North American natural gas prices moderated this week as temperatures remained warm and storage inventories continued to grow. NGI natural gas prices at Monterrey and Los Ramones near the border with Texas dropped below $5.00/MMBtu for the first time in over a month. U.S. futures prices for November and December delivery also dipped in this…
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FERC Foresees 103% Henry Hub Natural Gas Price Increase for Winter
Despite projecting higher-than-average temperatures across much of the United States this winter that would typically dampen gas-fired power demand, FERC on Thursday predicted rising natural gas prices for the period. A newly released Federal Energy Regulatory Commission report, “2021-2022 Winter Energy Market and Reliability Assessment,” anticipates an average Henry Hub futures price of $5.63/MMBtu for…
Natural Gas Futures Up Again After Late Rally; Chilly Blasts Boost Cash
After trading sideways for the better part of Wednesday’s session, natural gas futures surged in the last half hour as the tight global supply backdrop provided bulls the justification for another rally. The November Nymex gas futures contract settled at $5.170/MMBtu, up 8.2 cents on the day. December edged up 9.7 cents to $5.447. At…
EIA’s 92 Bcf Natural Gas Storage Build Shrinks Deficit, Pressures Prices
The Energy Information Administration (EIA) reported a 92 Bcf injection into natural gas storage for the week ending Oct. 15, coming in slightly above consensus but within the range of expectations. The latest EIA figure, another sign of improving U.S. supply ahead of the winter, sent gas prices — already lower day/day early in Thursday’s…
Natural Gas Futures Slide Ahead of EIA Print as Another Above-Average Build Expected
Natural gas futures pulled back early Thursday as traders prepared to digest the latest round of government inventory data, expected to show a sixth straight higher-than-average injection into Lower 48 stocks. The November Nymex contract was off 10.8 cents to $5.062/MMBtu at around 8:45 a.m. ET. Surveys ahead of the latest U.S. Energy Information Administration…
Natural Gas Futures Rebound on Lower Production; Cash Weakness Continues
Coming off a steep decline over the past two trading sessions, natural gas futures attempted to regain some footing on Tuesday. A sharp drop in production aided the rebound, lifting the November Nymex gas futures contract by 9.9 cents to $5.088/MMBtu. December settled at $5.350, up 11.4 cents on the day. Spot gas prices, however,…
Lower 48 Pattern ‘Quite Hostile’ to Cold Air as Natural Gas Futures Back Under $5 Early
Continued bearishness in the weather-driven demand outlook saw natural gas futures reverse lower in early trading Wednesday. After rallying 9.9 cents in the previous session, the November Nymex contract was back under the $5 mark at around 8:45 a.m. ET, down 11.3 cents to $4.975/MMBtu. Prices in Tuesday’s session were able to “bounce higher…off a…
November Natural Gas Prices Surpass $5 Despite Mild Outlook; Cash Keeps Sliding
Coming off a steep decline over the past two trading sessions, natural gas futures attempted to regain some footing on Tuesday. A sharp drop in production aided the rebound, lifting the November Nymex gas futures contract by 9.9 cents to $5.088/MMBtu. December settled at $5.350, up 11.4 cents on the day. At A Glance: Production…
Late Sell-Off Sends November Natural Gas Below $5; Cash Tanks on Mild Temperatures
Natural gas futures extended their losses on Monday as cold weather remained largely absent from long-range forecasts. Despite higher global prices, the November Nymex gas futures contract plunged 42.1 cents to settle at $4.989/MMBtu. December dropped 36.4 cents to hit $5.236. At A Glance: Little cold in the forecasts yet European gas surges Big storage…
‘Crumbling’ Weather-Driven Demand Pressures Natural Gas Futures Lower Early
Natural gas futures extended their recent losses in early trading Tuesday as considerable weakness in the weather-driven demand outlook continued to weigh on prices. After plummeting 42.1 cents in the previous session, the November Nymex contract was down 9.9 cents to $4.890/MMBtu at around 8:45 a.m. ET. The front month probed back above the $5…