Chicago Citygate

Great Lakes Natural Gas Pipeline Work Widens Downstream Price Spreads

Great Lakes Natural Gas Pipeline Work Widens Downstream Price Spreads

A pipeline maintenance project that began last week on one of the biggest routes for Canadian natural gas imports blew out spot price spreads to downstream Midwest markets, forcing another pipeline to ramp up flows to compensate to limit impacts. TC Energy Corp.’s Great Lakes Gas Transmission (GLGT) system started a seven-month project May 13…

May 24, 2024
Southeast Natural Gas Forwards Rally Amid Hot Forecast, Maintenance

Southeast Natural Gas Forwards Rally Amid Hot Forecast, Maintenance

Natural gas forwards rallied during the May 9-15 trading period as the market keyed in on the upside potential of summer power burns. Front month fixed prices at Henry Hub climbed 22.8 cents to finish the period at $2.422/MMBtu, Forward Look data show. Interestingly, near-month basis differentials weakened at numerous other Lower 48 trading points…

May 20, 2024
Natural Gas Forwards Rally; Southern Heat Spurs Regional Buying Pressure 

Natural Gas Forwards Rally; Southern Heat Spurs Regional Buying Pressure 

Natural gas forwards rallied during the May 9-15 trading period as the market keyed in on the upside potential of summer power burns. Front month fixed prices at Henry Hub climbed 22.8 cents to finish the period at $2.422/MMBtu, Forward Look data show.  Interestingly, near-month basis differentials weakened at numerous other Lower 48 trading points…

May 16, 2024
As Demand Dissipates, Natural Gas Futures and Spot Prices Finish Trading Week with Whimper

As Demand Dissipates, Natural Gas Futures and Spot Prices Finish Trading Week with Whimper

Natural gas futures were bound by a narrow range of gains and losses Friday. This capped a topsy-turvy trading week that featured falling production and an early rally, but also rapidly waning weather demand and choppy LNG activity that later sapped sentiment. At A Glance: Mild weather ahead Output near 99 Bcf/d Storage surplus holds…

April 12, 2024
Weekly Natural Gas Spot Prices, Futures Uneven Amid Mixed Fundamentals

Weekly Natural Gas Spot Prices, Futures Uneven Amid Mixed Fundamentals

Weekly natural gas cash prices gained ground overall amid a rash of chilly northern temperatures, but pockets of weakness, particularly in West Texas, tempered the advance. NGI’s Weekly Spot Gas National Avg. for the April 1-5 period rose 16.0 cents to $1.460/MMBtu. As the trading week culminated, leading gainers included Michigan Consolidated, up 25.0 cents…

April 5, 2024
May Natural Gas Futures Slide on First Day in Front Position; Holiday Weekend Deflates Cash Prices

May Natural Gas Futures Slide on First Day in Front Position; Holiday Weekend Deflates Cash Prices

The May Nymex natural gas futures contract crumbled in its premiere session in the lead position, anchored to the downside amid a plethora of bearish fundamentals, most notably abundant supply met by a shortage of demand. At A Glance: Prompt month sheds 7.0 cents Storage withdrawal expected Bearish spring weather ahead The newly anointed front-month…

March 27, 2024
Midwest Natural Gas Supply Glut May Fester, Hamper Prices Amid Mild Weather Outlook

Midwest Natural Gas Supply Glut May Fester, Hamper Prices Amid Mild Weather Outlook

Natural gas stored underground in the Midwest finished winter far above historical norms, reflecting strong production and unusually weak weather-driven heating demand. Spot gas prices have struggled to find momentum as a result. Chicago Citygate prices hovered around $1.500/MMBtu over the past week, roughly in line with NGI’s Spot Gas National Avg., but down about…

March 25, 2024
CNX Output Curb Fails to Lift Natural Gas Futures as Cash Slump Stumps Bulls

CNX Output Curb Fails to Lift Natural Gas Futures as Cash Slump Stumps Bulls

Natural gas futures reversed early gains Tuesday as weaker physical prices squashed initial optimism from another producer curtailment to send the prompt contract to its fifth straight decline. At A Glance: Output falls to 100.6 Bcf/d Warmth spreads to East National Avg. sinks to 2024 low The April Nymex contract settled at $1.714/MMBtu, down 4.5…

March 12, 2024
Production Drop Fails to Power Final Run for March Natural Gas; April Futures, Cash Prices Climb

Production Drop Fails to Power Final Run for March Natural Gas; April Futures, Cash Prices Climb

Natural gas futures were mixed on Tuesday, with the March contract off slightly amid light volume. But the April contract was boosted by bargain buying and a continued slide in production that could, if sustained, address supply/demand imbalance and bolster prices in the medium term. At A Glance: Output slips below 102 Bcf/d Solid but…

February 27, 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
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