Natural gas futures resumed their climb on Monday, buoyed by near-record export demand and the arrival of chilly weather. With the latest forecast extending and intensifying the cooler temperatures, the May Nymex contract settled 6.9 cents higher at $2.749. June climbed 6.4 cents to $2.818. Spot gas prices also moved higher in most areas outside…
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Chillier Forecast, ‘Elevated’ Exports Send Natural Gas Futures Higher Early
Riding momentum from strong export levels and continued colder trends from forecasts over the weekend, natural gas futures probed several cents higher in early trading Monday. The May Nymex contract was up 3.9 cents to $2.719/MMBtu at around 8:40 a.m. ET. In its latest 15-day forecast Monday Bespoke Weather Services added nine gas-weighted degree days…
Storage Injection Lighter Than Expectations, Sending May Natural Gas Futures Higher
The U.S. Energy Information Administration (EIA) reported an injection of 61 Bcf natural gas storage for the week ended April 9, coming in below median estimates and driving Nymex natural gas futures into the green. The latest figure was below the 68 Bcf build EIA recorded in the year-ago period but above the five-year average…
Natural Gas Futures Slide Early as EIA Report Not Expected to Provide Bullish Momentum
With overnight forecasts shedding a small amount of heating demand from the outlook, and with traders preparing to digest updated government inventory data, natural gas futures eased lower in early trading Thursday. The May Nymex contract was down 2.1 cents to $2.597/MMBtu at around 8:45 a.m. ET. For this week’s U.S. Energy Information Administration (EIA)…
As Temperatures Fall, Cash Prices Advance and May Natural Gas Futures Tread Water
Natural gas futures traded in the green much of Wednesday, lifted by colder weather trends that pointed to increased heating demand through the second half of April. Near-record liquefied natural gas (LNG) levels continued to provide price support as well. But a sixth-straight day of gains proved elusive as traders took profits late in the…
May Natural Gas Advances as Analysts See Signs of Improved Balances
After finding technical support last week, natural gas futures advanced in early trading Monday as analysts pointed to signs of stronger balances. The May Nymex contract was up 5.7 cents to $2.583/MMBtu at around 8:50 a.m. ET. The gains in futures prices early Monday occurred amid recent indications of a stronger supply/demand balance for natural…
Overall Forecast Themes Unchanged as Natural Gas Futures Steady Early
Natural gas futures were trading close to even early Friday amid no major changes to the weather outlook overnight, while analysts continued to mull the implications of the latest government inventory data. The May Nymex contract was up 1.2 cents to $2.534/MMBtu at around 8:50 a.m. ET. The U.S. Energy Information Administration (EIA) on Thursday…
Natural Gas Futures Steady After Storage Data Fails to ‘Turn the Tide’
Natural gas futures waffled in and out of the green Thursday after the weekly storage data failed to offer any surprises, and weather models maintained a warm pattern for the near term. The May Nymex gas futures contract ultimately settled two-tenths of a cent higher at $2.522/MMBtu. June picked up a penny to reach $2.607.…
EIA’s Ho-Hum 20 Bcf Storage Injection Fails to Move Nymex Natural Gas Futures Prices
After weeks of big surprises on the natural gas storage front, the Energy Information Administration (EIA) reported an on-target 20 Bcf injection into storage inventories for the week ending April 2. The EIA figure was only a couple Bcf off market consensus, but it fell short of the year-ago 30 Bcf injection. The injection, however,…
Traders Turn to EIA Data as ‘Range-Bound’ Natural Gas Futures Pare Gains Early
Coming off gains in the previous session, natural gas futures reversed lower early Thursday as traders prepared to turn their attention to the latest round government inventory data. The May Nymex contract was down 3.2 cents to $2.488/MMBtu at around 8:50 a.m. ET. Predictions ahead of today’s U.S. Energy Information Administration (EIA) storage report, scheduled…