Surging production and new takeaway capacity paved a path for record-high natural gas supplies flowing from the prolific Permian Basin. A 550 MMcf/d expansion of Kinder Morgan Inc.’s (KMI) Permian Highway Pipeline (PHP) entered service at the start of this month and amplified Whistler Pipeline LLC’s recently completed 500 MMcf/d expansion in the Permian. “Permian…
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January Natural Gas Retraces Early Sharper Gains To Settle Modestly Higher
Nymex January natural gas futures settled Tuesday up 1.6 cents at $2.710/MMBtu in a day of profit-taking following the prior day’s 12.0-cent rout on the back of weak fundamental support. At A Glance: Profit-taking drives early gains Weather forecasts “less bearish” Chill, pipeline constraints support cash The front-month contract drifted to a $2.675 intraday low.…
Natural Gas Futures Stumble as Forecasts Walk Back Some Demand; Cash Jumps on Permian Supply Cuts
Natural gas futures failed to sustain Monday’s momentum and finished lower Tuesday after weather forecasts took back some of the latest modeled demand boon for later this month. The December Nymex natural gas futures contract fell 9.1 cents day/day to settle at $3.092/MMBtu. January shed 8.4 cents to end at $3.303. At A Glance: Prompt…
Natural Gas Futures, Cash Prices Fall Again As Warm Weather Douses Demand; SoCal Citygate Swings
Natural gas futures stumbled for a second session Tuesday as warm November forecasts kept hopes of higher winter heating demand at bay. The December Nymex natural gas futures contract fell 12.4 cents day/day to settle at $3.140/MMBtu. January fell 10.1 cents to $3.463. At A Glance: Prompt month sheds 12.4 cents Cash prices slide for…
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…
Supply/Demand Balancing Drives Convergence Between Texas, Henry Hub Natural Gas Prices
Natural gas basis price differentials at the Waha and Houston Ship Channel (HSC) hubs in Texas narrowed substantially in the first half of this year versus the second half of 2022, according to an Energy Information Administration (EIA) analysis citing NGI data. The return to service of both Freeport LNG and the El Paso Natural…
Natural Gas Futures Prices Still Sluggish, but Eke Out Modest Gain
Trading action along the Nymex natural gas futures curve was like watching paint dry on Monday, with the prompt month swinging in a tight range given no major changes to fundamentals. The September Nymex gas futures contract settled at $2.795/MMBtu, up 2.5 cents from Friday’s close. October futures tacked on 1.6 cents to $2.898. At…
Natural Gas Futures Forge Ahead Amid Production Hits, Forecasts for Heat; Spot Prices Rise
Natural gas futures rallied for a fourth straight session on Wednesday, supported by waning production and forecasts for intensifying heat in the second half of this month. The July Nymex gas futures contract gained 6.7 cents day/day and closed at $2.329/MMBtu. August rose 5.2 cents to $2.433. At A Glance: Market sees triple-digit injection Projects…
Natural Gas Futures, Cash Prices Retreat as Production Recovers, Demand Tapers
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…
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…