Natural gas futures eked out a positive session Thursday as an on-target storage print confirmed further erosion of the Lower 48 inventory surplus on recent summer heat. Meanwhile, cash prices underwent further moderation out West, helping to drop NGI’s Spot Gas National Avg. 14 cents to $2.455/MMBtu. Coming off consecutive sessions in the red, the…
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Potential Improvements to Supply Outlook Crush West Coast Natural Gas Forward Prices
Natural gas forward prices retreated through the Aug. 10-16 period as long-range forecasts point to a cooler end to the month with an increase in tropical activity. Strong production levels outside of maintenance, lagging LNG demand and robust underground stocks also weighed on the market, sending September forward prices down an average 25.0 cents, according…
Muted Response from Natural Gas Futures After EIA Reports On-Target 35 Bcf Injection
The U.S. Energy Information Administration (EIA) on Thursday reported an on-target 35 Bcf injection into domestic storage facilities for the week ending Aug. 11, a surplus-trimming result that solicited only a muted response from natural gas futures traders. Futures climbed early Thursday as traders awaited the latest government inventory report, paring losses recorded over the…
Natural Gas Futures Tumble as Late August Outlook Cools; West Markets Lead Cash Losses
Natural gas futures and cash prices slumped Wednesday as easing weather-driven demand expectations cooled a market leaning on late-summer heat to whittle away at a healthy supply cushion. Coast-to-coast cash losses saw NGI’s Spot Gas National Avg. slide 18.5 cents to $2.595/MMBtu. September Nymex futures, meanwhile, settled at $2.592, off 6.7 cents on the day…
Natural Gas Futures Fall on Cooler August Outlook, Possible Rain for Texas
Natural gas futures tumbled on Tuesday, breaking a two-day stretch in which Nymex prices barely budged given only minor changes in fundamentals. With a cooler turn in the latest weather data, the September Nymex futures contract settled at $2.659, off 13.6 cents from Monday’s close. October fell 11.7 cents to $2.781. Spot gas prices also…
Natural Gas Futures Retreat Further as Cooling Demand Eases in Latest Forecasts
Easing weather-driven demand expectations following cooler adjustments to the latest forecasts saw natural gas futures retreat further in early trading Wednesday. Coming off a 13.6-cent swoon in the previous session, the September Nymex contract was down another 2.9 cents to $2.630/MMBtu at around 8:45 a.m. ET. EBW Analytics Group analyst Eli Rubin characterized the recent…
Natural Gas Bulls Lose Their Grip as Prices Slip on Robust Supply; Cash Retreats
Natural gas futures tumbled on Tuesday, breaking a two-day stretch in which Nymex prices barely budged given only minor changes in fundamentals. With a cooler turn in the latest weather data, the September Nymex futures contract settled at $2.659, off 13.6 cents from Monday’s close. October fell 11.7 cents to $2.781. Spot gas prices also…
Natural Gas Futures Steady as Heat Bakes Pacific Northwest, Texas; Cash Rises Too
Trading action along the Nymex natural gas futures curve was like watching paint dry on Monday, with the prompt month swinging in a tight range given no major changes to fundamentals. The September Nymex gas futures contract settled at $2.795/MMBtu, up 2.5 cents from Friday’s close. October futures tacked on 1.6 cents to $2.898. Western…
Natural Gas Futures Find Some Footing After Beatdown; Cash Slides Ahead of Weekend
Natural gas futures treaded water on Friday as traders continued to digest the latest inventory data. With mostly moderate weather outside of California and Texas keeping demand in check, the September Nymex gas futures contract closed out the week at $2.770/MMBtu, up only seven-tenths of a cent on the day. At A Glance: Storage data…
Natural Gas Futures Prices Fall After Bearish EIA Storage Report Stokes Profit-Taking
In one fell swoop, September natural gas futures erased most of the 25-cent price increase they had amassed over the past three days after a bullish government inventory report. The prompt month Nymex gas futures contract settled Thursday at $2.763/MMBtu, down 19.6 cents day/day. Spot gas prices also softened, sending NGI’s Spot Gas National Avg.…