Natural gas prices for May shifted less than nickel at most market hubs between March 28 and 31 as mostly bearish weather on tap for the next couple of weeks and an in-line storage report left the market relatively idle, according to NGI’s Forward Look.
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Natural gas forward prices for April were down an average of 12 cents between March 18 and March 24 as swelling storage inventories and forecasts for mostly mild weather pressured markets, NGI Forward Look data shows.
Natural gas forwards markets fell an average of 13 cents for April as market players brushed off a surprise storage report and remained fixated on forecasts showing mild conditions over much of the country during the next two weeks, according to NGI’s Forward Look.
A springlike forecast for the next couple of weeks and a very bearish storage report sent natural gas forward prices even lower during the period Feb. 19 and 25, NGI’s Forward Lookdata shows.
It’s going to take some significant heating demand or bullish storage news to end the slide natural gas forwards prices have been on, but this wasn’t the week that was going to happen.
Uncertainty in long-term weather forecasts, ample supplies and near-record production in the Northeast sent natural gas forwards markets in that region down more than double most other markets for the period between Jan. 29 and Feb. 4, NGI Forward Look data shows.
March natural gas prices climbed as much as 5 cents during the last week of January as storage news and weather forecasts provided a double dose of support for markets, NGI’s Forward Lookdata shows.
Environmental groups, the Edison Electric Institute and large natural gas end-users were quick to commend the Senate’s confirmation Thursday of Gina McCarthy as head the Environmental Protection Agency (EPA), but oil and natural gas companies were apparently following the rule, “if you can’t say anything nice, don’t say anything at all.”
Magnum Hunter Resources Corp. is planning to build production through the rest of this year from its substantial asset base in the Appalachian Basin after being knocked back early this year from a lack of pipeline capacity for natural gas liquids (NGL), CEO Gary Evans said Tuesday.
A panel of marketing representatives for several industrial giants was convened in mid-May by the Wyoming Infrastructure Authority (WIA) to look at how quick-start natural gas-fired generation can mitigate the increased variability on the electric grid due to increased wind and solar-based power supplies.