As the market prepared to price in two weeks of government inventory statistics to true up recent balance assessments, natural gas futures were trading close to even early Thursday, belying recent price swings. After dropping as low as $3.133/MMBtu and probing as high as $3.265 in after hours trade, the December Nymex contract hovered just…
Tag / eia storage report
Subscribeeia storage report
Articles from eia storage report
Natural Gas Futures Forge Ahead On Frigid Late November Forecasts; Cash Falls in Midwest and East
Natural gas futures jumped Wednesday as traders looked ahead to below-normal temperatures for most of the country in late November and a rare double dose of weekly government storage data Thursday. At A Glance: Prompt month adds 8.4 cents Rockies, California lead cash gains NGI estimates 9 Bcf draw, 43 Bcf injection The December Nymex…
Bearish Storage Injection Sends November Natural Gas Futures Reeling
Utilities injected 97 Bcf of natural gas into storage for the week ended Oct. 13, bolstered by a big boost in South Central supplies, the U.S. Energy Information Administration (EIA) reported on Thursday. The result proved bearish versus expectations and recent norms – an 85 Bcf five-year average increase – and drove down Nymex natural…
Natural Gas Futures Struggle for Direction Even as Spot Prices Further Strengthen
Natural gas futures found fresh footing early Wednesday, rising 8.0 cents in morning trading, but prices ultimately slumped and the prompt month extended a losing streak to six sessions. Weather forecasts showed more demand in coming weeks and LNG feed gas volumes held strong, but abundant supplies countered. At A Glance: Analysts see moderate injection…
Natural Gas Futures Snap Lengthy Streak of Gains Ahead of Storage Print; Cash Prices Cascade
November natural gas futures on Wednesday faltered for the first time in seven sessions as traders booked profits and bulls took a breather ahead of the next potential market catalyst – Thursday’s government inventory report. At A Glance: Modest injection anticipated Production close to 101 Bcf/d Mixed weather-demand view The November Nymex gas futures contract…
With ‘Relatively Bullish’ EIA Print on Tap, Natural Gas Futures Continue to Test $3 Level Early
As traders looked ahead to a potentially supportive surplus-trimming government inventory report, natural gas futures probed above the $3.000/MMBtu level early Thursday. The November Nymex contract was up 5.5 cents to $3.017 at around 8:50 a.m. ET. December was up 4.9 cents to $3.369. Estimates have the U.S. Energy Information Administration (EIA) revealing a lighter-than-average…
October Natural Gas Futures Price Rally Extends into Expiration, Marking Four Straight Gains
October natural gas futures traded higher for a fourth consecutive day before rolling off the books as the prompt month. Maintenance-imposed production interruptions and stronger LNG volumes offset waning weather-driven demand to support prices. At A Glance: Front month advances 10.8 cents Production proves choppy again High 80s Bcf injection estimated The October Nymex gas…
Natural Gas Futures Falter Following In-Line Inventory Print; Cash Prices Called Lower
Natural gas futures fell for a second consecutive day, with cooler weather and diminished demand overshadowing hits to production and a seasonally light storage injection. At A Glance: EIA posts 64 Bcf storage injection Production lower on maintenance Cooling demand dissipates rapidly The October Nymex gas futures contract fell 12.3 cents day/day and settled at…
Natural Gas Futures Prices Flip Lower Following Signs of Strong Supply, Benign Weather Forecasts
Natural gas futures snapped a two-day rally with a sharp drop on Wednesday as markets shifted focus to mild weather and persistently strong production. The October Nymex gas futures contract settled at $2.733/MMBtu, down 11.5 cents day/day. November fell 10.5 cents to $2.921. At A Glance: 60s Bcf injection projected Weather demand fades Output holds…
Natural Gas Futures Falter Again, Dragged Lower by Looming Cooldown; Cash Prices Creep Up
Natural gas futures on Wednesday picked up where they left off the prior session – mired in the red as traders braced for autumn weather and lighter demand. At A Glance: Prompt month sheds 7.2 cents Northeast production slips Market sees 40s Bcf injection Following an 18.3-cent drop a day earlier, the October Nymex gas…