eia storage report

Natural Gas Futures Plummet Below $5 as Mild Weather to Prevail into Early November

Natural Gas Futures Plummet Below $5 as Mild Weather to Prevail into Early November

Natural gas futures extended their losses on Monday as cold weather remained largely absent from long-range forecasts. Despite higher global prices, the November Nymex gas futures contract plunged 42.1 cents to settle at $4.989/MMBtu. December dropped 36.4 cents to hit $5.236. Spot gas prices also continued to slide, with NGI’s Spot Gas National Avg. slipping…

October 18, 2021
Natural Gas Futures Give Back Gains as Wind Gen Said Returning to Drive Up Injection Rate

Natural Gas Futures Give Back Gains as Wind Gen Said Returning to Drive Up Injection Rate

As the natural gas market continued to mull the implications of a lower-than-expected weekly storage build, one that appeared to derive from a temporary drop in renewable generation, futures prices retreated in early trading Friday. After rallying 9.7 cents in the previous session, the November Nymex contract was down 10.4 cents to $5.583/MMBtu at around…

October 15, 2021
Hints of Cooler Weather, Tight EIA Storage Stat Spook Natural Gas Futures; Cash Rallies

Hints of Cooler Weather, Tight EIA Storage Stat Spook Natural Gas Futures; Cash Rallies

Natural gas futures continued to surge Thursday as weather models finally started trending cooler and the latest storage data reflected one of the tightest balances all summer. The November Nymex gas futures contract nearly touched $6.000/MMBtu before midday, but ultimately settled at $5.687, up 9.7 cents from Wednesday’s close. December climbed 8.4 cents to $5.837.…

October 14, 2021
Low Wind Generation Drives EIA’s Shocking 81 Bcf Storage Build; Natural Gas Futures Surge

Low Wind Generation Drives EIA’s Shocking 81 Bcf Storage Build; Natural Gas Futures Surge

After weeks of surprising to the upside, the Energy Information Administration (EIA) stunned the natural gas market on Thursday with a much lower-than-expected 81 Bcf injection into storage. Although there were concerns of a low-side storage build, the figure came in 3 Bcf below the lowest estimate ahead of the inventory report. The latest EIA…

October 14, 2021
Global Price Strength Seen Driving Natural Gas Futures Higher in Early Trading

Global Price Strength Seen Driving Natural Gas Futures Higher in Early Trading

Natural gas futures rallied sharply early Thursday as analysts pointed to stronger overseas prices and a less bearish domestic weather outlook. The November Nymex contract was up 20.9 cents to $5.799/MMBtu at around 8:50 a.m. ET. In terms of recent weather model runs, EBW Analytics Group analysts early Thursday observed an additional 8.4 Bcf of…

October 14, 2021
Natural Gas Futures Tumble Further as Warm Weather Pattern Intact Despite Cooler Shift

Natural Gas Futures Tumble Further as Warm Weather Pattern Intact Despite Cooler Shift

After testing some upside in overnight trading, natural gas futures reversed course once Monday’s trading session got underway. The initial rise in prices was attributed to cooler-trending weather models, which ultimately did little to alter the overall warm theme seen this fall. The November Nymex gas futures contract slid 22.0 cents to $5.345. December fell…

October 11, 2021
November Natural Gas Prices Tumble to Near $5.50 as Cold Not Yet on Radar; Cash Off

November Natural Gas Prices Tumble to Near $5.50 as Cold Not Yet on Radar; Cash Off

After another week of turbulent swings in the natural gas market, bulls and bears appeared ready to take a breather on Friday. November Nymex gas futures still gyrated in a more than 30-cent range, but were poised to settle nearly flat on the day before a late-session sell-off ended with the contract off 11.2 cents…

October 8, 2021
Natural Gas Futures Finish Flat After EIA Storage Data Points to Looser U.S. Balances

Natural Gas Futures Finish Flat After EIA Storage Data Points to Looser U.S. Balances

With European natural gas prices continuing to sell off and U.S. fundamentals remaining firmly in bear territory following the government’s latest storage report, futures prices slid early. The November Nymex contract touched a $5.393/MMBtu intraday low but popped quite a bit given little change in the global backdrop, settling Thursday at $5.677, up two-tenths of…

October 7, 2021
EIA Reports ‘Very Ugly’ 118 Bcf Injection into Natural Gas Storage; Price Action Unstable

EIA Reports ‘Very Ugly’ 118 Bcf Injection into Natural Gas Storage; Price Action Unstable

Natural gas storage inventories during the week ending Oct. 1 rose by a stunning 118 Bcf, according to the Energy Information Administration (EIA). The triple-digit injection came in about 10 Bcf higher than market consensus and promptly sent Nymex futures, already sharply lower, tumbling further. In the minutes leading up to the EIA’s weekly storage…

October 7, 2021
Natural Gas Futures Open Week Sharply Higher, but Fail to Maintain $6 Handle

Natural Gas Futures Open Week Sharply Higher, but Fail to Maintain $6 Handle

Natural gas futures traded above $6.000/MMBtu to start the week as global supply concerns continued to infiltrate the U.S. gas market. With domestic gas demand at a seasonal low, however, early gains were pared and the November Nymex gas futures contract settled at $5.766, still up a significant 14.7 cents from Friday’s close. Spot gas…

October 4, 2021