Natural gas futures exploded early Monday as weather models shifted colder with a double whammy of bitter wintry weather expected to sweep across the Lower 48 later this month. While subsequent model runs sapped quite a bit of momentum, the January Nymex gas futures contract still settled 34.2 cents higher at $6.587/MMBtu. February futures jumped…
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Broad Cooling Trend In Play; June Called 3 Cents Higher
June natural gas is set to open 3 cents higher Monday morning at $3.31 as traders digest significantly cooler temperatures predicted for Northeast and Midwest energy markets. Overnight oil markets receded.
Industry Optimism Propelling U.S. Oil, NatGas Dealmaking, Says PwC
Dealmaking across the U.S. oil and natural gas sector, particularly in the onshore, has begun 2017 “with a green flag and a full tank of gas,” following a surge in activity during the fourth quarter, PwC researchers said Tuesday.
Next Move Is in Bulls Court; February Seen Flat
February natural gas is set to open unchanged Wednesday morning at $3.28 as traders adopt a “show me” approach to continued market gains. Overnight oil markets rose.
Ending Supply Outlook Not “Acceptable,” Consultant Says; September Called A Penny Higher
September natural gas is set to open a penny higher Thursday morning at $2.85 as traders mull a government inventory report that is expected to show the leanest increase in supplies in six years. Overnight oil markets were mixed.
Near-Term Weather Still A Force to Contend With; September Seen Up 4 Cents
September natural gas is expected to open 4 cents higher Wednesday morning at $2.77 as traders still have to deal with oppressive heat and humidity in many sections of the country and the technical picture remains unsettled. Overnight oil markets were mixed.
Weather Bulls Stirring; July Called 5 Cents Higher
July natural gas is expected to open 5 cents higher Monday morning at $2.67 as traders factor in extreme heat in Southern California and its likely impact on supply. Overnight oil markets gained.
Forecast Heat Not Leaving Anytime Soon; July Seen 5 Cents Higher
July natural gas is expected to open 5 cents higher Wednesday morning at $2.34 as traders attempt to digest a significant shift in medium-term weather patterns and cogitate on technical price objectives. Overnight oil markets fell.
Weather Models Struggling With El Nino; February Seen Flat
February natural gas is set to open unchanged Wednesday morning at $2.32 as traders prepare for an onslaught of cold air but at the same time try to discern any late-month El Nino-driven warming trends. Overnight oil markets plunged.
Swift Considering Finance Alternatives
Houston’s Swift Energy Co. said Tuesday it has retained Lazard Freres & Co. LLC to advise management and the board of directors regarding “capital structure, financing alternatives and related strategic opportunities.”