Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. With the constitutional reform proposal for the energy sector shot down, President López Obrador will find it hard to reverse the structural…
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June Natural Gas Futures Flop to Close Otherwise Furious Run
The June Nymex natural gas futures contract rallied toward its expiration on Thursday, pushing above $9.401 in intraday trading and reaching the highest level since 2008. Even as traders digested a weak storage print and renewed concerns about a supply crunch, many took profits in the final hour of trading that ultimately sent futures into…
Early June Heat Falling Short of Expectations as Natural Gas Futures Retreat Early
With early June heat disappointing bulls in the latest forecasts, appearing to limit upside for prices in the near-term, natural gas futures pulled back sharply in early trading Friday. The July Nymex contract was down 42.9 cents to $8.466/MMBtu at around 8:50 a.m. ET. Overnight weather model trends were cooler, leading Bespoke Weather Services to…
June Natural Gas Futures Forge Rally but Fizzle to Finish Final Day as Front Month
The June Nymex natural gas futures contract rallied toward its expiration on Thursday, pushing above $9.401 in intraday trading and reaching the highest level since 2008. Even as traders digested a weak storage print and renewed concerns about a supply crunch, many took profits in the final hour of trading that ultimately sent futures into…
Amid Unceasing Price Rise, Cenagas Launches Public Consultation on Natural Gas Demand – Mexico Spotlight
North American natural gas prices continued their torrid surge this week, with expiring New York Mercantile Exchange prompt month prices on Wednesday surpassing the $9.00/MMBtu mark for the first time in 14 years. Bespoke analysts said the issue in the United States remains the lack of “significant, and sustainable, gains in production to ensure we…
Natural Gas Forwards Edging Closer to Double Digits; New England Seeing $20-Plus Winter Strips
With warnings of higher prices still to come, natural gas forward prices mounted hefty gains for the trading period ending May 25, with prices nearing $9.00/MMBtu across much of the country and cresting $10.00 in California, according to NGI’s Forward Look. June fixed prices averaged 65.0 cents higher on the week, while the balance of…
Cash Prices, June Natural Gas Futures Extend Furious Rally
Natural gas futures on Wednesday soared past $9.000/MMBtu for the first time since 2008 amid worries that fragile supplies may prove inadequate to meet summer cooling demand and robust calls for U.S. exports. At A Glance: BREAKING: U.S. EIA reports injection of 80 Bcf natural gas into underground storage for the week ended May 20…
Weak Storage Injection Bolsters Bulls’ Case for Lofty Natural Gas Prices
The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 80 Bcf natural gas into underground storage for the week ended May 20. The result fell short of market expectations and historic averages, driving Nymex natural gas futures higher. Ahead of the print, the June contract was up 13.1 cents at $9.124/MMBtu. The…
Natural Gas Futures Climb Early as Market Awaits Impact of EIA Data, June Expiry
As the market braced for potential price-moving impacts of both updated government inventory data and the prompt month contract expiration Thursday, natural gas futures advanced in early trading. The expiring June Nymex contract was up 22.6 cents to $9.197/MMBtu at around 8:50 a.m. ET. July was up 19.4 cents to $9.187. The Energy Information Administration…
Amid Choppy Trade Near Expiration, June Natural Gas Futures Post Another Gain
Natural gas futures fluctuated Tuesday as traders assessed an inconsistent production recovery, a mixed domestic weather outlook, ongoing uncertainty in Europe and the looming expiration of the June contract. The June Nymex gas futures contract ultimately settled at $8.796/MMBtu, up 5.2 cents day/day. It had gained 66 cents a day earlier. The July contract ticked…