Despite a benign government inventory report, natural gas futures fell a fourth consecutive session on Wednesday as traders contemplated unfavorable mid-range weather outlooks and the potential for a pullback in demand for U.S. exports. The December Nymex contract settled at $4.880/MMBtu, down 9.9 cents day/day and near a two-month low. January fell 9.6 cents to…
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Natural Gas Futures Losses Accelerate, Despite EIA’s Tight 7 Bcf Storage Injection
The Energy Information Administration (EIA) reported a modest 7 Bcf injection into natural gas storage for the week ending Nov. 5, triggering a steeper sell-off along the Nymex futures curve. The EIA’s weekly inventory report was released at noon ET on Wednesday, one day earlier than normal because of the Veterans Day holiday. Nymex futures…
December Natural Gas Futures, Cash Prices Dive Lower Amid Light Demand, Stronger Output
Natural gas futures plummeted on Tuesday as domestic production held strong and storage levels were projected to prove ample for winter, while forecasts pointed to soft weather-driven demand in both the United States and Europe. The December Nymex contract dropped 44.8 cents day/day and settled at $4.979/MMBtu. January fell 43.5 cents to $5.070. Tuesday’s trading…
‘Bearish Tilt’ to Weather Extends Natural Gas Futures Losses Ahead of Early EIA Report
With forecasts hinting at a turn toward milder conditions for the Lower 48 in late November, natural gas futures continued to erode in early trading Wednesday. The December Nymex contract was down 19.4 cents to $4.785/MMBtu at around 8:50 a.m. ET. Recent model runs as of early Wednesday advertised warmer trends and lower overall weather-driven…
Pressure Intensifies on Natural Gas Prices, with December Futures Slumping Third Straight Day
Natural gas futures plummeted on Tuesday as domestic production held strong and storage levels were projected to prove ample for winter, while forecasts pointed to soft weather-driven demand in both the United States and Europe. At A Glance: Production hovers near 95 Bcf Markets expect modest storage increase Demand steady for U.S. exports The December…
Little Change Seen in Latest Forecasts as Natural Gas Futures Continue to Slide Early
Natural gas futures extended their recent losses in early trading Tuesday as the latest forecasts did little to change a mixed overall temperature outlook for the next two weeks. Coming off an 8.9-cent decline in the previous session, the December Nymex contract was down another 18.8 cents to $5.239/MMBtu at around 8:50 a.m. ET. Overnight…
Near-Record Production, Persistent Mild Outlook Send Natural Gas Futures Lower
Natural gas futures teetered between gains and losses much of Monday as traders contrasted rising production and mild fall weather forecasts against strong demand for U.S. exports of liquefied natural gas (LNG). The December Nymex contract, however, ultimately settled at $5.427/MMBtu, down 8.9 cents day/day amid domestic demand weakness. January fell 12.1 cents to $5.505.…
December Natural Gas Prices Fail to Sustain Momentum
Natural gas futures faltered on Friday amid dubious midrange weather outlooks and increased production, ending a three-day win streak. The December Nymex contract settled at $5.516/MMBtu, down 20.0 cents day/day. January fell 20.0 cents to $5.626. NGI’s Spot Gas National Avg. dropped 37.0 cents to $5.115. Bespoke Weather Services said models that had earlier in…
Weekend Models Show ‘Inconsequential’ Demand Gains as Natural Gas Futures Soften Early
Natural gas futures softened in early trading Monday as weekend shifts in forecasts failed to deliver the kind of intense winter cold needed to catalyze the market. The December Nymex contract was off 9.7 cents to $5.419/MMBtu at around 8:40 a.m. ET. Over the weekend, trends in the major weather models yielded a “pretty inconsequential”…
Pressure Resumes on Natural Gas Prices, with December Futures Falling First Time in Four Days
Natural gas futures faltered on Friday amid dubious midrange weather outlooks and increased production, ending a three-day win streak. The December Nymex contract settled at $5.516/MMBtu, down 20.0 cents day/day. January fell 20.0 cents to $5.626. At A Glance: Weather forecasts are ‘very noncommittal’ Storage supplies near five-year average Cash prices slump amid mild temperatures…