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Ahead of May Expiry, Natural Gas Futures Faltering as Storage Surplus Grows

Ahead of May Expiry, Natural Gas Futures Faltering as Storage Surplus Grows

As traders contemplated a swelling storage surplus amid mild springtime temperatures, natural gas futures were down sharply ahead of the front month expiration Friday. With volume thin in its final day of trading, the May Nymex contract was off 9.9 cents to $1.539/MMBtu as of 8:35 a.m. ET. June was trading 5.5 cents lower at…

April 26, 2024
Natural Gas Futures Steady Following Midweek Swoon — MidDay Market Snapshot

Natural Gas Futures Steady Following Midweek Swoon — MidDay Market Snapshot

After a midweek nosedive, natural gas futures hovered close to even through midday trading Thursday, largely weathering the bearish impact of a high-side injection miss in the latest U.S. Energy Information Administration (EIA) storage data. Here’s the latest: Soon-to-expire May Nymex futures down 2.2 cents to $1.631/MMBtu at around 2:10 p.m. ET Henry Hub spot…

April 25, 2024
Premium Too High for Customers Requesting Renewable Fuels, Natural Gas Suppliers Say  

Premium Too High for Customers Requesting Renewable Fuels, Natural Gas Suppliers Say  

Natural gas end users are increasingly focused on sustainability and have shown a keen interest in the availability of low carbon fuel options. Still, the question often arises – are they willing to pay a premium? At the recent LDC Gas Forums Southeast in Ponte Vedra Beach, FL, executives of local distribution companies and natural…

April 25, 2024
Natural Gas Futures Extend Slide Ahead of Potentially Plump Injection

Natural Gas Futures Extend Slide Ahead of Potentially Plump Injection

After selling off sharply in the previous session, natural gas futures remained under pressure early Thursday as traders prepared to digest a potential surplus-expanding government inventory report.  The May Nymex contract was off 0.4 cents to $1.649/MMBtu at around 8:30 a.m. ET. June was down 2.6 cents to $1.953. The market early Thursday was expecting…

April 25, 2024
Natural Gas Futures Pull Back Early as Market Continues to Mull Mild Temps, Weak Production

Natural Gas Futures Pull Back Early as Market Continues to Mull Mild Temps, Weak Production

After advancing over the previous two sessions, natural gas futures pulled back in early trading Wednesday as mild shoulder season weather continued to dampen the outlook despite continued production restraint. The May Nymex contract, set to expire later this week, was down 5.3 cents to $1.759/MMBtu at around 8:45 a.m. ET. June was down to…

April 24, 2024
Planning Said Essential for Natural Gas Utilities Lacking Pipeline Capacity to Move Supply to Market

Planning Said Essential for Natural Gas Utilities Lacking Pipeline Capacity to Move Supply to Market

In a natural gas market where abundant supplies and a lack of demand have depressed prices, the scarcity of pipeline capacity has added to the complexity for buyers who must ensure daily deliverability to customers, a panel of executives said recently. “When you talk about supply and demand in pricing, I have been in the…

April 23, 2024
May Natural Gas Futures Slightly Lower as Mild Forecast Pressures Prices

May Natural Gas Futures Slightly Lower as Mild Forecast Pressures Prices

With the market continuing to balance near-term oversupply against longer term bullishness, natural gas futures moved slightly lower at the front of the curve in early trading Tuesday. The May Nymex contract was down 1.7 cents to $1.774/MMBtu at around 8:45 a.m. ET. June was off 1.7 cents to $2.048. A recently updated outlook from…

April 23, 2024
May Natural Gas Called Slightly Higher as Traders Eye Production, Cool Temps

May Natural Gas Called Slightly Higher as Traders Eye Production, Cool Temps

Natural gas futures nudged higher early Monday as near-term heating demand and soft springtime production offered support for prices. The May Nymex contract was up 2.1 cents to $1.773/MMBtu at around 8:45 a.m. ET. June was up 2.5 cents to $2.013. Updated estimates Monday showed domestic production remaining steady at sub-100 Bcf/d levels.  Bloomberg data…

April 22, 2024
Slight Pullback for Natural Gas Futures Early as Shoulder Season Balances in Focus

Slight Pullback for Natural Gas Futures Early as Shoulder Season Balances in Focus

Natural gas futures eased lower at the front of the curve early Friday as the market continued to assess balances following updated storage data that landed in line with expectations. The May Nymex contract was down 2.6 cents to $1.731/MMBtu at around 8:30 a.m. ET. The U.S. Energy Information Administration (EIA) on Thursday reported a…

April 19, 2024
Heavy Supply Overhang, Enduring West Texas Price Pressure Weigh Down Natural Gas Forwards

Heavy Supply Overhang, Enduring West Texas Price Pressure Weigh Down Natural Gas Forwards

Lofty levels of natural gas in storage and a severe Permian Basin supply glut continued to cloud the outlook for prices. Natural gas forward prices fell in every region during the April 11-17 trading period, NGI’s Forward Look data show. Levels remained well below the $2.00/MMBtu level across the Lower 48, with exceptionally weak West…

April 18, 2024
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