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Oversupply Concerns Drag Natural Gas Forward Prices Lower
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Spotlight on Southern California as Natural Gas Forward Prices Surge Amid Weak Macro Picture
Against a consistent backdrop of lackluster natural gas demand, robust production, lagging exports and unseasonably solid storage inventories, forward prices continued to crumble during the March 16-22 period, according to NGI’s Forward Look. Natural gas fixed prices declined more than 30.0 cents on average for April, with several U.S. locations recording even steeper decreases for…
March 23, 2023Markets
Natural Gas Forward Prices Slide Further Amid Stubborn Storage Surplus; Balances Remain Loose
Though late-season cold was boosting heating demand across most of the Lower 48, natural gas forward prices continued to decline during the March 9-15 period, according to NGI’s Forward Look. In a sign that the chilly weather arrived too little too late, fixed price decreases averaged 11.0 cents for the April contract, Forward Look data…
March 16, 2023Forward Look
March Forecast Trends Disappoint Natural Gas Markets as Forwards Retreat
Declining March heating demand expectations inspired coast-to-coast discounts for regional natural gas forwards during the March 2-8 trading period, NGI’s Forward Look data show. April fixed prices at benchmark Henry Hub fell 27.1 cents to end the period at $2.548/MMBtu, and week/week fixed price discounts of around 20-30 cents were the norm for much of…
March 9, 2023Markets
Record-Breaking Snowstorms Hit West Coast, Driving Massive Price Increases Along Forward Curve
Natural gas forward prices escalated across the Lower 48 throughout the Feb. 23-March 1 period, with a continuation of winter storms fueling sharp premiums on the West Coast, according to NGI’s Forward Look. Fixed prices remain low overall as benchmark Henry Hub stood Wednesday at $2.819/MMBtu for April. That has prompted some power generators to…
March 2, 2023Trending News
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