November natural gas is set to open a penny lower Thursday morning at $2.86 as traders note little change in the ongoing shortfall of heating load, and expect a below average storage build in a morning government report. Overnight oil markets fell.
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Mexico produced 5.334 Bcf/d of natural gas in April, state oil and natural gas company Petroleos Mexicanos (Pemex) reported, a drop of 9.9% from the 5.921 Bcf/d recorded a year ago.
July natural gas was set to open a couple pennies lower Wednesday morning as the market continued its search for signs of the onset of summer cooling demand. Overnight oil markets were down.
June natural gas is set to open 5 cents lower Tuesday morning at $3.28 as traders factor in moderating temperatures and a short-term loss of demand. Overnight oil markets retreated.
Wells Fargo Securities LLC has raised its natural gas price forecast for 2017, citing increased exports to Mexico and overseas, as well as improving demand, which should outpace “moderate” supply gains.
April natural gas is set to open a penny lower Tuesday morning at $3.04 as heating load is forecast to be below normal levels and traders sense a weakening technical picture. Overnight oil markets rose.
April natural gas is expected to open 6 cents higher Monday morning at $3.07 as traders factor in greater cold and higher heating loads for the upcoming week. Overnight oil markets eased.
Northern British Columbia (BC) still deserves its industry nickname as the “near frontier” where vast shale deposits of natural gas and liquid byproducts have barely been touched, according to the latest provincial supply assessment.
February natural gas is expected to open unchanged Wednesday morning at $3.28 as weather models show wide variations in outlooks. Overnight oil markets fell.
U.S. natural gas prices are looking stronger today than they did in early December, with Henry Hub now expected to average $3.55/MMBtu in 2017, compared with last month’s forecast of $3.27, the U.S. Energy Information Administration (EIA) said Tuesday.