Midwest

Natural Gas Futures, Spot Prices Relaunch Bull Parade as Summer Heat Nears

Natural Gas Futures, Spot Prices Relaunch Bull Parade as Summer Heat Nears

Natural gas futures rallied anew on Monday against a backdrop of looming summer weather, lighter production and an improving storage situation. At A Glance: Temperatures mount in South Production around 98 Bcf/d NGI models 75 Bcf injection After gaining 5% last week – despite a drop Friday – the June Nymex gas futures contract on…

May 13, 2024
Midwest Natural Gas Supply Glut May Fester, Hamper Prices Amid Mild Weather Outlook

Midwest Natural Gas Supply Glut May Fester, Hamper Prices Amid Mild Weather Outlook

Natural gas stored underground in the Midwest finished winter far above historical norms, reflecting strong production and unusually weak weather-driven heating demand. Spot gas prices have struggled to find momentum as a result. Chicago Citygate prices hovered around $1.500/MMBtu over the past week, roughly in line with NGI’s Spot Gas National Avg., but down about…

March 25, 2024
Modest Gains for Natural Gas Futures Ahead of President’s Day Weekend — Midday Market Snapshot

Modest Gains for Natural Gas Futures Ahead of President’s Day Weekend — Midday Market Snapshot

Natural gas futures essentially treading water as bearish week of trading draws to close After starting week around $1.800/MMBtu, March Nymex contract trading at $1.610 as of 2:25 p.m. ET, up 2.9 cents Gelber & Associates analysts see “relatively little volatility and market participation” ahead of President’s Day weekend, as “traders have likely squared away…

February 16, 2024
Minnesota Setting Course to Carbon-Free Emissions by 2040

Minnesota Setting Course to Carbon-Free Emissions by 2040

Gov. Tim Walz of Minnesota’s Democratic-Farmer-Labor Party has signed into law clean energy goals that target a carbon-free electricity grid by 2040.  State House File 7 (HF7) amended Minnesota’s Renewable Energy Standard statute. It added a target for electric utilities, generation and transmission cooperatives, and municipal power agencies to generate or procure by 2035 at…

February 13, 2023
Seven Midwest States Collaborating to Vie for Hydrogen Hub to Create Jobs, Lower Emissions 

Seven Midwest States Collaborating to Vie for Hydrogen Hub to Create Jobs, Lower Emissions 

A coalition of seven Midwest states plan to compete for a hydrogen hub designed to expand local economies, decrease emissions and reduce costs. The Midwest Hydrogen Coalition (M-H2) was formalized last week by the governors of Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio and Wisconsin. The aim is to snag a share of an $8 billion…

September 26, 2022
Natural Gas Futures Open 2022 Higher as LNG Strength Outshines Mixed Weather Outlook

Natural Gas Futures Open 2022 Higher as LNG Strength Outshines Mixed Weather Outlook

Natural gas prices hovered in a narrow range of modest gains and losses early Monday before creeping upward and ultimately finishing comfortably in positive territory, as traders assessed a bearish tilt in the weather outlook against strong demand prospects for U.S. liquefied natural gas (LNG) exports. The February Nymex gas futures contract settled at $3.815,…

January 3, 2022
Natural Gas Futures Open Week Sharply Higher, but Fail to Maintain $6 Handle

Natural Gas Futures Open Week Sharply Higher, but Fail to Maintain $6 Handle

Natural gas futures traded above $6.000/MMBtu to start the week as global supply concerns continued to infiltrate the U.S. gas market. With domestic gas demand at a seasonal low, however, early gains were pared and the November Nymex gas futures contract settled at $5.766, still up a significant 14.7 cents from Friday’s close. Spot gas…

October 4, 2021
Spire’s Natural Gas Pipeline Secures FERC Certificate to Keep Operating — For Now

Spire’s Natural Gas Pipeline Secures FERC Certificate to Keep Operating — For Now

FERC on Tuesday issued a temporary certificate of public convenience and necessity to Spire STL Pipeline LLC, keeping the 65-mile, 400,000 Dth/d Midwest natural gas conduit in service for now following a court order vacating the project’s federal authorization. Three of the four sitting members of the Federal Energy Regulatory Commission opted to support the…

September 14, 2021
Natural Gas Forward Prices Explode as Ida Adds to ‘Precarious’ Storage Outlook

Natural Gas Forward Prices Explode as Ida Adds to ‘Precarious’ Storage Outlook

Though long gone from the Gulf Coast, Hurricane Ida’s devastation continued across the eastern United States ahead of the Labor Day weekend, wiping out significant production and causing widespread power outages along the way. Supply’s slow expected recovery fueled bullish momentum across natural gas forward curves for the trading period ending Sept. 1, resulting in…

September 3, 2021
Cooler Weather Forecast, Persistently Softer LNG Volumes Send Natural Gas Futures Prices Tumbling

Cooler Weather Forecast, Persistently Softer LNG Volumes Send Natural Gas Futures Prices Tumbling

After another run toward $4.200/MMBtu last week, natural gas futures took a nosedive on Monday as long-range weather forecasts continued to cool while liquefied natural gas (LNG) demand remained well off recent highs. The September Nymex gas futures contract settled at $4.060, off 8.0 cents from Friday’s close. October dropped 7.9 cents to $4.075. Spot…

August 9, 2021
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