Houston Ship Channel

December Natural Gas Futures Gain On Storage Result, Weather; Cash Mixed

December Natural Gas Futures Gain On Storage Result, Weather; Cash Mixed

Nymex December natural gas futures settled higher on the final trade day in the truncated Thanksgiving holiday workweek, supported by a surprise withdrawal from inventories and approaching cold weather. At A Glance: EIA prints 7 Bcf storage draw Warming follows near-term cold Thanksgiving holiday limits cash The front-month contract settled Wednesday at $2.897/MMBtu, which was…

November 22, 2023
Natural Gas Futures Prices Flip Lower Following Signs of Strong Supply, Benign Weather Forecasts

Natural Gas Futures Prices Flip Lower Following Signs of Strong Supply, Benign Weather Forecasts

Natural gas futures snapped a two-day rally with a sharp drop on Wednesday as markets shifted focus to mild weather and persistently strong production. The October Nymex gas futures contract settled at $2.733/MMBtu, down 11.5 cents day/day. November fell 10.5 cents to $2.921. At A Glance: 60s Bcf injection projected Weather demand fades Output holds…

September 20, 2023
Natural Gas Futures, Cash Prices Falter as Autumn Nears, Hurricane Chills Approach East Coast

Natural Gas Futures, Cash Prices Falter as Autumn Nears, Hurricane Chills Approach East Coast

Prompt-month natural gas futures fell for the first time in five sessions amid export uncertainty, cooling weather and the specter of hurricane conditions dropping temperatures further on the East Coast. At A Glance: Front month loses 6.3 cents Hurricane Lee approaches U.S. Production remains off slightly The October Nymex natural gas futures contract on Wednesday…

September 13, 2023
Natural Gas Futures Falter Again, Dragged Lower by Looming Cooldown; Cash Prices Creep Up

Natural Gas Futures Falter Again, Dragged Lower by Looming Cooldown; Cash Prices Creep Up

Natural gas futures on Wednesday picked up where they left off the prior session – mired in the red as traders braced for autumn weather and lighter demand. At A Glance: Prompt month sheds 7.2 cents Northeast production slips Market sees 40s Bcf injection Following an 18.3-cent drop a day earlier, the October Nymex gas…

September 6, 2023
Texas Oil and Gas Jobs, Wages Soar in 1Q Ahead of Rig Count, Price Declines

Texas Oil and Gas Jobs, Wages Soar in 1Q Ahead of Rig Count, Price Declines

Employment and wages in Texas’ natural gas and oil industry continued to surge upward in the first quarter, according to new analysis by the Texas Oil and Gas Association (TXOGA). Direct employment in the industry rose 8.1% year/year to 482,557 jobs, according to the TXOGA report based on U.S. Census Bureau and Texas Workforce Commission…

August 30, 2023
Supply/Demand Balancing Drives Convergence Between Texas, Henry Hub Natural Gas Prices

Supply/Demand Balancing Drives Convergence Between Texas, Henry Hub Natural Gas Prices

Natural gas basis price differentials at the Waha and Houston Ship Channel (HSC) hubs in Texas narrowed substantially in the first half of this year versus the second half of 2022, according to an Energy Information Administration (EIA) analysis citing NGI data. The return to service of both Freeport LNG and the El Paso Natural…

August 23, 2023
Toasty Texas Temps Propel Natural Gas Forward Gains

Toasty Texas Temps Propel Natural Gas Forward Gains

Sustained sweltering heat over Texas helped stir bullish sentiment, promoting broad-based gains for regional natural gas forwards during the June 15-21 trading period, NGI’s Forward Look data show. As the Lone Star State heat wave firmed up the cooling demand outlook just in time for the official start of summer, July fixed prices at benchmark…

June 23, 2023
Sweltering Heat Boosts West Texas Natural Gas Forwards, with LNG Keeping Pressure On Prices

Sweltering Heat Boosts West Texas Natural Gas Forwards, with LNG Keeping Pressure On Prices

U.S. natural gas markets failed to sustain much momentum across the forward curve during the June 8-14 trading period, with July prices averaging 2.0 cents lower as widespread heat has yet to materialize, according to NGI’s Forward Look. With plump production figures still coming out and storage inventories sitting above average levels, similarly small price…

June 16, 2023
Bearish Storage Print Sends Already Battered Natural Gas Futures Reeling; Spot Prices Slide

Bearish Storage Print Sends Already Battered Natural Gas Futures Reeling; Spot Prices Slide

Natural gas futures faltered on Thursday, driven lower by a robust inventory injection that reflected strong production and anemic demand. The July Nymex gas futures contract, which has lost ground each day this week, dropped 10.8 cents day/day and settled at $2.158/MMBtu.. August lost 8.5 cents to $2.273. At A Glance: EIA posts 110 Bcf…

June 1, 2023
Natural Gas Futures, Cash Prices Retreat as Production Recovers, Demand Tapers

Natural Gas Futures, Cash Prices Retreat as Production Recovers, Demand Tapers

Natural gas futures snapped a three-day winning streak on Wednesday, giving up ground amid strengthening production, fading demand and weakness in cash markets. The June Nymex gas futures contract lost 7.6 cents day/day and settled at $2.191/MMBtu. July fell 9.1 cents to $2.336. At A Glance: Demand remains moderate Supply levels prove robust 70s Bcf…

May 10, 2023
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