Demand-Dampening Effect of Golden Pass Delay Ripples Through Natural Gas Forwards

Unable to escape a bearish fundamental outlook informed by production outperformance and mild December weather, regional natural gas forwards saw heavy discounts during the Nov. 30-Dec. 6 trading period, NGI’s Forward Look data show. National benchmark Henry Hub fell to $2.575/MMBtu for January delivery, a 24.4-cent slide versus week-earlier prices.   Winter bulls found little refuge…

Mild Winter Weather, Production Strength Keeping Pressure on Natural Gas Forward Prices

Facing a mild December forecast and record-level production flowing into the market, regional natural gas forwards underwent widespread selling during the Nov. 22-29 period, NGI’s Forward Look data show. January fixed prices at benchmark Henry Hub sold off 17.8 cents to end the period at $2.819/MMBtu, and January discounts of around 15 cents or more…

November 30, 2023

Natural Gas Forward Prices Retreat on Production Boom, Mild December Weather

Booming production numbers and the possibility of underwhelming December weather had natural gas prices reeling during the Nov. 16-21 period, with both regional forwards and Nymex futures posting sizable discounts. In the face of record-level supply flooding the market, bulls seemed ready to throw in the towel on winter as fixed prices for December at…

November 22, 2023

Winter Not Cold Enough to Send Bears into Hibernation as Natural Gas Forwards Mixed

Front-month natural gas forwards finished higher at most Lower 48 hubs during the Nov. 8-15 trading period, though bearish price action farther along the strip suggested a market incrementally less convinced of winter upside, according to NGI’s Forward Look. Fixed prices at Henry Hub picked up 5.1 cents for December delivery to end the period…

November 16, 2023

Basis Differentials Widen as Natural Gas Forward Traders Price in Supply, Mild Temps

With the market awash in supply and staring at bearish forecast maps stretching deep into November, regional natural gas forwards sold off sharply across the winter strip during the Nov. 2-7 trading period, NGI’s Forward Look data show. Henry Hub fixed prices saw deep discounts week/week, with December dropping 35.5 cents to $3.144/MMBtu. January, February…

November 8, 2023