Natural gas futures were poised to extend their decline for a third straight day after the latest government inventory report showed a bigger-than-expected increase in storage levels for mid-April. A pop late in Thursday’s session, however, lifted the May Nymex gas futures contract to $6.957/MMBtu, up 2.0 cents day/day. June futures tacked on 3.0 cents…
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Natural Gas Prices Seeing ‘Crazy’ Variations on Production Concerns – Mexico Spotlight
North American natural gas prices displayed extreme volatility this week amid a continued lack of clarity over where U.S. production is headed. After breaking through the $8.00/MMBtu mark on Monday, the May Nymex gas futures contract settled Wednesday at $6.937/MMBtu, down 23.9 cents from Tuesday’s close. June futures slid 21.2 cents to $7.065. The market…
Aegis Shares Insight on Price Swings in U.S. Natural Gas Market – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow for a breakdown of the myriad factors influencing the dramatic price swings in the U.S. natural gas market. NGI Price and Markets Editor Leticia Gonzales is joined by Aegis Hedging Solutions’ Nick Hillman, associate of market analytics. Hillman discusses supply and demand…
Natural Gas Futures Slip Further on Steep Rise in Output Seen Later This Year; Cash Prices Decrease
Natural gas futures continued to retreat sharply midweek in yet another display of the market being largely disengaged from fundamentals. After bouncing back to a $7.410 intraday high, the May Nymex gas futures contract settled Wednesday at $6.937/MMBtu, down 23.9 cents from Tuesday’s close. June futures slid 21.2 cents to $7.065. At A Glance: BREAKING:…
North American Natural Gas Demand Seen Rising Despite Ukraine War Impacts
Global natural gas demand is likely to decline this year because of high prices and market disruptions caused by Russia’s invasion of Ukraine, although demand in North America is still expected to rise, according to the International Energy Agency (IEA). The IEA revised this year’s forecast for global natural gas consumption growth in its latest…
Natural Gas Futures Eye $8.00 on Simmering Supply Concerns
Natural gas futures soared above $8.000/MMBtu in an explosive start to the work week. Fueled by stronger weather-led demand gains, recovering liquefied natural gas (LNG) feed gas deliveries and storage adequacy concerns, the May Nymex gas futures contract settled at $7.820, up 52.0 cents from Thursday’s close. June futures climbed 53.5 cents to $7.958. Spot…
Natural Gas Rallies as Much More Supply Needed to Avoid Winter Crunch; Cash Up
It was off to the races for natural gas futures prices Monday as a bump in production did little to assuage growing concerns about supply later this year, especially in light of the latest weather data. With chilly weather seen boosting demand for most of this month, the May Nymex futures contract exploded 36.5 cents…
Technical Selling Squeezes Natural Gas Futures, but Bullish Long-Term Outlook Intact
Natural gas futures softened on Friday after surpassing the $6.500/MMBtu mark early in the trading session. With technical pressure amplified given the lack of demand response to the higher price environment, overbought conditions sent the May Nymex futures contract down 8.1 cents to $6.278. June futures fell 8.0 cents to $6.356. At A Glance: Production…
Double-Digit Rig Gains in U.S. Paced by Permian in Latest Baker Count
Led by a surge in rigs flooding into the Permian Basin, the U.S. rig count climbed 16 units to finish the week ended Friday (April 8) at 689, updated figures from Baker Hughes Co. (BKR) show. Oil-directed rigs increased by 13 in the United States for the week, while three natural gas-directed units were also…
Substantial Roles Seen for Natural Gas, Carbon Capture in 1.5-C Degree World
Natural gas should play a reduced, yet still significant role, in the global energy mix even if anthropogenic global warming is limited to 1.5 C degrees, according to the latest modeling by the United Nations (UN) climate change panel. The UN’s Intergovernmental Panel on Climate Change (IPCC) analyzed scenarios in the latest report, which indicate…