Bidweek

May Natural Gas Bidweek Prices Depressed on Second Day of Trade

May Natural Gas Bidweek Prices Depressed on Second Day of Trade

As bidweek continued into a second day Thursday (April 25), baseload prices maintained the weak tenor established in Wednesday’s opener, according to NGI’s Bidweek Alert (BWA). Deal volumes were predominantly lower from Wednesday levels. Bidweek trading concludes on Friday. Leading on volume, Dawn in the Midwest saw 249,000 MMBtu/d in total volumes traded in 64…

April 26, 2024
Mild Weather and Supply Woes Weigh on May Natural Gas Bidweek Prices 

Mild Weather and Supply Woes Weigh on May Natural Gas Bidweek Prices 

Baseload natural gas prices were trending lower for May delivery as mild weather and a glut of supply in Texas kept bidders from rushing to buy on the first day of bidweek trading Wednesday (April 24), according to NGI’s Bidweek Alert (BWA). In West Texas, Waha traded at fixed prices between negative 44.0 cents and…

April 25, 2024
March Bidweek Trading Starts on Downslope as Weather Seen Driving Wider Storage Surplus

March Bidweek Trading Starts on Downslope as Weather Seen Driving Wider Storage Surplus

Hamstrung by a growing surplus of natural gas in inventories and with a spring-like February running into a mild March, traders tugged natural gas prices lower for March baseload delivery, according to NGI’s Bidweek Alert (BWA). Losses were largest in the West, where California’s SoCal Citygate traded about $2.20 lower month/month at around $3.170/MMBtu, BWA…

February 26, 2024
February Bidweek Trading Gets Off to Choppy Start Following Record Storage Draw, Lingering Outages

February Bidweek Trading Gets Off to Choppy Start Following Record Storage Draw, Lingering Outages

Spooked by the natural gas market’s third-largest storage withdrawal on record that took a huge bite out of the supply surplus, traders sent February baseload prices higher for several U.S. locations on the first day of bidweek trading, according to NGI’s Bidweek Alert (BWA). Gains were strongest in the West, where California’s SoCal Citygate traded…

January 26, 2024
Plentiful Natural Gas Supplies Weigh Heavily on January Bidweek Trading

Plentiful Natural Gas Supplies Weigh Heavily on January Bidweek Trading

Absent much convincing cold in the forecast – and near-record production – natural gas prices were trending lower for January baseload delivery, according to NGI’s Bidweek Alert (BWA). Notably, prices fell hardest in the West, a sharp turnaround from this time last year when Winter Storm Elliott slammed large swaths of the country ahead of…

December 22, 2023
Stubbornly High Natural Gas Production Prompts EIA to Slash Henry Hub Winter Price Forecast

Stubbornly High Natural Gas Production Prompts EIA to Slash Henry Hub Winter Price Forecast

The U.S. Energy Information Administration (EIA) is slashing its winter Henry Hub spot price forecast on a combination of elevated production and weak space heating demand for natural gas so far this season. EIA said in its latest Short-Term Energy Outlook (STEO) it now expects the national benchmark to average $2.80/MMBtu this winter, down 60…

December 13, 2023
Shoulder-Season Doldrums Seen Pressuring October Baseload Natural Gas Prices

Shoulder-Season Doldrums Seen Pressuring October Baseload Natural Gas Prices

Natural gas prices were trending lower for October bidweek, dragged down by moderate temperatures, soft LNG demand and a host of other bearish factors as the fall shoulder season gets underway, according to NGI’s Bidweek Alert. California led the month/month price decreases as prices at the SoCal Citygate plummeted around $2.000 from the September bidweek…

September 26, 2023
Heat Seen Propping Up Texas, Central U.S. Natural Gas Prices for September Baseload

Heat Seen Propping Up Texas, Central U.S. Natural Gas Prices for September Baseload

After one of the hottest months on record for some key natural gas regions, September baseload natural gas was trending mixed during the first two days of bidweek trading, which runs from Aug. 25-29. NGI’s Bidweek Alert showed the majority of U.S. locations falling month/month as temperatures are expected to ease seasonally in September. However,…

August 29, 2023
Chesapeake Working Deals to Expose More Natural Gas Production to LNG Market

Chesapeake Working Deals to Expose More Natural Gas Production to LNG Market

Chesapeake Energy Corp. executives said Wednesday they expect to announce more deals tied to the LNG market as the company aims to expose 15-20% of its natural gas production to international trade of the super-chilled fuel.  Earlier this year, Chesapeake clinched a tentative arrangement with global commodities trader Gunvor Group Ltd. to supply up to…

August 2, 2023
August Baseload Natural Gas Trending Lower as Lofty Supplies Outweigh Sweltering Summer Heat

August Baseload Natural Gas Trending Lower as Lofty Supplies Outweigh Sweltering Summer Heat

Baseload natural gas prices for August trended lower on the first day of bidweek trading, according to NGI’s Bidweek Alert. The modest price declines occurred against a backdrop of stubbornly high storage levels and lofty production levels, which have been offset only by strong summer heat in the West and Texas. Despite the modest weakness…

July 26, 2023
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