5 cents to $1.935.

The slaying that natural gas prices received last week worsened Monday as the front end of the futures strip shed another a nickel or so, extending the July Nymex contract’s losing streak to three days and a total of around 22 cents. Spot gas prices also remained mostly weak despite heat and humidity blanketing much of the southern United States. With comfortable temperatures in the northern part of the country and stormy conditions out West, the NGI Spot GasNational Avg.climbed just one cent to $1.87/MMBtu.

Although a record amount of new liquefied natural gas (LNG) capacity coming online is expected to keep global gas prices in a lull through 2020, there is an abundance of appetite to warrant the sanctions of some of the 19 million metric tons of LNG awaiting final investment decision (FID), according to Wood Mackenzie.

An early-season heat wave and fluctuating production helped lift forward prices at the majority of pricing hubs across the country during the May 23-29 period, with gains up to 10 cents most common. However, increasing supply in the Permian Basin combined with pipeline maintenance to drive regional prices back into negative territory after plunging as much as 35 cents, according to NGI’s Forward Look.

An early-season heat wave and fluctuating production helped lift forward prices at the majority of pricing hubs across the country during the May 23-29 period, with gains up to 10 cents most common. However, increasing supply in the Permian Basin combined with pipeline maintenance to drive regional prices back into negative territory after plunging as much as 35 cents, according to NGI’s Forward Look.