Market

The outlook for liquefied natural gas (LNG) deteriorated on Monday, as the coronavirus continued to impact deliveries to China following a week in which the country’s largest importer declared force majeure and sent a bearish signal to an already oversupplied global market.

In a fitting end to an exceptionally bearish month of trading, February natural gas futures dropped more than a nickel into expiry Wednesday as forecasts offered little to inspire bulls. The February Nymex contract rolled off the board at $1.877/MMBtu, off 5.7 cents on the day. March settled at $1.865, down 4.3 cents.

In a fitting end to an exceptionally bearish month of trading, February natural gas futures dropped more than a nickel into expiry Wednesday as forecasts offered little to inspire bulls. The February Nymex contract rolled off the board at $1.877/MMBtu, off 5.7 cents on the day. March settled at $1.865, down 4.3 cents.

After dropping to four-year lows this week, natural gas futures rebounded modestly Wednesday amid little change in the weather outlook. The February Nymex contract inched 1.0 cent higher to settle at $1.905/MMBtu after trading as high as $1.942. March settled at $1.900, up 1.1 cents.

After dropping to four-year lows this week, natural gas futures rebounded modestly Wednesday amid little change in the weather outlook. The February Nymex contract inched 1.0 cent higher to settle at $1.905/MMBtu after trading as high as $1.942. March settled at $1.900, up 1.1 cents.

With late-January cold looking weaker than previously expected, and with government storage data likely to turn up another underwhelming storage withdrawal, natural gas futures sold off sharply Wednesday. The February Nymex contract went as low as $2.104/MMBtu before settling at $2.120, down 6.7 cents. March fell 6.8 cents to $2.083.

Apparently not impressed by forecasts showing a shift to colder temperatures starting next week, natural gas traders sent futures prices a few pennies lower Monday. After trading as high as $2.226/MMBtu and as low as $2.163, the February Nymex contract settled at $2.182, off 2.0 cents. March slid 1.0 cent to $2.158.

A seemingly unwavering warmer-than-normal pattern through the first half of January continued to pressure natural gas futures lower as traders returned to their desks to kick off 2020. The February Nymex contract slid 6.7 cents to settle at $2.122/MMBtu Thursday, near the session’s low of $2.116. March settled at $2.093, down 6.5 cents.

Heading into an abbreviated week ahead of the Thanksgiving holiday, FERC last Thursday approved a suite of liquefied natural gas (LNG) projects along the Gulf Coast, clearing second wave export terminals to advance and green lighting expansions at existing facilities.