Natural gas futures found fresh footing Thursday, supported by a weekly storage report that slightly beat estimates and signs that the Freeport LNG export terminal may be preparing to restart its third train. At A Glance: EIA prints 9 Bcf withdrawal Production falls to 100.8 Bcf/d Freeport LNG repairs closely eyed The April Nymex contract…
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North American Natural Gas Prices in Doldrums After Warm Winter – Mexico Spotlight
North American natural gas futures gained some ground on Thursday but overall, prices continued to languish. After six straight sessions of losses, the New York Mercantile Exchange contract for April rose on Thursday by 8.3 cents/MMBtu day/day to settle at $1.741. There was little room for optimism, though, for natural gas bulls. AccuWeather said the…
Selling Weighted to Front of Natural Gas Forward Curves on Weak Near-Term Fundamentals
Against a backdrop of soft near-term fundamentals, exceptionally weak spot market pricing and plummeting Nymex futures, regional natural gas forwards came under widespread bearish pressure during the March 7-13 trading period, NGI’s Forward Look data show. For a market still threading the needle between near-term oversupply and anticipated future demand growth, selling was weighted toward…
Natural Gas Futures Maintaining Post-EIA Momentum; Cash Weakness Continues — MidDay Market Snapshot
Natural gas futures continue rallying through midday after supportive government inventory data April Nymex futures up 7.7 cents to $1.735/MMBtu as of 2:13 p.m. ET; May up 7.2 cents to $1.856 U.S. Energy Information Administration (EIA) reported 9 Bcf withdrawal for week ended March 8, tighter versus estimates but loose versus historical norms Per Gelber…
April Natural Gas Futures Gain After Storage Print Exceeds Estimates
The U.S. Energy Information Administration (EIA) on Thursday reported a natural gas withdrawal from storage of 9 Bcf for the week ended March 8, which exceeded expectations and sent futures higher. Ahead of the 10:30 a.m. ET government report, April Nymex futures were trading 2.6 cents higher day/day at $1.684/MMBtu. After the data was released,…
Natural Gas Futures Lose Ground for Sixth Session as Henry Hub Spot Price Sinks to 15-Year Low
Natural gas futures fell Wednesday, pressured lower by weak near-term fundamentals sending cash prices to new lows and a looming government storage report Thursday that could show a bearish early season build. At A Glance: Output rises to 101.0 Bcf/d Henry Hub cash at $1.240 Storage print due Thursday The April Nymex contract settled at…
Historic Lows for Henry Hub Cash; Natural Gas Futures Flounder — MidDay Market Snapshot
Soft near-term fundamentals keeping pressure on natural gas futures at the front of the curve through midday trading April Nymex contract down 3.7 cents to $1.677/MMBtu as of 1:56 p.m. ET; May off 2.9 cents at $1.794 LNG export demand down to 12.6 Bcf/d in latest Wood Mackenzie estimates Deliveries to Freeport well below capacity…
Natural Gas Futures Slide as Cash Prices at Three-Year Lows Outweigh CNX Output Cuts
Natural gas futures reversed early gains Tuesday as weaker physical prices squashed initial optimism from another producer curtailment to send the prompt contract to its fifth straight decline. At A Glance: CNX cuts 30 Bcf equivalent Two Freeport LNG trains offline National Avg. sinks to $1.285 The April Nymex contract settled at $1.714/MMBtu, down 4.5…
Natural Gas Futures Traders Not Impressed by March Cooling as Prices Extend Skid
With upcoming cooling seemingly a case of too-little, too-late for natural gas prices, futures losses mounted in early trading Wednesday. After conceding 4.5 cents in the previous session, the April Nymex contract was down another 4.1 cents to $1.673/MMBtu as of 8:47 a.m. ET. Updated projections from Maxar’s Weather Desk showed the eastern half of…
CNX Output Curb Fails to Lift Natural Gas Futures as Cash Slump Stumps Bulls
Natural gas futures reversed early gains Tuesday as weaker physical prices squashed initial optimism from another producer curtailment to send the prompt contract to its fifth straight decline. At A Glance: Output falls to 100.6 Bcf/d Warmth spreads to East National Avg. sinks to 2024 low The April Nymex contract settled at $1.714/MMBtu, down 4.5…