Cooler-trending forecasts helped natural gas futures to pare some of their recent losses in early trading Wednesday. The December Nymex contract was up 4.7 cents to $2.739/MMBtu at around 8:40 a.m. ET. The major weather models added demand to the outlook overnight, with both the American and European datasets now showing at least 10 additional…
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Momentum Eludes December Natural Gas Futures as Production Rises, Domestic Demand Tapers
Natural gas futures on Tuesday traded sideways as markets weighed modest weather-driven demand and rising production against continued strength in exports. The December Nymex contract flipped between slight gains and losses throughout much of Tuesday’s session and ultimately settled at $2.692/MMBtu, down a half-cent day/day. January fell 2.0 cents to $2.844. A day earlier, the…
December Natural Gas Steady Early as Forecasts Remain Bearish
Coming off a dramatic sell-off in the previous session, natural gas futures held their ground early Tuesday, although bearish themes continued in the latest forecasts. The December Nymex contract was up 1.2 cents to $2.709/MMBtu at around 8:45 a.m. ET. The temperature outlook to start the winter heating season has been thoroughly disappointing from the…
Natural Gas Tumbles on Bearish Forecasts as ‘Old Man Winter Remains Tardy’
Natural gas futures traded sharply lower early Monday as the latest forecasts lowered weather-driven demand expectations and signaled that mild weather could stretch into early December. The December Nymex contract was off 15.1 cents to $2.844/MMBtu at around 8:40 a.m. ET. Weather data was “decidedly” bearish trending over the weekend, with forecast demand dropping compared…
Natural Gas Futures Pare Losses Early as Traders Look Ahead to EIA Data
As traders awaited the latest government inventory data to help gauge the supply/demand balance, a small increase in weather-driven demand expectations helped natural gas futures cut into the previous session’s losses in early trading Friday. After dipping 5.5 cents Thursday, the December Nymex contract was up 4.5 cents to $3.021/MMBtu at around 8:45 a.m. ET…
Mixed Signals Seen from Weather Data as Natural Gas Futures Steady Early
Natural gas futures appeared to be in a holding pattern early Thursday as analysts tried to gauge the durability of recent cold trends in the weather data. The December Nymex contract was off 0.7 cents to $3.024/MMBtu at around 8:40 a.m. ET. Based on colder trends in model runs over the past 24 hours, Bespoke…
Latest Forecasts Lean Cooler as December Natural Gas Posts Small Gains Early
Modest cooling trends in the latest weather data had natural gas futures trading close to even early Wednesday. The December Nymex contract was up 1.3 cents to $2.962/MMBtu at around 8:45 a.m. ET. Forecasting from Bespoke Weather Services early Wednesday showed a second consecutive day of projected demand gains, with a few days toward the…
Natural Gas Futures Pare Losses on HDD Gains, but Weather Still ‘Solidly Bearish’
Helped by a modest uptick in heating demand expectations in the latest round of weather data, natural gas futures recovered some of their recent losses in early trading Tuesday. The December Nymex contract was up 3.4 cents to $2.893/MMBtu at around 8:40 a.m. ET. Models added some heating degree days (HDD) over the previous 24…
Natural Gas Bulls Hold Their Ground Early Despite ‘Very Warm’ Temperature Outlook
Natural gas futures held steady in early trading Monday, avoiding further losses despite continued signs of warmth from the latest weather data. The December Nymex contract was up 0.4 cents to $2.892/MMBtu at around 8:45 a.m. ET. The “very warm” temperature outlook that dominated guidance last week held in model runs through the weekend, and…
Warm Forecast Pulls Natural Gas Bears Out of Hibernation as Futures Continue Slide
Continued warmth in the temperature outlook kept natural gas futures bulls on the defensive in early trading Friday. After recording heavy losses this week, the December Nymex contract was down another 2.6 cents to $2.916/MMBtu at around 8:40 a.m. ET. Based on the latest guidance, Bespoke Weather Services reduced its projected gas-weighted degree day totals…