Natural gas futures found fresh footing Thursday, supported by a weekly storage report that slightly beat estimates and signs that the Freeport LNG export terminal may be preparing to restart its third train. At A Glance: Production falls to 100.8 Bcf/d Freeport power use hints at restart National Avg. rises 1.0 cent $1.145 The April…
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Natural Gas Futures Slide as Cash Prices at Three-Year Lows Outweigh CNX Output Cuts
Natural gas futures reversed early gains Tuesday as weaker physical prices squashed initial optimism from another producer curtailment to send the prompt contract to its fifth straight decline. At A Glance: CNX cuts 30 Bcf equivalent Two Freeport LNG trains offline National Avg. sinks to $1.285 The April Nymex contract settled at $1.714/MMBtu, down 4.5…
Threat of Early Season Storage Build Chases Natural Gas Futures, Cash Lower
Natural gas futures fell on Monday for a fourth session as the possibility of an early season storage build later this week outweighed cooler weather trends into late March. At A Glance: NGI models 3 Bcf withdrawal National Avg. notches new 2024 low West Texas cash prices flip negative The April Nymex contract settled at…
Natural Gas Futures, Cash Prices Lose Ground as Weather Demand Underwhelms
Natural gas futures floundered for a third day, closing down modestly Friday as mild March weather and growing storage surpluses kept bulls on the back foot. At A Glance: Nymex front-month falls for third day March forecasts point to cooldown Surpluses could grow to 650-700 Bcf The April Nymex contract settled at $1.805/MMBtu, down 1.3…
Jalisco Company Serving up Natural Gas to Tequila Industry With New Pipeline
The Tequila Valley Pipeline is soon to begin operations, allowing natural gas to reach tequila producers in Mexico’s Jalisco state, Rolando Martinez D’Meza Violante, Business Development Manager in Corporación CH4, told NGI’s Mexico GPI. “The fact that we were able to construct a natural gas pipeline is going to allow us to enter the big…
Mild March Weather Reigns as Natural Gas Futures Slightly Lower — MidDay Market Snapshot
Natural gas futures slightly lower through midday trading as underwhelming weather limiting upside April Nymex contract down 1.1 cents to $1.807/MMBtu as of 2:30 p.m. ET; May off 2.7 cents to $1.925 U.S. down four natural gas rigs, including three in Haynesville Shale, per latest Baker Hughes Co. count Production totaling 101.5 Bcf/d for Friday,…
April Natural Gas Futures Stumble for Second Day as EIA Print Fails to Impress
Natural gas futures traded lower Thursday after a meager storage result confirmed seasonally weak demand but no upside surprises for recent production cuts. The April Nymex gas futures contract settled at $1.818/MMBtu, down 11.1 cents day/day. NGI’s Spot Gas National Avg. fell 10.0 cents to $1.470 as prices fell across most regions. The warmest U.S.…
Mexico Natural Gas Market Undergoing Restructure Amid Sub-$2 Prices – Spotlight
North American natural gas prices got a bump earlier in the week when top U.S. producer EQT Corp. announced it was curtailing output, but the rally was short-lived. On Thursday, the New York Mercantile Exchange contract for April settled at $1.818/MMBtu, down 11.1 cents day/day. Mexico pipeline imports of natural gas for the 10-day period…
LNG Hopes Briefly Bump Natural Gas Futures Above $2 as Spot Prices Stay Flat
Natural gas futures spiked briefly above the $2.000/MMBtu level Tuesday after the Golden Pass Pipeline updated federal regulators on its progress, sending a signal that the export terminal is advancing. At A Glance: Nymex front month hits $2.009/MMBtu West Texas averages flip negative Mexico exports at around 6.3 Bcf/d That initial reaction was pared back,…
EQT’s Output Cuts Send Natural Gas Futures Up Toward $2 as Cash Lags Behind
Natural gas futures rallied on Monday after the largest U.S. natural gas producer announced it would cut 1 Bcf/d of output through the end of March, chopping into a supply glut caused by one of the mildest winters on record. At A Glance: EQT cuts March output by 1 Bcf/d Forecast one of warmest in…