Natural gas forwards rallied from coast to coast during the Aug. 11-17 trading period as mounting storage adequacy concerns overshadowed a mild late-summer forecast, according to NGI’s Forward Look data. Fixed prices for September delivery at benchmark Henry Hub surged $1.042 during the period to $9.245/MMBtu, setting the pace for hefty markups across the Lower…
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Natural Gas Futures Ease Ahead of EIA Storage Data, but Power Burns Lift Cash Prices
Natural gas futures fizzled midweek but held comfortably above $9 as bulls remained largely in control of the market. The September Nymex gas futures contract settled Wednesday at $9.244/MMBtu, off 8.5 cents day/day. October futures slid 8.3 cents to $9.228. At A Glance: BREAKING: U.S. EIA reports 18 Bcf storage injection Northeast leads production drops…
Natural Gas Futures Fly, then Crash Following EIA’s Modest 18 Bcf Storage Injection
The Energy Information Administration (EIA) reported an 18 Bcf injection into natural gas storage inventories for the week ending Aug. 12, about half of what the market had expected. Natural gas futures already were higher on the day early Thursday, as traders appeared to expect a low-side injection. The September Nymex futures contract was trading…
September Natural Gas Rebounds Early as Traders Await EIA Report
Natural gas futures rebounded in early trading Thursday as traders awaited the latest government inventory data, expected to show a lighter-than-average summer injection into Lower 48 stockpiles. After posting an 8.5-cent loss in the previous session, the September Nymex contract was up 12.6 cents to $9.370/MMBtu as of around 8:45 a.m. ET. Estimates ahead of…
Natural Gas Futures Soar Past $9 on Growing Supply Concerns
After a solid recovery throughout Monday’s session, natural gas futures extended their streak Tuesday as maintenance activities took another toll on production. The September Nymex gas futures contract soared 60.1 cents day/day to settle at $9.329/MMBtu. October futures climbed 59.9 cents to $9.311. Spot gas prices also surged as power burns remain elevated despite cooler…
Bulls Parade Past $9 as Production Dips Again; Spot Gas Surges on Lingering Heat
After a solid recovery throughout Monday’s session, natural gas futures extended their streak Tuesday as maintenance activities took another toll on production. The September Nymex gas futures contract soared 60.1 cents day/day to settle at $9.329/MMBtu. October futures climbed 59.9 cents to $9.311. Spot gas prices also surged as power burns remain elevated despite cooler…
Returning Supply, Cooler Forecasts Drive Natural Gas Futures Lower; Cash Mostly Down Too
Natural gas futures slipped early Monday as production returned to near all-time highs and weather models cooled a bit for late August. Though bulls stepped in to buy off session lows, the September Nymex gas futures contract settled at $8.728/MMBtu, off 4.0 cents from Friday’s close. October futures fell 3.2 cents to $8.712. Spot gas…
Production Drop, Technical Factors Seen Driving Natural Gas Futures Higher Early
Riding technical momentum and drawing support from hefty declines in the latest production estimates, natural gas futures surged higher in early trading Tuesday. As of around 8:50 a.m. ET, the September Nymex contract was up 51.6 cents to $9.244/MMBtu. In Monday’s session, prices rebounded after a test of support at $8.40, EBW Analytics Group senior…
Natural Gas Futures Extend Losses on Returning Supply, Cooling Temperatures
Natural gas futures slipped early Monday as production returned to near all-time highs and weather models cooled a bit for late August. Though bulls stepped in to buy off session lows, the September Nymex gas futures contract settled at $8.728/MMBtu, off 4.0 cents from Friday’s close. October futures fell 3.2 cents to $8.712. Spot gas…
Natural Gas Futures Slip After Volatile Session; Cash Rises on Power Demand
After plunging close to $8.50/MMBtu just before the open, natural gas futures clawed most of the way back throughout Friday’s session despite little day/day change in fundamentals. The September Nymex gas futures contract settled at $8.768/MMBtu, down 10.6 cents from Thursday’s close. October fell a steeper 11.9 cents to $8.744. Spot gas prices continued to…