Natural gas futures struggled to put up more gains on Thursday after traders digested the latest government inventory data. Even with the potential for cold later this month still in play, the January Nymex contract settled at $3.814/MMBtu, off one-tenth of a cent from Wednesday’s close. February, however, climbed 1.0 cent to $3.784. Spot gas…
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‘Relief’ Expected as Winter Natural Gas Price Outlook Brightens – Mexico Spotlight
North American natural gas futures for the upcoming winter steadied mid-week at the prospect of cooler weather but have slumped since the start of the month and sit below the $4 mark. The January Nymex gas futures contract settled Wednesday at $3.815/MMBtu, up 10.7 cents day/day. February climbed 10.0 cents to $3.774. “Consumers who pay…
West Coast Basis Climbs, but January Natural Gas Forward Discounts Widespread
As natural gas traders in the western United States braced for higher demand, prices throughout the rest of the country continued to erode during the five-day Dec. 2-8 trading period, NGI’s Forward Look data show. January fixed price trades for delivery at Henry Hub fell 44.3 cents week/week to $3.835/MMBtu, and most Lower 48 hubs…
Natural Gas Futures Mount More Gains on Potential Cold Blast as Northeast Cash Buckles
Natural gas futures strengthened for the second day in a row, this time on what forecasters said was the potential for a “material change” in the weather pattern before the new year begins. The January Nymex gas futures contract settled Wednesday at $3.815/MMBtu, up 10.7 cents day/day. February climbed 10.0 cents to $3.774. Spot gas…
Yawn! Natural Gas Futures Price Action a Snooze Fest After Latest EIA Storage Report
The Energy Information Administration (EIA) reported another 59 Bcf withdrawal from natural gas storage inventories, this time for the week ending Dec. 3. The pull was in line with consensus, leaving natural gas traders largely unimpressed. Futures prices had waffled in and out of positive territory early Thursday, and the January Nymex contract was off…
Below-Average Withdrawal Expected from EIA as Natural Gas Futures Ease Lower Early
Natural gas futures were trading slightly lower early Thursday as the market awaited updated government inventory data that was expected to show a lighter-than-average weekly withdrawal from Lower 48 storage. The January Nymex contract was down 3.7 cents to $3.778/MMBtu at around 8:50 a.m. ET. For the latest Energy Information Administration (EIA) storage report, scheduled…
EIA Lowers Winter Natural Gas Price Forecast on Mild Temps, Rising Production
Natural gas bulls have taken it on the chin so far this heating season, but Henry Hub spot prices remain on track to average $4.58/MMBtu from December through February, according to the latest forecasting from the U.S. Energy Information Administration (EIA). The winter price prediction, published Tuesday as part of the December edition of the…
Natural Gas Futures Bounce Back, but Warmth Still Poses Downside Risk; Northeast Cash Strong
Natural gas futures managed a rebound from the prior day’s massive sell-off, even as the persistently warm December outlook trimmed gains from early in the session. After touching a $3.829/MMBtu intraday high, the January Nymex gas futures contract settled Tuesday at $3.708, up 5.1 cents on the day. February climbed 4.9 cents to $3.674. At…
Forecasts Tease Colder Late-December Temps as Natural Gas Futures Climb Early
With updated weather models seen hinting at a possible shift away from the exceptionally mild temperatures that have dominated recent forecasts, natural gas futures rallied in early trading Wednesday. The January Nymex contract was up 15.8 cents to $3.866/MMBtu at around 8:50 a.m. ET. While not adding to demand expectations day/day, the latest forecast outlook…
Natural Gas Futures Eke Out Modest Increase as Cold Blast Rocks New England Cash
Natural gas futures managed a rebound from the prior day’s massive sell-off, even as the persistently warm December outlook trimmed gains from early in the session. After touching a $3.829/MMBtu intraday high, the January Nymex gas futures contract settled Tuesday at $3.708, up 5.1 cents on the day. February climbed 4.9 cents to $3.674. Spot…