Riding momentum from a colder shift in one of the major weather models, natural gas futures advanced in early trading Monday. The March Nymex contract was up 11.6 cents to $4.057/MMBtu at around 8:45 a.m. ET. The European weather model trended colder over the weekend, showing chillier temperatures moving into the northern part of the…
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Natural Gas Futures Extend Losses as Storage Deficits Seen Stalling; Northeast Cash Surges on Storm
Roses are red and so were natural gas futures on Friday as selling action continued along the Nymex curve. A steadily warming February forecast proved too much for bulls to overcome, with the rising temperatures likely preventing a much deeper drawdown of storage inventories heading toward the end of the traditional withdrawal season. The March…
Natural Gas Futures Slip Further After Storage Draw Fails to Lure Bulls; Cash Off Too
Natural gas futures continued to slide Thursday, but losses were tamed after the latest weather data showed some upcoming chilly weather sticking around a little longer than previously expected. Another plump storage withdrawal also may have provided support, with the March Nymex futures contract settling 5.0 cents lower on the day at $3.959/MMBtu. April slipped…
Late February Pattern ‘Quite Bearish’ as Natural Gas Futures Grind Lower
As overnight weather model runs continued to hone in on a turn toward milder conditions for the Lower 48 in late February, natural gas futures skidded lower in early trading Friday. The March Nymex contract was off 6.7 cents to $3.892/MMBtu at around 8:50 a.m. ET. Prices popped above $4 overnight following demand gains from…
Returning Supply, Warming Weather Pressure Natural Gas Futures; Cash Retreat Continues
Natural gas futures continued to slide Thursday, but losses were tamed after the latest weather data showed some upcoming chilly weather sticking around a little longer than previously expected. Another plump storage withdrawal also may have provided support, with the March Nymex futures contract settling 5.0 cents lower on the day at $3.959/MMBtu. April slipped…
Fading February Cold Provokes Stark Sell-Off for Natural Gas Forwards
With signs of a February warm-up going a long way toward assuaging any lingering supply concerns, natural gas forwards plummeted during the Feb. 2-9 trading period, NGI’s Forward Look data show. Shedding value like a winter coat on an unseasonably warm sunny afternoon, benchmark Henry Hub fixed price trades plunged $1.492 to average $4.019/MMBtu during…
March Natural Gas Slides as Winter’s End Nears; Cash Continues to Fall
Natural gas futures took a big step down midweek as weather models better aligned in showing more warmth in the forecast for the rest of the month. After a brief slip below $4.000/MMBtu, the March Nymex gas futures contract settled Wednesday at $4.009, off 23.9 cents from Tuesday’s close. April slid 23.8 cents to $3.980.…
Natural Gas Futures Briefly Pop on EIA’s 222 Bcf Storage Draw
The Energy Information Administration (EIA) reported a 222 Bcf withdrawal from natural gas storage inventories for the week ending Feb. 4, extending to five the streak of 200-plus Bcf pulls. The print was in line with expectations, but gas prices responded favorably to the draw given the expanding deficit to historical levels. The March Nymex…
March Natural Gas Sinks Further as Late February Temperature Outlook Warms
Incremental warming in the late February temperature outlook saw natural gas futures grind lower in early trading Thursday ahead of the latest round of government inventory data. As of around 8:45 a.m. ET, the March Nymex contract was down 9.3 cents to $3.916/MMBtu, extending a 23.9-cent sell-off in the previous session. Expectations for the latest…
U.S. Natural Gas Prices Seen Rising in February, Though Weather Remains Wild Card
Natural gas spot prices at Henry Hub are set to average $4.70/MMBtu in February, according to updated projections from the U.S. Energy Information Administration (EIA), though the agency cautioned that its forecast is subject to weather uncertainty. Spot prices at the national benchmark averaged $4.38 in January, an increase above average prices of $3.76 in…