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…
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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…
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…
As Permian Natural Gas Moves East, Blackfin Looking to Debottleneck Katy, HSC Hubs
A proposed Texas intrastate extension of the Matterhorn Express Pipeline could help preserve stronger pricing at the Katy and Houston Ship Channel (HSC) benchmarks as more natural gas volumes flow from the Permian Basin, according to analysts. Recent filings with the Railroad Commission of Texas outlined plans for the 193-mile Blackfin Pipeline, which would stretch…
Extended Rout Drives Natural Gas Futures Down Near $3; Spot Prices Drop
Natural gas futures, which only last month traded around $6/MMBtu, have steadily lost ground in the new year amid seasonally mild weather and closed near the $3 level on Wednesday. It marked the lowest front-month settlement since 2021. At A Glance: Prompt month falls 19 cents Supplies strong relative to demand Analysts expect bearish storage…
Natural Gas Futures Extend Rally as Wintry Weather Nears; Spot Prices Surge
Natural gas futures flew higher on Monday, bolstered by forecasts for substantially colder weather and stronger heating demand. The December Nymex contract gained 54.4 cents day/day to settle at $6.944/MMBtu, adding to a 42.5 cent rally in Friday’s session. January climbed 49.0 cents to $7.244. At A Glance: Forecasts add ‘hefty’ dose of demand Potential…
Natural Gas Forwards Rally Continues, but ‘Feast or Famine’ Open May Lie Ahead
Natural gas forward prices made huge leaps during the period ending May 4 as production struggled to grow beyond recent levels and heat began to intensify in parts of the country. With hefty storage deficits poised to hold steady for a while longer, June fixed prices rallied by an average $1.57/MMBtu, according to NGI’s Forward…
October Natural Gas Futures Drop a Third Straight Day on Fading Demand Forecasts
Natural gas futures faltered on Monday, extending to three days a losing streak that materialized alongside forecasts for cooler temperatures and moderating demand. The October Nymex contract dropped 12.0 cents day/day and settled at $4.985/MMBtu. November fell 12.4 cents to $5.022. At A Glance: Futures fall amid autumn weather Forecasts call for mild conditions Global…
Fire Erupts at ExxonMobil Olefins Complex on Houston Ship Channel
Emergency crews on Wednesday afternoon were working to extinguish a fire that erupted at the ExxonMobil Baytown Olefins Plant on the Houston Ship Channel, which houses one of the largest ethylene plants in the world.
Enterprise Snaps Up Houston Ship Channel Site to Propel Global NGL Expansion
Enterprise Products Partners LP (EPD) late Wednesday said it purchased a 65-acre waterfront site on the Houston Ship Channel to serve as the next phase of expansion at its hydrocarbon terminal.