Record-high natural gas production growth will keep a lid on prices this year, with 2018 Henry Hub prices now expected to average $2.96/MMBtu, but upward pressure will push average prices to $3.10/MMBtu in 2019, according to the Energy Information Administration (EIA).
Articles from July
August natural gas futures were set to open Tuesday about 2.2 cents higher at around $2.782/MMBtu, bouncing off of support around $2.75 even as forecasters noted slightly cooler trends overnight in the major weather models.
August natural gas futures were set to open Thursday about a penny higher at around $2.880/MMBtu as forecasters over the Independence Day holiday noted warmer changes to the outlook for mid-July.
The expiring July natural gas contract was set to open Wednesday about 4.8 cents higher at around $2.987/MMBtu as overnight guidance was mixed but with one of the major weather models showing greater cooling demand over the eastern and central United States next month.
July natural gas prices were set to open a few pennies higher Thursday at $2.994 as weather models continue to intensify heat forecast for the end of June and early July.
July natural gas prices were set to open Wednesday about 3 cents higher at $2.931 amid small increases in cooling demand in the near term and sustained strong demand expected to end June and bring in July.
July natural gas prices were set to open sharply higher at $2.948, up 5.8 cents, as the latest weather models indicated a ridge that was expected to dissipate now likely to saturate the middle of the country through the early part of the third week of June.
Nymex July natural gas was set to open more than a penny lower at $2.87 as additional cooling showed up in overnight weather forecasts for the second half of June.
July natural gas is set to open a penny higher Tuesday morning at $3.04 as traders note consistently warm temperature forecasts and a new technical paradigm. Overnight oil markets advanced.
July natural gas is set to open a penny higher Tuesday morning at $2.90 as traders digest further deterioration in the weather outlook and mull Thursday inventory figures. Overnight oil markets plunged.