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PM-markets0512

Natural Gas Futures Steady as Forecasts Warm; Cash Mixed

Natural gas futures snapped a three-day losing streak, edging up Monday as weather models hinted at what could be a warmer-than-normal summer. However, with a looming storage “tsunami,” the June Nymex gas futures contract settled only three-tenths of a cent higher than Friday’s close at $1.826. July climbed .008 cents to $2.085. Read More
PM-markets

Production Drop, Cooler Forecasts Fuel Natural Gas Futures; Cash Strong Too

Coming off a mild winter, weather models that showed chilly weather lingering a bit longer aided a rebound for natural gas futures to start the week. Reinforced by a sustained drop in production that first showed up at the end of last week, the June Nymex gas futures contract climbed 10.3 cents to settle Monday at $1.993. July rose 9.6 cents to $2.230. Read More
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Natural Gas Futures Fall as Market Gears Up for ‘Dramatic’ Storage Injections in May

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. Read More
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‘Roller Coaster’ Continues at Full Speed for Natural Gas Futures; Permian Cash Gains Again

Early selling in natural gas futures failed to hold, with erratic, non-fundamentally driven price fluctuations continuing midweek. After sinking to a $1.774 intraday low, the May Nymex gas futures contract settled Wednesday at $1.939, up 11.8 cents on the day. Increases continued throughout the curve, with June picking up 6.9 cents to hit $2.053. Read More
Waha Cash

Natural Gas Futures Surge as WTI Crude Goes Negative, but Waha Cash Trades at Record Low

Still struggling to get a grasp on how much demand is being lost amid the coronavirus pandemic, natural gas traders on Monday took their cue from unparalleled deterioration in the oil markets. After an initial sell-off early in the session, the May Nymex gas futures contract rallied, shattering resistance and settling the day at $1.924, up 17.1 cents from Friday’s close. June climbed 14.6 cents to $2.049. Read More

Natural Gas Futures See Wild Swings in ‘Obscenely Loose’ Market; Cash Rebounds

After a successful attempt at breaching $1.80/MMBtu, May natural gas futures slammed the brakes as widespread demand losses from Covid-19-related shutdowns continued to dominate markets. However, volatility remained high and the prompt month went on to settle Monday at $1.724, off only nine-tenths of 1 cent from last Thursday’s closing price. June climbed 1.6 cents to $1.879. Read More

Natural Gas Futures Down, Then Up, Amid Coronavirus Unease

Riding the waves of economic unease in the face of a growing pandemic, natural gas futures turned in an up-and-down day of trading Monday before settling close to unchanged. The April Nymex contract traded as low as $1.519/MMBtu, then rebounded to as high as $1.628, ultimately finishing at $1.602, off 0.2 cents. Read More

Natural Gas Traders See Bright Side to Oil Price Carnage

On another day of widespread economic uncertainty, natural gas futures recovered from an early swoon Monday, rallying sharply as bulls latched onto the prospect of the oil price collapse leading to cuts in associated gas output. After trading as low as $1.610/MMBtu, the April Nymex contract went on to settle at $1.778, up 7.0 cents day/day. Gains were even stronger further along the strip, with the Winter 2020/21 contracts gaining around a dime. Read More
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Natural Gas Futures Continue Gains as ‘Solid Bottom’ Potentially in Place

The natural gas futures market extended its recent move higher Wednesday, with fading cold weather potentially allowing traders to shift their attention to tighter balances. Continuing to rebound after a test of long-term support late last week, the April Nymex contract picked up another 2.7 cents to settle at $1.827/MMBtu. May settled at $1.865, also up 2.7 cents. Read More