Natural gas futures snapped a three-day winning streak on Wednesday, giving up ground amid strengthening production, fading demand and weakness in cash markets. The June Nymex gas futures contract lost 7.6 cents day/day and settled at $2.191/MMBtu. July fell 9.1 cents to $2.336. At A Glance: Demand remains moderate Supply levels prove robust 70s Bcf…
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Natural Gas Futures Close to Unchanged Ahead of EIA Storage Report
With the market eyeing the upcoming release of government storage data, expected to reveal a surplus-shrinking spring injection, natural gas futures paused their recent downtrend in early trading Thursday. After finishing in the red for three straight sessions to open the week, the June Nymex contract was hovering close to even as of around 8:45…
Footing For Natural Gas Futures, Spot Prices Grows Increasingly Shaky Amid Feeble Demand Outlook
Natural gas futures floundered for a third consecutive session on Wednesday, dragged lower by weaker demand, rebounding production and expectations for robust storage injections. The June Nymex gas futures contract settled at $2.170/MMBtu on Wednesday, down 4.4 cents day/day. July declined 5.7 cents to $2.360. At A Glance: Prompt month sheds 4.4 cents Analysts see…
June Natural Gas Under Pressure Early as Traders Await Latest EIA Print
Natural gas futures were down slightly in early trading Thursday as the market awaited the latest round of government inventory data, expected to show a larger-than-average shoulder season build. The June Nymex contract was off 2.3 cents to $2.282/MMBtu at around 8:45 a.m. ET. As the May contract plunged 19.0 cents in its final day…
May Natural Gas Futures Falter Into Expiry, Cash Prices Cruise Lower
May natural gas futures stumbled into expiration Wednesday as production held strong, mostly benign weather prevailed in forecasts, and analysts looked for an injection that would sustain storage surpluses. At A Glance: Analysts see 70s Bcf storage injection Production holds strong into spring Demand mixed by region and light overall The May contract fell 19.0…
‘Near-Perfect’ Spring Temperatures Drive Natural Gas Futures Lower Ahead of Fresh EIA Storage Data
With some of the warmest weather of the past 40 years expected to continue for the next several days, natural gas futures struggled to find support and instead set their sights on the $2.00/MMBtu mark. After sliding to a $2.072 intraday low, the May Nymex natural gas futures contract settled Wednesday at $2.093, down 9.3…
Natural Gas Futures, Spot Prices Drop as April Weather Outlook Grows ‘Exceptionally Bearish’
Natural gas futures flipped lower Thursday, snapping a modest two-day winning streak after the latest government inventory data confirmed robust supplies heading into the shoulder season and forecasts pointed to benign weather through most of April. Cash prices slid in tandem. The May Nymex gas futures contract shed 14.4 cents day/day and settled at $2.011/MMBtu.…
May Natural Gas Eases Lower Ahead of Potential Surplus-Shrinking EIA Print
Natural gas futures were trading just shy of even early Thursday as mild April forecasts and a healthy storage cushion exiting the winter heating season kept the pressure on prices. The May Nymex contract was off 1.6 cents to $2.139/MMBtu at around 8:40 a.m. ET. The $2.197 high for May natural gas in Wednesday’s session…
Expiring April Natural Gas Futures Fall Below $2 as Downward Price Pressure Endures
The April Nymex natural gas futures contract floundered on its final day as the front month – a third consecutive loss – as the intersection of robust production and waning demand again captured traders’ attention. At A Glance: Production offsets LNG demand Analysts see 50s Bcf withdrawal May takes over as prompt month April futures…
Natural Gas Futures Pare Losses Early as EIA Storage Report Seen as ‘Inflection Point’
Ahead of a potentially surplus-shrinking weekly government inventory report, the first in weeks, natural gas futures pared their losses in early trading Thursday. Coming off a 17.7-cent sell-off in the previous session, the April Nymex contract was up 3.1 cents to $2.202/MMBtu at around 8:40 a.m. ET. The Energy Information Administration’s (EIA) latest weekly natural…