March natural gas is set to open 2 cents lower Tuesday morning at $2.92 as traders confront a new set of forecasts showing still milder weather conditions. Overnight oil markets rose.
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Technical Support, Forecast For Prolonged Northeast Cold Boosts NatGas Forwards
Renewed buying interest after the previous week’s slide in natural gas prices, as well as supportive news on the weather front, sent natural gas forward prices up across the curve.
Traders Mull Short-Term Cooling, Expected Stout Storage Draw; March Called 3 Cents Higher
March natural gas is set to open 3 cents higher Thursday morning at $3.16 as traders see short-term bullish conditions in the form of near-term weather coupled with an expected government report showing usage above historical norms. Overnight oil markets rose.
Eastern Markets Seen Milder; March Called 6 Cents Lower
March natural gas is set to open 6 cents lower Tuesday morning at $3.17 as overnight near-term weather models showed significantly warmer conditions in eastern energy markets. Overnight oil markets rose.
NatGas Forwards Prices Perk Up on Bullish 151 Bcf Storage Withdrawal
After swinging throughout the week, much like weather forecasts, natural gas forwards and futures markets turned decidedly bullish on Thursday after a much larger-than-expected storage report, lifting February forwards prices up an average 17 cents that day and up an average 10 cents between Jan. 6 and 12, according to NGI’s Forward Look.
Traders Looking to Go Long; February Called 12 Cents Higher
February natural gas is set to open 12 cents higher Tuesday morning at $3.22 as traders see limited downside risk and weather models hold steady. Overnight oil markets rose.
January’s Expected Warm-Up Sinks Natural Gas Forwards Values
There was no spectacular fireworks show for natural gas forwards markets the first week of the new year as bleak prospects for cold weather later this month sent the February prompt month barreling down an average of 56 cents between Dec. 30 and Jan. 5, according to NGI Forward Look.
Traders Mull Forecast Western Cold; January Called 2 Cents Higher
January natural gas is set to open 2 cents higher Friday morning at $3.56 as traders assess the likelihood of market-moving cold emerging around the first of the year. Overnight oil markets fell.
No Sign of Wintry Blasts; December NatGas Forwards Plunge 34 Cents First Week at Front of Curve
The steep losses that were seen as November rolled off the natural gas forwards curve paled in comparison to the cannonball splash December made during its first week at the front of the curve, when prices plummeted an average 34.4 cents between Oct. 28 and Nov. 3, and several markets lost upwards of 50 cents, according to NGI’s Forward Look.
Modest Weakness Seen Prior to Weather-Related Gains; December Called 4 Cents Lower
December natural gas is expected to open 4 cents lower Tuesday morning at $2.99 as traders factor in a modest decline into long-term support and weather models remain moderate. Overnight oil markets gained.