Leticia Gonzales

Despite trading in the negative early Monday, the possibility of cold weather returning to the United States around Christmas was enough to send natural gas futures prices nearly 18 cents higher by midday. The Nymex January gas futures contract eventually went on to settle up just 5.7 cents at $4.545, while February slipped 1.8 cents to $4.360 and March slid 1.9 cents to $4.136.

The Energy Information Administration (EIA) reported a 63 Bcf withdrawal from Lower 48 natural gas inventories for the week ending Nov. 30, on the higher end of market expectations but within the range.

A jittery natural gas market plagued by a historic storage deficit that has only worsened before the peak of the winter season got some good news on the weather front as outlooks showed warmer temperatures beginning next week, a trend that could last for the next several weeks. January forward prices plunged an average 41 cents from Nov. 29-Dec. 5, while the balance of winter (February-March) dropped an average 31 cents, according to NGI’s Forward Look.

Natural gas traders were not taking any chances in holding short positions on Friday given continuously fluctuating weather forecasts. The Nymex January gas futures contract rocketed 16.1 cents higher to settle at $4.488, while February climbed 16.1 cents to $4.378 and March rose 23.1 cents to $4.155.

While natural gas futures prices continued to swing wildly in both directions during the Dec. 3-7 period, cash market direction was more clear as mild start to the week quickly gave way to more frigid conditions by midweek.

Natural gas traders were not taking any chances in holding short positions on Friday given continuously fluctuating weather forecasts. The Nymex January gas futures contract rocketed 16.1 cents higher to settle at $4.488, while February climbed 16.1 cents to $4.378 and March rose 23.1 cents to $4.155.

A jittery natural gas market plagued by a historic storage deficit that has only worsened before the peak of the winter season got some good news on the weather front as outlooks showed warmer temperatures beginning next week, a trend that could last for the next several weeks. January forward prices plunged an average 41 cents from Nov. 29-Dec. 5, while the balance of winter (February-March) dropped an average 31 cents, according to NGI’s Forward Look.

After some flipping back and forth Wednesday, natural gas market bears regained full control on Thursday as weather outlooks showed truly cold air locked well north of the United States/Canada border after this week’s cold front passes through. The Nymex January gas futures contract fell 14.2 cents to settle at $4.327, while February lost 11.3 cents to hit $4.217 and March slid 8.2 cents to $3.924.

After some flipping back and forth Wednesday, natural gas market bears regained full control on Thursday as weather outlooks showed truly cold air locked well north of the United States/Canada border after this week’s cold front passes through. The Nymex January gas futures contract fell 14.2 cents to settle at $4.327, while February lost 11.3 cents to hit $4.217 and March slid 8.2 cents to $3.924.