Natural gas futures continued to climb on Wednesday despite starkly bearish near-term fundamentals, including the potential for a record fall storage injection. After hitting a $7.022/MMBtu intraday high, though, the Nymex November gas futures contract settled Wednesday at $6.930, up only 9.3 cents day/day. December futures climbed 6.2 cents to $7.236. At A Glance: 100-plus…
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EIA’s 49 Bcf Storage Build Drags Natural Gas Futures Below $4.00
The Energy Information Administration (EIA) reported an on-target 49 Bcf injection into natural gas storage inventories for the week ending Aug. 6, quickly sending futures prices to around $4.00/MMBtu. The 49 Bcf build was on par with major survey estimates ahead of the report and came in not too far removed from historical levels. Last…
Led by South Central, EIA Report Shows Massive First Storage Injection
The Energy Information Administration (EIA) reported a 23 Bcf injection into storage inventories for the week ending March 29, massively larger than the majority of expectations.
EIA Shocks with 96 Bcf Storage Build; July Natural Gas Falls
The Energy Information Administration (EIA) reported a 96 Bcf build into storage inventories for the week ending June 8, considerably higher than even the most bearish of expectations. Nymex July natural gas futures initially appeared to take the surprise build in stride as the prompt month barely budged after the storage report’s 10:30 a.m. release.
FPL Moving Ahead with Natural Gas-Fired, Solar Power Plans
Continuing a decade-long trend, Florida Power & Light (FPL) this month pushed ahead with plans for natural gas-fired and solar electricity generation facilities, but it intends to delay plans for two units at an existing nuclear plant.
Natural Gas Futures Slide Following On-Target Storage Figures
November natural gas futures fell Thursday following a report by the Energy Information Administration (EIA) showing a storage build that was right on target with what traders were expecting.
Focus Turns to EIA Storage Report as September Called A Penny Lower
September natural gas is set to open about a penny lower Thursday as traders look ahead to the 10:30 a.m. EDT release of the Energy Information Administration’s storage report for the week ended Aug. 11.
Bullish Storage Build Puts Pressure on $3 Natural Gas
Natural gas futures bulls received a dose of supportive fundamentals Thursday morning as the Energy Information Administration reported that a less-than-expected 28 Bcf was injected into underground storage for the week ended Aug. 4.
Traders See ‘Snoozer’ Storage Report; May Called 2 Cents Lower
May natural gas is expected to open 2 cents lower Thursday morning at $3.17 as neither expected near-term weather or anticipated government inventory figures give much incentive to make incremental purchases. Overnight oil markets rose.
‘Overbought’ October Contract Seen A Penny Higher
October natural gas is expected to open a penny higher Thursday morning at $3.07 as season-ending supplies equal to last year seem to be slipping away. Overnight oil markets rose.