Natural gas futures were sluggish to start the week as weather models came into agreement in showing a lack of continued frigid weather into early February. Though production remains off recent highs and export demand continues to be near record levels, the February Nymex gas futures contract on Monday settled at $4.027/MMBtu, up only 2.8…
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Weather Models Disagree on February Cold as Natural Gas Futures Skid Lower Early
Uncertainty over the extent winter chills into the month of February put downward pressure on natural gas futures in early trading Tuesday. The February Nymex contract was off 5.6 cents to $3.971/MMBtu at around 8:50 a.m. ET. March was off 3.8 cents to $3.837. The European weather model shed heating demand from the outlook overnight…
Natural Gas Futures Finish Week on High Note; Cash Falls
Natural gas futures climbed back into positive territory on Friday amid updated forecasts for freezing conditions to extend into next month and expectations for stout withdrawals from storage. The February Nymex gas futures contract settled at $3.999, up 19.7 cents day/day. March rose 13.3 cents to $3.782. NGI’s Spot Gas National Avg., in contrast, shed…
Natural Gas Futures Slide as Traders Eye Milder February Temps
Eyeing a February warm-up, traders shrugged off signs of tight balances in the interim to send prompt month natural gas futures lower early Monday. The February Nymex contract was off 4.5 cents to $3.954/MMBtu at around 8:45 a.m. ET. March, meanwhile, was trading close to even at $3.780. Trends from the major weather models were…
February Natural Gas Futures Bounce Back, Buoyed by Forecast Shift, Export Strength
Natural gas futures climbed back into positive territory on Friday amid updated forecasts for freezing conditions to extend into next month and expectations for stout withdrawals from storage. The February Nymex gas futures contract settled at $3.999, up 19.7 cents day/day. March rose 13.3 cents to $3.782. NGI’s Spot Gas National Avg., in contrast, shed…
U.S. Natural Gas Prices Forecast to Hold Steady in 2022, with LNG Exports Likely Facing More Volatility
Attempting to predict the direction of natural gas prices is much like predicting the weather. A week out, the weather forecaster or gas price prognosticator might hit the number on the nose. Two weeks out, a Winter Storm Uri look-alike could plunge temperatures below freezing with 24 hours’ notice, and gas prices could jump to record highs.
American Model Notably Colder Overnight as Natural Gas Futures Pare Losses Early
Natural gas futures recovered some of their recent losses in early trading Friday as weather models trended colder overnight. The February Nymex contract was up 9.0 cents to $3.892/MMBtu at around 8:55 a.m. ET. The American Global Forecast System (GFS) model trended colder by 15 heating degree days overnight, according to NatGasWeather. Most of the…
Natural Gas Forwards Nosedive as Traders Eye February Warmup
Natural gas traders turned a blind eye to some of the coldest weather of the winter set to arrive in days, sending natural gas forward prices plummeting across the country during the trading period from Jan. 13-19, NGI’s Forward Look showed. While fixed prices for the February contract came off as much as $2.610/MMBtu at…
Natural Gas Futures Fizzle for Second Day Despite Steepest Storage Withdrawal of Winter
Natural gas futures floundered a second consecutive day as weather patterns tilted warmer, overshadowing record export volumes, threats to production and the steepest storage withdrawal of the season. A day after dropping 25.2 cents, the February Nymex gas futures contract on Thursday shed 22.9 cents day/day and settled at $3.802/MMBtu. March fell 19.6 cents to…
‘Volatility Here to Stay’ as Global Natural Gas Demand Gains Prominence – Mexico Spotlight
North America natural gas futures continued to be unpredictable this week as cold weather descended across the Lower 48, while demand for U.S. gas in Europe and Mexico continued to rise. The February Nymex gas futures contract lost 25.2 cents day/day on Wednesday and closed at $4.031/MMBtu. March fell 20.3 cents to $3.845. Upcoming bursts…