Natural gas bulls have taken it on the chin so far this winter, but Henry Hub spot prices remain on track to average $4.58/MMBtu from December through February, according to the latest forecasting from the Energy Information Administration (EIA). The winter price prediction, published Tuesday as part of the December edition of the EIA’s Short-Term…
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Natural Gas Prices Clobbered as Weather Models Trend Warmer for Late December
It won’t be death by a thousand cuts for natural gas. It’ll be far less than that after an increasingly bearish December weather outlook slashed another hefty chunk off natural gas prices to start the week, leaving prompt-month prices down about $1.20 since last Monday (Nov. 29). With production recovering from recent lows and sitting…
Natural Gas Futures Pare Losses Early Amid Pause in Bearish-Trending Forecasts
Coming off a stretch of relentless selling, natural gas futures recovered a small portion of their recent losses in early trading Tuesday as updated weather model runs trended modestly cooler. The January Nymex contract was up 10.9 cents to $3.766/MMBtu at around 8:50 a.m. ET. Among the potentially supportive factors for natural gas, EBW Analytics…
Natural Gas Futures Recover as Weather Models Shift Cooler
In an unsurprising move, natural gas futures bounced back from a four-day decline to finish the week firmly in positive territory. With a boost from technicals, colder changes in the weather models sparked a 7.6-cent rally for the January Nymex gas futures contract, which settled at $4.132. February also climbed 7.6 cents to $4.073. At…
Natural Gas Futures Crash Through $4 Barrier Early as Forecasts Again Trend Milder
Natural gas futures tumbled lower in early trading Monday, crashing through the $4/MMBtu barrier as weekend forecast trends further reduced already-mild weather-driven demand expectations. The January Nymex contract was down 38.4 cents to $3.748/MMBtu at around 8:50 a.m. ET. Both the American and European modeling agreed on forecast trends over the weekend that would cut…
Colder Turn in Latest Weather Data Snaps Four-Day Slide for Natural Gas Futures
In an unsurprising move, natural gas futures bounced back from a four-day decline to finish the week firmly in positive territory. With a boost from technicals, colder changes in the weather models sparked a 7.6-cent rally for the January Nymex gas futures contract, which settled at $4.132. February also climbed 7.6 cents to $4.073. At…
Natural Gas Futures Sink Closer to $4 on Stubbornly Mild Forecast; Cash Slips Further
Natural gas futures could not hold onto early gains Thursday after the latest government storage data failed to generate any buzz in the market. Profit-taking managed to push January Nymex gas futures to a $4.335/MMBtu intraday high early in the session, but with a stubbornly mild weather forecast, the contract eventually settled at $4.056, down…
Weather Models Seen Cooler Overnight as Natural Gas Futures Pare Losses Early
Against a backdrop of relentless selling earlier in the week, natural gas futures mounted a modest recovery in early trading Friday as weather models increased heating demand projections overnight. The January Nymex contract was up 11.7 cents to $4.173/MMBtu at around 8:50 a.m. ET. Both the American and European modeling increased gas-weighted degree day expectations…
‘Lights-Out Warm’ December Forecast Keeping Winter Supply Risks at Bay as Natural Gas Forwards Nosedive
The natural gas market returned from Thanksgiving seemingly ready to pull the plug on winter. Amid forecasts insisting on a milder December pattern that would substantially mitigate risks of a winter supply crunch, natural gas forwards dropped sharply during the Nov. 24-Dec. 1 trading period, NGI’s Forward Look data show. Henry Hub fixed price forwards…
Natural Gas Futures Post Fourth Consecutive Loss on Technically Driven Sell-Off; Cash Still Weak
Natural gas futures could not hold onto early gains Thursday after the latest government storage data failed to generate any buzz in the market. Profit-taking managed to push January Nymex gas futures to a $4.335/MMBtu intraday high early in the session, but with a stubbornly mild weather forecast, the contract eventually settled at $4.056, down…