West Texas Natural Gas Prices Recover as South Central Storage Surplus Narrows

As summer-like heat settles across Texas and neighboring states – and production in the region levels off – South Central natural gas storage surpluses are steadily narrowing. Inventories in the region were 21% above the five-year average as of May 17, according to the latest U.S. Energy Information Administration (EIA) data released Thursday. That was…

Weekly Cash Natural Gas Prices Mostly Rise; Futures Early Rally Fades Despite Fundamentals

Weekly spot natural gas prices notched gains as intensifying heat in portions of the country stoked cooling demand. Futures surged in anticipation of the rising summer load but sank into the week’s end on profit-taking. NGI’s Weekly Spot Gas National Avg. for the May 21-28 period, extended due to the long Memorial Day holiday weekend,…

May 24, 2024

June Natural Gas Futures Tumble in Consolidation as Expiration Nears; Holiday Pressures Cash

June Nymex natural gas futures continued to sputter Friday after rising early Thursday to their highest price level since mid-January before finishing sharply lower. At A Glance: Futures down 13.7 cents Fundamental sway limited Cash down despite heat The front-month contract settled at $2.520/MMBtu, down 13.7 cents day/day. More heavily traded July futures fell 15.0…

May 24, 2024

Natural Gas Prices Rally in Key Production Regions to Launch June Bidweek Trading as Summer Nears

Natural gas prices pushed higher in key regions during the first day of June bidweek trading on Friday as production leveled off below 100 Bcf/d, storage surpluses narrowed and forecasts pointed to a hot start to summer. NGI’s Bidweek Alert (BWA) showed strength from Texas to the Rockies – important production regions – to kick…

May 24, 2024

Southeast Natural Gas Summer Price Premiums Rise as Transco Constraint Crimps Flows  

Regional natural gas forwards continued to soar during the May 16-22 trading period in parallel to the recent bullish momentum lifting summer Nymex futures to new heights, data from NGI’s Forward Look show. Fixed prices at Henry Hub rallied 42.3 cents week/week to finish at $2.845/MMBtu for June delivery. Gains at the benchmark were strongest…

May 24, 2024