North American natural gas prices have been hammered for the past two weeks, and despite a minor rally, remain well below the $2.00 mark. The March New York Mercantile Exchange gas futures contract on Thursday settled at $1.732/MMBtu, down 4.1 cents day/day. Prices had jumped on Wednesday after Chesapeake Energy Corp. said it intended to…
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Natural Gas Futures, Cash Prices Renew Downward Slide Monday Amid Weak Demand
With production strong and demand fading, natural gas futures fell prey to price bears once again. At A Glance: NGI models 65 Bcf draw Benign weather in cards Production at 104 Bcf/d Coming off a 2.8-cent gain on Friday – but eight straight losses prior to that – the March Nymex gas futures contract settled…
Natural Gas Futures Inch Up Amid Evolving Weather Patterns; Cash Gains with Storms
March Nymex natural gas futures ended nearly unchanged on the plus side in the week’s opening session as the market locked onto near-term weather forecasts for mild conditions ahead of an expected blast of mid-February cold. At A Glance: Futures flat Supply worries Spot gas up The front-month contract settled at $2.082/MMBtu, less than 1.0…
Natural Gas Futures Edge Higher With Eyes On Late-February Weather Shift; Cash Sinks
March Nymex natural gas futures settled the week’s closing session up 2.9 cents as the market looked beyond near-term warmth toward a colder end to February with buying possibly triggered by short covering and bargain hunting at current lows. At A Glance: Futures gain on possible cold Upside support limited by production Cash down with…
Natural Gas Futures Sink on Storage Draw and Mild Weather; Cash Gains
March Nymex natural gas futures settled the Thursday regular trading session down 5.0 cents day/day, turning negative after the U.S. Energy Information Administration (EIA) reported a storage withdrawal that was within market expectations. At A Glance: 197 Bcf storage draw meets expectations Neat-term warmth pressures Spot gas prices move higher The front-month contract drifted on…
March Natural Gas Futures Debut Higher Even as Forecasts Stay ‘Massively Warmer’
The March natural gas futures contract held above $2.000/MMBtu Tuesday and closed higher on its first day as the front month, aided by technical levels and daily production declines. The March Nymex gas futures contract rose 2.3 cents to settle at $2.077, after trading as low as $2.046. NGI’s Spot Gas National Avg. fell 37.5…
Mexico Natural Gas Market Growth Said Challenged by Lack of Storage, Uneven Regulation
Representatives from some of Mexico’s most important natural gas supply, transport and storage companies are optimistic that the national industry is poised to continue to grow.Mexico natural gas demand is set to expand 4.6% annually during the next decade, according to forecasts by national pipeline system operator Cenagas. “I think natural gas is probably in…
February Roll-Off Juices Volatility for Falling Natural Gas Futures; East-West Cash Prices Diverge
Natural gas futures sank Monday as warmer forecasts and rebounding production volumes weighed on outlooks, with the February contract volatile on its last trading day. At A Glance: NGI models 190 Bcf draw Production rebounds to 106 Bcf/d East cash markets rise The February Nymex gas futures contract dropped 22.2 cents day/day to settle at…
Weekly Natural Gas Spot Prices, Futures Sputter After Winter’s Worst Cold
Weekly natural gas cash prices lost ground for the first time this year with the brunt of the season’s worst winter storm passed and set to give way to warmer temperatures. NGI’s Weekly Spot Gas National Avg. for the holiday-shortened Jan. 16-19 period fell $1.520 to $4.545/MMBtu. Prices in most regions declined in the trading…
Natural Gas Futures Extend Slump as Warmer Weather Set to Take Hold; Spot Prices Drop
Natural gas futures fell on Friday for a fourth straight day as warmer forecasts and rebounding production put the week’s polar vortex firmly in the rearview mirror. The February Nymex gas futures contract fell 17.8 cents and settled at $2.519/MMBtu. At A Glance: Late-January warm-up looms Production rises above 100 Bcf/d Weekend cold boosts Southeast…