Physical natural gas for Friday delivery slumped as modest strength in the East and California was unable to offset losses in Texas, Louisiana, market centers in the Midwest and the Midcontinent.
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The expiring October natural gas futures contract is set to open 7 cents lower Wednesday morning at $2.93 as near-term weather changes with a stalled system over key energy markets. Overnight oil markets rose.
October natural gas opened a penny higher Tuesday morning at $3.01 as traders note a continuing reduction in the storage surplus. Overnight oil markets plunged.
October natural gas is expected to open 5 cents higher Tuesday morning at $2.98 as expectations of warmer weather in key energy markets continue to energize the bulls. Overnight oil markets fell.
Even though natural gas forwards prices were up just 2 cents on average between Sept. 2 and 8, the short holiday week proved to be quite jarring as a surprise storage report lit a fire under forward curves that had appeared to be settling into shoulder season in the days prior to its release, NGI Forward Look data shows.
October natural gas is set to open 3 cents higher Thursday morning at $2.71 as traders factor in a government inventory report that is expected to show continuing increases below historical norms. Overnight oil markets advanced.
The expiring September natural gas contract is set to open 2 cents lower Monday morning at $2.85 as traders largely discount an array of weather factors in play. Overnight oil markets slumped.
September natural gas is expected to open 5 cents lower Tuesday morning at $2.70 as perceived moderation in temperatures and increased storage builds is prompting large non-commercial selling. Overnight oil markets were mixed.
September natural gas is set to open 2 cents lower Friday morning at $2.85 as traders see a market at the upper end of its recent trading range and at the same time factor in expected above-normal temperatures in the weeks ahead. Overnight oil markets continued to melt down.