natural gas storage

Momentum Proves Elusive for February Natural Gas Futures

Momentum Proves Elusive for February Natural Gas Futures

For a third-straight day, Natural gas futures gave up ground, with warmer weather outlooks outshining expectations for a steep storage withdrawal. The February Nymex gas futures contract settled at $2.491, down 4.8 cents day/day. March fell 3.6 cents to $2.497. “Weather is king,” Bespoke Weather Services said, “and continued warmth will keep the market under…

January 21, 2021
Natural Gas Forwards Crash as Winter Peak Approaching with ‘Not Nearly Cold Enough’ Weather on Tap

Natural Gas Forwards Crash as Winter Peak Approaching with ‘Not Nearly Cold Enough’ Weather on Tap

Mother Nature delivered a gut punch to the natural gas market, pulling back on projections for a polar vortex to descend into the Lower 48 by the end of the month. The frigid forecast was seen as the missing link in an otherwise solidly supported market. Natural gas forward prices responded with sharp decreases in…

January 21, 2021
Lack of Cold Keeps Pressure on Natural Gas Futures as LNG Volumes Seen Dropping

Lack of Cold Keeps Pressure on Natural Gas Futures as LNG Volumes Seen Dropping

Continued warmth in the latest forecasts, combined with a drop in export volumes, sent natural gas futures several cents lower in early trading Thursday. The February Nymex contract was down 5.0 cents to $2.489/MMBtu at around 8:45 a.m. ET. The updated forecast from Bespoke Weather Services early Thursday showed small changes versus 24 hours earlier.…

January 21, 2021
Warmer Forecasts Chill February Natural Gas Futures; Cash Prices Drop

Warmer Forecasts Chill February Natural Gas Futures; Cash Prices Drop

Expectations eased for a widespread winter freeze  LNG volumes were solid, but lower than January highs Spot prices sputtered amid mild temperatures Natural gas futures plunged on Tuesday after forecasts over the holiday weekend trended warmer for late January and early next month, diminishing prior expectations for a widespread winter freeze that would fuel robust…

January 20, 2021
Bulls ‘Giving Up Hope’ for Winter Cold as Natural Gas Futures Extend Slide Early

Bulls ‘Giving Up Hope’ for Winter Cold as Natural Gas Futures Extend Slide Early

Milder trends overnight in the forecast data piled on the pressure for natural gas futures in early trading Wednesday as hopes for substantive weather-driven demand this winter rapidly fade. After settling 19.1 cents lower in the previous session, the February Nymex contract was down 7.1 cents to $2.475/MMBtu at around 8:40 a.m. ET. The overnight…

January 20, 2021
Natural Gas Futures Rebound Early as Models Retain Late January Cold

Natural Gas Futures Rebound Early as Models Retain Late January Cold

As models maintained expectations for a shift to colder U.S. temperatures to close out the month of January, natural gas futures reversed their recent losses in early trading Friday. After giving up 6.1 cents in the previous session, the February Nymex contract was up 9.1 cents to $2.757/MMBtu at around 8:40 a.m. ET. Recent weather…

January 15, 2021
Natural Gas Forwards Mostly Steady, but Polar Vortex Driving Big Gains in Rockies, Northeast

Natural Gas Forwards Mostly Steady, but Polar Vortex Driving Big Gains in Rockies, Northeast

Small price gains were seen along U.S. natural gas forward curves for the Jan. 7-13 period, but they did not tell the whole story. Volatility was in full swing as weather models continued to tease the market with signals that truly frigid winter weather may loom. February prices averaged 5.0 cents higher for the period,…

January 14, 2021
Natural Gas Storage Withdrawal Eclipses Expectations but Fails to Boost Futures

Natural Gas Storage Withdrawal Eclipses Expectations but Fails to Boost Futures

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 134 Bcf from natural gas storage for the week ended Jan. 8. The result exceeded both the year-earlier pull and the midpoint of analysts’ estimates, but it fell short of fueling Nymex natural gas futures. It was “a stronger draw than we estimated…reflecting…

January 14, 2021
Natural Gas Futures Steady Early as Market Awaits Latest EIA Storage Number

Natural Gas Futures Steady Early as Market Awaits Latest EIA Storage Number

With mixed trends in the overnight weather data and the market awaiting the latest round of government inventory data, natural gas futures were hovering close to even in early trading Thursday. The February Nymex contract was up 0.4 cents to $2.731/MMBtu at around 8:45 a.m. ET. Traders and analysts are predicting another triple-digit withdrawal from…

January 14, 2021
February Natural Gas Futures Eke Out Gain as Weather Outlooks Shift

February Natural Gas Futures Eke Out Gain as Weather Outlooks Shift

Forecasts called for a late January freeze But outlooks were mixed on the intensity of the cold blast Cash prices climbed, led higher by hubs in the Northeast Natural gas prices surged early on Tuesday amid expectations for intensifying U.S. liquefied natural gas (LNG) export demand and increased anticipation of subfreezing air descending from Canada…

January 13, 2021
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