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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
With Production Lower, Natural Gas Futures Climb Ahead of EIA Storage Print

With Production Lower, Natural Gas Futures Climb Ahead of EIA Storage Print

Natural gas futures hovered in positive territory early Thursday as traders assessed a mixed weather outlook against continued lighter production readings while they awaited the latest government inventory data. Following a 2.0-cent loss Wednesday, the May Nymex contract was up 5.0 cents to $1.762/MMBtu at around 8:40 a.m. ET. The federal storage report is slated…

April 18, 2024
Natural Gas Futures Retreat as TC Energy Limits Effects of Western Canada Pipeline Rupture

Natural Gas Futures Retreat as TC Energy Limits Effects of Western Canada Pipeline Rupture

Natural gas futures gave back some of Tuesday’s gains Wednesday after TC Energy Corp. said it was able to isolate the impacts of a rupture of its Nova Gas Transmission Ltd. (NGTL) pipeline in Western Canada. At A Glance: NGTL incident is contained Analysts expect moderate injection Production at 98.4 Bcf/d Futures jumped more than…

April 17, 2024
Natural Gas Futures Return Gains as TC Energy Isolates NGTL Rupture in Western Canada

Natural Gas Futures Return Gains as TC Energy Isolates NGTL Rupture in Western Canada

Natural gas futures declined in early trading Wednesday, giving back the gains recorded after an incident on the Nova Gas Transmission Ltd. (NGTL) in Alberta rattled markets and briefly sent prices soaring. The May Nymex contract was down 5.5 cents to $1.677/MMBtu at around 8:40 a.m. ET. Operator TC Energy Corp. on Tuesday said it…

April 17, 2024
Natural Gas Futures Higher After Late Jump; Modest Cash Gains — MidDay Market Snapshot

Natural Gas Futures Higher After Late Jump; Modest Cash Gains — MidDay Market Snapshot

Natural gas futures were headed for another daily decline through midday trading Tuesday before a sudden burst higher around 2 p.m. ET threatened to give market onlookers whiplash. Cash prices for the most part were advancing modestly off recent lows. Here’s the latest: May Nymex futures at $1.722/MMBtu as of 2:14 p.m. ET, up 3.1…

April 16, 2024
Energy Executives See Sub-$3 U.S. Natural Gas Prices Persisting Amid Supply Glut 

Energy Executives See Sub-$3 U.S. Natural Gas Prices Persisting Amid Supply Glut 

Oil and natural gas executives in the Midcontinent and Rocky Mountain regions don’t expect Henry Hub natural gas prices to surpass $3/MMBtu for another two years, according to the first quarter 2024 energy survey published by the Federal Reserve Bank of Kansas City. The survey gauges current and expected oil and gas activity levels in…

April 16, 2024
Natural Gas Futures Steady Early as Market Mulls Sagging Production, LNG Numbers

Natural Gas Futures Steady Early as Market Mulls Sagging Production, LNG Numbers

After tumbling in the previous session, natural gas futures held steady in early trading Tuesday as the market continued to assess apparent weakness in both export and production volumes. The May Nymex contract was trading fractionally lower at $1.690/MMBtu at around 8:45 a.m. ET. The latest daily production estimates from Wood Mackenzie showed domestic output…

April 16, 2024