March Nymex natural gas futures sank 7.3 cents day/day and settled just above key $2.000 support as “extremely light” heating demand in the near term – and forecasts for the return of double-digit storage withdrawals – outweighed the potential boost in demand mid-month. At A Glance: Natural gas futures test support Near-term weather pressures Cash…
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Henry Hub Natural Gas to Average $2.40 on Mild Weather to Close Out Heating Season, EIA Says
Henry Hub natural gas spot prices are set to remain subdued at around $2.40/MMBtu in February and March amid unusually mild weather, the U.S. Energy Information Administration (EIA) said in an updated forecast Tuesday. In its latest Short-Term Energy Outlook (STEO), EIA said it expects Henry Hub spot prices to average $2.650 for full-year 2024,…
Natural Gas Futures Inch Up Amid Evolving Weather Patterns; Cash Gains with Storms
March Nymex natural gas futures ended nearly unchanged on the plus side in the week’s opening session as the market locked onto near-term weather forecasts for mild conditions ahead of an expected blast of mid-February cold. At A Glance: Futures flat Supply worries Spot gas up The front-month contract settled at $2.082/MMBtu, less than 1.0…
Natural Gas Futures Ease Lower Early as Market Eyes Potential Colder Shift
With the market in an apparent holding pattern as traders await more details on the extent of colder weather arriving later this month, natural gas futures eased lower early Tuesday. The March Nymex contract was off 2.5 cents to $2.057/MMBtu at around 8:35 a.m. ET. In early trading, the front month did not venture outside…
Natural Gas Futures Ease Lower Early Amid Near-Term Warmth, Production Strength
With the prospect of a colder back half of February countered by mild weather and continued production strength in the interim, natural gas futures probed both sides of even early Monday. The March Nymex contract was off 3.1 cents to $2.048/MMBtu at around 8:45 a.m. ET, though the front month had pushed as high as…
Natural Gas Futures Edge Higher With Eyes On Late-February Weather Shift; Cash Sinks
March Nymex natural gas futures settled the week’s closing session up 2.9 cents as the market looked beyond near-term warmth toward a colder end to February with buying possibly triggered by short covering and bargain hunting at current lows. At A Glance: Futures gain on possible cold Upside support limited by production Cash down with…
Natural Gas Futures Sink on Storage Draw and Mild Weather; Cash Gains
March Nymex natural gas futures settled the Thursday regular trading session down 5.0 cents day/day, turning negative after the U.S. Energy Information Administration (EIA) reported a storage withdrawal that was within market expectations. At A Glance: 197 Bcf storage draw meets expectations Neat-term warmth pressures Spot gas prices move higher The front-month contract drifted on…
Natural Gas Futures Sink After EIA Storage Report; Cash Gains
March Nymex natural gas futures settled the Thursday regular trading session down 5.0 cents day/day, turning negative after the U.S. Energy Information Administration (EIA) reported a storage withdrawal that was within market expectations. At A Glance: Storage draw meets expectations Warm weather precedes cold Cash ends losing streak The front-month contract drifted on either side…
Natural Gas Forwards Weighed Down by Supply as Bulls Look for Colder Pattern Shift
Regional natural gas forward prices came under bearish pressure across the curve during the Jan. 25-31 trading period as recovering production volumes and blowtorch winter temperatures foreshadowed excess supply heading into the upcoming injection season. Henry Hub fixed prices shed 16.0 cents for March delivery, ending the period at $2.112/MMBtu, NGI’s Forward Look data show.…
Fourth Consecutive Triple-Digit Storage Pull Falls Within Expectations, Sending Natural Gas Futures Lower
The U.S. Energy Information Administration (EIA) reported a natural gas withdrawal from storage of 197 Bcf for the week ending Jan. 26, another triple-digit withdrawal and the fourth in a row, which landed at the high end of the wide range of expectations. Ahead of the 10:30 a.m. ET government report, March Nymex futures were…