Forward Look

Natural Gas Forward Prices Starting to Crack, but Supply Concerns Still Festering

Natural Gas Forward Prices Starting to Crack, but Supply Concerns Still Festering

After four solid weeks of steep increases, natural gas forward prices buckled during the trading period ending Tuesday as the start of the fall season ushered in cooler weather and a decline in demand. October prices plunged an average of 54.0 cents from Sept. 16-21, while November tumbled 55.0 cents on average, according to NGI’s…

September 23, 2021
Markets ‘Very Nervous’ About Winter Natural Gas Price Surge

Markets ‘Very Nervous’ About Winter Natural Gas Price Surge

Colder than normal temperatures could trigger extreme upside volatility for natural gas prices this winter, according to industry experts. In a webinar Tuesday hosted by Refinitiv and NGI, a panel of experts said numerous factors have converged to create a far tighter market than what is normally seen at this time of year. “I traded…

September 22, 2021
Natural Gas Forward Prices Extend Rally; Cooler Outlook, Bearish Storage Starting to Ease Storage Worries

Natural Gas Forward Prices Extend Rally; Cooler Outlook, Bearish Storage Starting to Ease Storage Worries

Natural gas forward curves blew up for a fourth consecutive week during the trading period from Sept. 9-15 as lingering production outages continued to perpetuate supply concerns ahead of the peak winter season. October forward prices rallied by an average 47.0 cents, and November shot up 54.0 cents on average, according to NGI’s Forward Look.…

September 17, 2021
Aside from Appalachia and West Coast, Looser Balances See Natural Gas Forwards Tumble

Aside from Appalachia and West Coast, Looser Balances See Natural Gas Forwards Tumble

Loosening balances, evidenced by a weekly inventory build that overshot major surveys, accompanied declines in forward prices for most of the Lower 48 during the Aug. 12-18 trading period, NGI’s Forward Look data show. Nymex September futures experienced some up-and-down action, but on the whole lost ground during the Aug. 12-18 time frame, including a…

August 20, 2021
As Peak Summer Heat Passes, Natural Gas Forwards Slump

As Peak Summer Heat Passes, Natural Gas Forwards Slump

With the hottest temperatures of the summer expected to soon reside in the market’s rearview, natural gas forwards receded during the Aug. 5-11 trading week, including large markdowns in the western United States, NGI’s Forward Look data show. Discounts of around a dime or more in fixed price prompt-month forwards were the norm for most…

August 13, 2021
Stagnating Natural Gas Production a Boon to Northeast Forward Prices; Structural Drivers Behind Overall Rally

Stagnating Natural Gas Production a Boon to Northeast Forward Prices; Structural Drivers Behind Overall Rally

Natural gas forward markets rebounded sharply for the trading period ending Aug. 4 as widespread sweltering heat set to return sounded the alarm once again that U.S. storage inventories are on pace to fall uncomfortably short ahead of winter. September forward prices averaged 20.0 cents higher for the July 29-Aug. 4 period, according to NGI’s…

August 6, 2021
After Days-Long Rally, Natural Gas Forward Prices Retreat but Storage Concerns Simmering

After Days-Long Rally, Natural Gas Forward Prices Retreat but Storage Concerns Simmering

After a massive rise in the prior week, natural gas forwards softened a bit in the trading period ending July 7. Cooler weather and returning production contributed to a 7.0-cent decline in August prices, with small decreases extending through the remainder of summer (August-October), according to NGI’s Forward Look. Winter forward prices also fell, but…

July 9, 2021
Tight Supply, Demand Balance Pushes Natural Gas Forwards Higher

Tight Supply, Demand Balance Pushes Natural Gas Forwards Higher

Mirroring the recent bullish summer run for Henry Hub futures, natural gas forwards rose from coast-to-coast during the June 17-23 trading period. Indications of a tight supply/demand balance, coupled with an overall bullish temperature outlook, saw natural gas prices maintain their upward momentum. Spurred by a bullish surprise in the latest Energy Information Administration (EIA)…

June 25, 2021
Easing Premiums Out West an Exception as July Natural Gas Forwards Climb

Easing Premiums Out West an Exception as July Natural Gas Forwards Climb

Aside from moderating premiums in western markets, natural gas forwards marched higher during the June 10-16 trading period. Supply risks served to push July Nymex prices higher, while technical factors and a somewhat cooler look to the weather picture toward the back half of June helped limit gains. July fixed prices at Henry Hub surged…

June 18, 2021
Summer Heat, Appalachian Supply Concerns Fuel Natural Gas Forward Price Rally

Summer Heat, Appalachian Supply Concerns Fuel Natural Gas Forward Price Rally

Big basis moves in Appalachia and on the West Coast highlighted natural gas forwards trading during the June 3-9 period, while a sufficiently hot forecast helped propel a broader move higher for the Lower 48 overall, according to NGI’s Forward Look. Fixed prices for July delivery were higher week/week by around 10-15 cents at numerous…

June 11, 2021
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