Seven proved to be the natural gas market’s lucky number on Wednesday. Nymex futures managed to overcome an early decline and extended their streak of consecutive gains another day. The August Nymex futures contract settled 2.0 cents higher day/day at $3.650. September edged up 1.8 cents to $3.624. Spot gas prices, however, buckled across the…
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Natural Gas Futures Dive Lower as Demand Becoming More Difficult to Gauge
Natural gas futures gave up ground on Tuesday as markets weighed a mixed weather outlook and new data pointing to both increased production and demand for U.S. liquefied natural gas (LNG) as the industry recovers from the impacts of Hurricane Laura. The October Nymex contract settled at $2.400/MMBtu, down 18.8 cents day/day. November declined 9.5…
Nearly In-Line Storage Injection Nudges July Natural Gas Futures Higher
The U.S. Energy Information Administration (EIA) reported an injection of 45 Bcf into storage for the week ending July 10, a print that reflected intense heat and robust cooling demand. The result pushed up Nymex natural gas futures, though early gains were modest amid lingering concerns about weak liquefied natural gas (LNG) demand. The build…
Below-Average Storage Injection Fails to Lift August Natural Gas Futures
A slightly bullish storage print and ongoing expectations for strong cooling demand proved too little to offset skepticism about excess supply, export weakness and ongoing fallout from the coronavirus pandemic. The August Nymex contract lost 4.5 cents day/day and settled at $1.779/MMBtu on Thursday. September fell 5.5 cents to $1.821. Boosted by waves of summer…
Nearly In-Line Storage Injection a Drag on August Natural Gas Futures
The U.S. Energy Information Administration (EIA) reported an injection of 56 Bcf into natural gas storage for the week ending July 3, coming in slightly below average estimates and nudging Nymex natural gas futures lower. Analysts said the latest injection signals that demand, boosted by scorching summer heat that is driving energy use for cooling,…
Sizzling Summer Heat Drives Surge in August Natural Gas Futures
Despite signs of increased production and decreased liquefied natural gas levels, natural gas futures surged Monday Forecasts continued to put the current month on pace to challenge 2011 and 2012 as the hottest July on record Spot prices surged across the Lower 48 Despite signs of increased production and decreased liquefied natural gas (LNG) demand…
August Natural Gas Futures Maintain Momentum as Forecasts Trend Even Hotter
Natural gas futures posted another solid advance Tuesday as optimism intensified that summer heat will drive strong energy demand and support prices. The August Nymex contract rose 4.2 cents day/day and settled at $1.751/MMBtu. A day earlier the prompt month surged 16.5 cents. September climbed 3.5 cents to $1.789. NGI’s Spot Gas National Avg. was…
NGI The Weekly Gas Market Report
U.S. NatGas Bulls’ Hopes Rest on LNG as Heatwave Hits Europe
Summer is here, both for the United States and especially across the pond in sweltering Europe, but it might not be enough to rescue oversupplied natural gas markets, either at home or abroad.
‘Last Hurrah’ for Summer Heat Forecast as September Natural Gas Called Lower
September natural gas opened Tuesday about 0.9 cents lower at around $2.867/MMBtu as forecasts overnight continued to show what could be the last real heat of summer waning by the end of next week. The October contract was set to open 1.2 cents lower at around $2.857.
August Natural Gas Rallies into Expiry on Storage, Heat
The front month natural gas futures contract rallied ahead of expiration Friday, with potential August heat and a tight storage picture offering support in a market still heavily weighed down by production. In the spot market, most regions posted discounts on three-day deals, including in the sweltering California and Desert Southwest; the NGI National Spot Gas Average dropped 21 cents to $2.70/MMBtu.