In a holiday-abbreviated period in which futures struggled, weekly cash prices failed to sustain early momentum and finished in negative territory. Spot markets started the week with solid gains before dipping lower late in the covered period. The late declines sent NGI’s Weekly Spot Gas National Avg. for the May 31-June 2 period down 24.0…
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Technical Resistance Props Up Natural Gas Futures, but Plump Supplies, Benign Weather Endure
Supported by bargain buying and technical factors, natural gas futures crept into positive territory Friday and held there for the first time in an otherwise bruising week. The July Nymex gas futures contract gained 1.4 cents day/day and settled at $2.172/MMBtu. August rose 2.6 cents to $2.299. At A Glance: Near-term demand remains weak Probable…

Bears Route July Natural Gas Futures Thursday; Cash Prices Crumble
Natural gas futures faltered on Thursday, driven lower by a robust inventory injection that reflected strong production and anemic demand. The July Nymex gas futures contract, which has lost ground each day this week, dropped 10.8 cents day/day and settled at $2.158/MMBtu.. August lost 8.5 cents to $2.273. NGI’s Spot Gas National Avg. shed 39.5…

Natural Gas Futures Pare Losses Early as Longer-Range Forecasts Tease Hotter Pattern
After selling off throughout the week, natural gas futures attempted to pare their losses in early trading Friday as the wait for more impressive summer heat to arrive continued. The July Nymex contract was up 2.6 cents to $2.184/MMBtu at around 8:50 a.m. ET. The Energy Information Administration (EIA) on Thursday reported a 110 Bcf…

June Natural Gas Bidweek Prices Nudge Higher as Traders Eye Summer Heat in Key Regions
June bidweek natural gas prices were mostly higher, supported by expectations that heat would soon become widespread, export demand could rise, and production may finally experience a sustained pullback. That said, price increases were moderate at best at the majority of U.S. locations, and weakness was seen throughout the West Coast. NGI’s June Bidweek National…

North American Natural Gas Futures Still Lifeless; Baja California Seeks Supply Relief – Mexico Spotlight
North American natural gas futures were battered this week as markets continued to be flush with supply amid light demand. The July New York Mercantile Exchange gas futures contract dropped 10.8 cents day/day on Thursday and settled at $2.158/MMBtu. August lost 8.5 cents to $2.273. U.S. production topped 101 Bcf/d on Wednesday. Throughout May, it…

July Natural Gas Futures Fail to Find Momentum
The U.S. Energy Information Administration (EIA) reported an injection of 110 Bcf natural gas into storage for the week ended May 26. The result came in above median estimates and drove Nymex natural gas futures deeper into the red. Natural gas futures on Wednesday declined again under the weight of two usual suspects – steady…

Triple-Digit Storage Injection Keeps Pressure on Beleaguered Natural Gas Futures
The U.S. Energy Information Administration (EIA) reported an injection of 110 Bcf natural gas into storage for the week ended May 26. The result came in above median estimates and drove Nymex natural gas futures deeper into the red. The inventory increase, driven by steady production volumes above 100 Bcf/d and modest demand on both…

Kinder Morgan Adding 6 Bcf-Plus of Texas Natural Gas Storage as U.S. Demand Grows
Kinder Morgan Inc. (KMI) is planning to expand the working natural gas storage capacity at the Markham Storage facility on the Texas coast, signaling momentum for building assets amid long-term demand growth. The midstreamer reached an agreement with Underground Services Markham LLC, a subsidiary of Texas Brine Co. LLC, to lease an additional salt dome…

EIA Storage Data Could Show ‘Bearish Correction’ as Natural Gas Futures Extend Losses
As traders awaited the details on another hefty shoulder season storage injection, and with convincing signs of summer cooling demand yet to show up in forecasts, natural gas futures extended their losses early Thursday. After giving up 6.1 cents in the previous session, the July Nymex contract was down another 5.2 cents to $2.214/MMBtu at…