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.
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Forecasts Tweaked Cooler; February Called 2 Cents Higher
February natural gas is set to open 2 cents higher Thursday morning at $3.29 as traders factor in slightly cooler temperatures before what is expected to be a moderate storage report. Overnight oil markets were mixed.
Futures Plunge on Revised Weather; February Called 26 Cents Lower
February natural gas is set to open at $3.46, a stout 26 cents lower, Tuesday morning as weather models show a generally warmer outlook. Overnight oil markets surged.
Traders Discount Second Cold Blast; February Seen 6 Cents Lower
February natural gas is expected to open 6 cents lower Thursday morning at $3.84 even though weather forecasters call for a second round of cold in about two weeks. Overnight oil markets were mixed.
Traders Mull Forecast Cold; Expiring January Seen Down A Nickel
The expiring January natural gas futures contract is set to open 5 cents lower Wednesday morning at $3.71 as traders tinker with the timing of anticipated market-moving cold next week. Overnight oil markets were mixed.
‘Mismatched’ Market Rolls Higher; January Called Up 10 Cents
January natural gas is set to open 10 cents higher Tuesday morning at $3.76 as traders brace for another onslaught of inventory-pulling cold expected to traverse deep into the Midwest. Overnight oil markets rose.
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.
Weather Bulls Can’t Get A Break as Models Moderate; January Seen 4 Cents Lower
January natural gas is set to open 4 cents lower Tuesday morning at $3.35 as overnight weather runs show less cold and market technicians see further weakness. Overnight oil markets rose.
Bulls On The Ropes as Further Declines Seen; January Called 4 Cents Lower
January natural gas is set to open 4 cents lower Friday morning at $3.39 as longer-term weather forecasts turn more mild and traders mull a classic case of “buy the rumor, sell the fact.” Overnight oil markets rose.
Brrrrr, It’s Cold; Eastern Cash Natgas Soars, Futures Post Gains
Next-day natural gas trading on Wednesday was a deeply divided affair, with gas bound for East Coast and New England destinations sharply higher, often by multiple dollars, and producing zones and Midwest market zones down about a nickel.