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…
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With Production Lighter, April Natural Gas Futures Advance in Front Month Debut; Spot Prices Strengthen
Natural gas for delivery in April ramped up a third straight day, supported on Wednesday by lower production estimates and a late winter blast of frigid air across the nation’s midsection. At A Glance: 80s Bcf withdrawal expected Output holds near 102 Bcf/d Colder near-term conditions In its first session as the prompt month, the…
Natural Gas Futures Extend Winning Ways Amid Winter’s Fury, Spot Price Strength
Natural gas futures rallied again on frigid temperatures and mounting heating demand, continuing an uninterrupted stretch of gains that dates to the opening session of 2024. At A Glance: Prompt month tops $3.300 Snow, freezing air pervasive Production declines 2 Bcf/d Coming off steady advances last week and an 8.7-cent gain to begin this week,…
EIA Storage Report Expectations and Mild Weather Limit Natural Gas Futures Gains
January Nymex natural gas futures staged a modest recovery Wednesday, but attempts at more considerable gains were thwarted by overall mild weather trends that pointed to comparatively small storage withdrawals as production stayed robust. At A Glance: January futures stage modest recovery Slight cooldown provides some support Fundamentals remain mostly bearish The January contract settled…
Natural Gas Forward Prices Retreat on Production Boom, Mild December Weather
Booming production numbers and the possibility of underwhelming December weather had natural gas prices reeling during the Nov. 16-21 period, with both regional forwards and Nymex futures posting sizable discounts. In the face of record-level supply flooding the market, bulls seemed ready to throw in the towel on winter as fixed prices for December at…
Global Natural Gas Prices Remain Muted as Market Looks Ahead to Winter, 2024 Demand – LNG Recap
Despite sweltering heat waves and a slight lift in European prices, LNG market activity is expected to remain light as buyers and U.S. producers hone in on the future supply and demand scenario. After a brief climb to almost $11/MMbtu last week, the Dutch Title Transfer Facility (TTF) dropped to $8.705/MMBtu at the end of…
Natural Gas Futures Lose Steam Amid Production Uptick, Plump Supplies; Spot Prices Sail
Natural gas futures floundered on Wednesday, continuing a topsy-turvy trading trend as market participants weighed continued strong supplies against robust – but varying – cooling demand and forecasts for more of the same. At A Glance: Front month sheds 6.5 cents Analysts see smaller injection Weather forecasts ease some Following a 4.5-cent gain for the…
Natural Gas Futures, Spot Prices Fall Second Day as Market Braces For Bearish Storage Report
Natural gas futures faltered on Wednesday, a second-consecutive loss, as analysts anticipated another soft government inventory print and traders started to look past a late-winter surge of cold and toward likely benign spring weather. At A Glance: Analysts see modest storage draw Forecasts call for near-term cold Mixed reads on gas production The April Nymex…
Natural Gas Forward Curves Retreat as Deadly Ian Rages Across Southeast
With natural gas production remaining stout – even amid temporary shut-ins ahead of Hurricane Ian – and cooler weather leaving its mark on storage inventories, natural gas forward prices continued to fall during the Sept. 22-28 week, according to NGI’s Forward Look. In the latter part of the period, all attention was on Florida, where…
Natural Gas Forwards Close Out 2020 with Steep Losses Amid Warm January Outlook
With Old Man Winter appearing to trade in his snow boots for flip flops, natural gas forward prices ratcheted up declines during the final week of 2020. February prices tumbled an average of 11.0 cents from Dec. 24 to 30, while the balance of winter (February-March) fell an average 9.0 cents, according to NGI’s Forward…