Natural gas futures faltered on Monday, extending to three days a losing streak that materialized alongside forecasts for cooler temperatures and moderating demand. The October Nymex contract dropped 12.0 cents day/day and settled at $4.985/MMBtu. November fell 12.4 cents to $5.022. At A Glance: Futures fall amid autumn weather Forecasts call for mild conditions Global…
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Articles from futures
No End in Sight for Surging October Natural Gas Futures, Spot Prices
Natural gas futures on Wednesday rallied for a third consecutive session, again touching a new high for the year as traders fixated on potentially sparse supplies in the United States and Europe ahead of the peak winter demand season. At A Glance: Futures rally a third straight day Storage worries weigh on markets Cash prices…
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…
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…
Magellan, Enterprise and ICE to Launch Houston Oil Futures Contract
A new oil futures contract is coming to the Gulf Coast. Magellan Midstream Partners L.P., Enterprise Products Partners LP and Intercontinental Exchange Inc. (ICE) said Monday they would partner to create a contract for the physical delivery of crude in the Houston area. The companies said the Midland WTI American Gulf Coast contract (ICE: HOU)…
CME to Launch ‘Nature-Based’ Emissions Offset Futures Contract
CME Group said Monday it would launch an emissions offset futures contract sourced from agriculture, forestry and other land use projects in an ongoing effort aimed at helping the market better manage climate risk as the energy transition accelerates. CME said the Nature-Based Global Emissions Offset (N-GEO) contract would launch August 1, pending regulatory review.…
Expectations for Strong Demand Send July Natural Gas Futures Back Into Green
Natural gas futures tumbled early Wednesday, threatening a second day of losses, but prices rebounded in afternoon trading as new data showed production declined, exports climbed and weather forecasts pointed to strong cooling demand in the weeks ahead. The July Nymex contract settled at $3.251/MMBtu, up 1.1 cents day/day. It marked the sixth day of…
Hot Forecast Lifts Natural Gas Futures Another Notch Ahead of Expected Triple-Digit Storage Build
Natural gas futures edged up early Wednesday as traders mulled an increasingly hot June forecast against a projected hefty storage build. Though briefly moving into the red, the July Nymex gas futures contract settled Wednesday at $3.129, up a mere one-tenth of a cent on the day. August climbed four-tenths of a cent to $3.144.…
Sizzling June Forecast Boosts Natural Gas Forward Prices; LNG Key to Maintaining Momentum
Forecasts promising toasty temperatures during the second week of June prompted double-digit gains for natural gas forwards prices at numerous Lower 48 hubs during the trading week ended June 2, according to NGI’s Forward Look. A prominent increase in cooling demand expectations from forecasts over the Memorial Day weekend sent Nymex futures sharply higher in…
Natural Gas Futures Slip on Rebounding Supply, Weather Model Shifts; Cash Still Rocking
After a double-digit gain to start the week, natural gas futures retreated a bit Wednesday as a majority of the previously reported production decline recovered midweek. With traders eyeing another potential bearish storage injection, the July Nymex gas futures contract settled 2.9 cents lower at $3.075. August fell 3.2 cents to $3.094. Spot gas prices…