North American natural gas prices were subdued this week despite a boost from lower production and some lingering cold weather. On Thursday, the New York Mercantile Exchange contract for April settled at $1.683/MMBtu, down 1.6 cents on the day. As a comparison, NGI’s next-day Henry Hub traded Wednesday for Thursday delivery at $1.565, down a…
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Permian Natural Gas Forward Prices Plummet; Other Markets Seeing Basis Improvement
Natural gas forward prices pushed modestly higher at the front of the curve during the March 14-20 trading period, particularly in the Northeast and Appalachia, data from NGI’s Forward Look show. Meanwhile, spring contracts at hubs near the congested Permian Basin struggled under the weight of weak near-term fundamentals. Fixed prices for April delivery at…
Early Storage Injection Sends April Natural Gas Futures Lower
The U.S. Energy Information Administration (EIA) on Thursday reported a 7 Bcf injection into natural gas storage facilities for the week ended March 15, heaping additional pressure on natural gas futures. Ahead of the 10:30 a.m. ET storage print, April Nymex futures were trading down 2.1 cents day/day at $1.678/MMBtu. After the data was released,…
Early Injection Expected from EIA as Natural Gas Futures Slide
With the latest government inventory data expected to further expand the storage surplus and potentially reveal an unseasonably early net injection, natural gas futures fell in early trading Thursday. The April Nymex contract was off 0.8 cents to $1.691/MMBtu as of 8:47 a.m. ET. May was down 1.4 cents to $1.831. Estimates for the U.S.…
April Natural Gas Futures Finish Higher Supported by Cold; Spot Gas Climbs
April Nymex natural gas futures extended gains Tuesday with bulls feeding on near-term weather forecasts that would support a bump in demand and a pullback in the widening of natural gas storage surpluses. At A Glance: Futures add to prior gains Demand boosted by chill Cash gas up, Texas negative The front-month contract settled 4.1…
Natural Gas Futures Steady Early as Market Mulls Supportive Late-Season Cooling
Natural gas futures hovered close to unchanged early Wednesday as modest late-season cooling remained supportive for a market working through a significant storage glut exiting winter. After turning in two straight positive sessions to open the work week, including a 4.1-cent gain on Tuesday, the April Nymex contract was trading flat at $1.744/MMBtu as of…
Natural Gas Futures Up Modestly; West Texas Cash Still Negative — MidDay Market Snapshot
Natural gas futures remained modestly higher at the front of the curve through midday trading Tuesday as prices continued to draw support from a relatively cool forecast and flagging production. Meanwhile, West Texas spot prices remained on the wrong side of zero. Here’s the latest: April Nymex contract up 3.2 cents to $1.735/MMBtu as of…
Natural Gas Futures Prices Finish Higher Monday; Cash Up on Cooldown
Natural gas futures pulled back from early highs, still ending the week’s opening session with a gain as near-term cold weather that could prevent surpluses in natural gas inventories from widening further offered some support. The April Nymex natural gas futures contract settled Monday at $1.703/MMBtu. Prices rallied early to a high of $1.762 but…
Natural Gas Futures Advance Amid Late Season Cooling, Production Weakness
A cooler weather outlook and continued evidence of receding production volumes helped lift natural gas futures in early trading Tuesday. Building on a 4.8-cent rally in the previous session, the April Nymex contract was up 4.9 cents to $1.752/MMBtu as of 8:43 a.m. ET. Natural gas futures “caught a modest bid on Monday, with a…
Colder Forecast, Tighter Balances Lift Natural Gas Futures in Early Trading
Supportive weekend weather trends, against a backdrop of tightening underlying fundamentals, helped natural gas futures rebound in early trading Monday. After plunging 8.6 cents in Friday’s session, the April Nymex contract was up 8.8 cents to $1.743/MMBtu as of 8:35 a.m. ET. The American Global Forecast System model added 20 heating degree days (HDD) over…