Regional natural gas forwards generally pushed higher at the front of the curve during the Feb. 29-March 6 trading period as ebbing production strengthened the price outlook for a market dealing with excess supply exiting winter, NGI’s Forward Look data show. Fixed prices for April delivery at benchmark Henry Hub added 4.0 cents for the…
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Natural Gas Futures Sinking After Storage Report Shows Surplus Swelling — MidDay Market Snapshot
Natural gas futures grinding lower through midday after on-target storage report April Nymex contract off 7.5 cents to $1.854/MMBtu as of 2 p.m. ET; May down 8.4 cents to $1.988 U.S. Energy Information Administration (EIA) reported 40 Bcf withdrawal for week ended March 1 EIA print “pretty much at market expectations,” according to Wood Mackenzie’s…
April Natural Gas Futures Deflate as In-Line Storage Print Fails to Excite
The U.S. Energy Information Administration (EIA) on Thursday reported a natural gas withdrawal from storage of 40 Bcf for the week ended March 1, which was near expectations, sending natural gas futures prices lower. Ahead of the 10:30 a.m. ET government report, February Nymex futures were trading 2.3 cents lower day/day at $1.906/MMBtu. After the…
April Natural Gas Steady Early as Market Turns to EIA Storage to Gauge Balances
Natural gas futures hovered close to even early Thursday as traders awaited updated government inventory data that could shed light on how an apparent drop in production is impacting balances. The April Nymex contract was off 0.8 cents to $1.921/MMBtu as of 8:36 a.m. ET. May was down 1.3 cents to $2.059. Predictions for the…
Natural Gas Futures Pare Gains Ahead of Expected Modest Storage Pull; Cash Advances
Natural gas futures ended a two-day run higher on Wednesday as positive vibes from this week’s latest production cuts waned ahead of an expected weak winter storage draw. At A Glance: 37 Bcf withdrawal expected Output holds above 100 Bcf/d Late-month cooldown possible The April Nymex gas futures contract settled at $1.929/MMBtu, down 2.8 cents…
Natural Gas Futures Slide; West Texas Cash Back Above Zero — MidDay Market Snapshot
Natural gas futures drifting lower through midday trading as balances in focus ahead of Thursday’s U.S. Energy Information Administration (EIA) storage report April Nymex contract down 3.0 cents to $1.927/MMBtu as of 1:50 p.m. ET Reuters poll sees median 40 Bcf Lower 48 storage draw for week ended March 1 based on 13 estimates from…
LNG Hopes Briefly Bump Natural Gas Futures Above $2 as Spot Prices Stay Flat
Natural gas futures spiked briefly above the $2.000/MMBtu level Tuesday after the Golden Pass Pipeline updated federal regulators on its progress, sending a signal that the export terminal is advancing. At A Glance: Nymex front month hits $2.009/MMBtu West Texas averages flip negative Mexico exports at around 6.3 Bcf/d That initial reaction was pared back,…
April Natural Gas Ekes Out Early Gain Amid Hints of Cooler Late March Pattern
Natural gas futures inched higher early Wednesday as updated forecasts hinted at somewhat cooler conditions developing over the eastern Lower 48 into the back half of March. The April Nymex contract advanced to $1.968/MMBtu as of 8:44 a.m. ET, up 1.1 cents. May was trading fractionally higher at $2.101. The American weather model shifted warmer…
Buying Spree Fuels Natural Gas Price Gains, but Technicals and Fundamentals Suggest More Downside
Natural gas prices have rebounded from recent lows as a major producer announced production cuts, with buyers remaining aggressive as they appear to be anticipating a potential bottom, according to analysts. In its first session as the prompt month last Wednesday, the April Nymex gas futures contract gained 7.7 cents day/day and settled at $1.885/MMBtu.…
Bump for Natural Gas Futures; Negative West Texas Cash Returns — MidDay Market Snapshot
Natural gas futures pop around 1:25 p.m. ET, shortly after Golden Pass Pipeline files FERC partial in-service request April Nymex contract briefly pushed above $2.000/MMBtu before receding; front month at $1.945 as of 2:02 p.m. ET, up 2.9 cents Regulatory filing seeks interim service for part of Golden Pass Pipeline by April 1, adding up…