In a volatile stretch for natural gas trading, weekly cash prices ultimately gave up ground after soaring to unsustainable levels earlier in May. NGI’s Weekly Spot Gas National Avg. for the May 9-13 period dropped 68.5 cents to $7.115. A week earlier, it had spiked $1.075 cents to $7.800. The June Nymex natural gas futures…
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Amid Volatile Trade, Natural Gas Futures Fall Short of Fourth Straight Gain
Natural gas futures fluctuated Friday, posting an early double-digit gain before dropping deep in the red by midday amid profit-taking to close out the week. The June Nymex gas futures contract ultimately settled at $7.663/MMBtu, down 7.6 cents day/day. July declined 7.0 cents to $7.765. At A Glance: Traders take profits to close week Cooling…
Natural Gas Futures Survive Volatility, Post Third Straight Gain
Following erratic trading early, natural gas futures rallied for a third consecutive session Thursday on the heels of a moderately bullish storage print and forecasts for ongoing heat in near-term weather patterns. The June Nymex gas futures contract settled at $7.739/MMBtu, up 9.9 cents day/day. July gained 10.8 cents to $7.835. In a volatile week…
Natural Gas Futures Advance Early as Analysts Mull Balances Following Latest Storage Print
As the market continued to mull the balance implications of the latest government inventory data in the context of broader supply adequacy concerns, natural gas futures advanced early Friday. The June Nymex contract was up 11.9 cents to $7.858/MMBtu at around 8:50 a.m. ET. The Energy Information Administration (EIA) on Thursday reported a 76 Bcf…
Natural Gas Futures Extend Winning Ways Amid Supply Worries
Following erratic trading early, natural gas futures rallied for a third consecutive session Thursday on the heels of a moderately bullish storage print and forecasts for ongoing heat in near-term weather patterns. The June Nymex gas futures contract settled at $7.739/MMBtu, up 9.9 cents day/day. July gained 10.8 cents to $7.835. In a volatile week…
Natural Gas Volatility Reigns as North American Summer Nears – Mexico Spotlight
North American natural gas futures were choppy this week as the U.S. supply picture remained unclear and with summer heat just around the corner. Mexican buyers of U.S. gas, meanwhile, should expect even higher prices in the hot months ahead. After a steep three-day drop, the June New York Mercantile Exchange gas futures contract jumped…
Natural Gas Forward Prices Plummet in Major Technical Correction, but Upside Pressure Building
Against a backdrop of persistently wild swings, natural gas forward prices came tumbling down during the trading period from May 5-11, according to NGI’s Forward Look. June fixed natural gas prices averaged $1.130 lower on the week, with both the balance of summer (June-October) and the upcoming winter (November-March) also dropping more than $1.00, Forward…
Natural Gas Futures Post Gains Amid Early Summer Demand
Natural gas futures advanced for a second straight day on Wednesday amid expectations for summer production to trail demand, potentially pressuring storage supplies. The June Nymex gas futures contract gained 25.5 cents day/day and settled at $7.640/MMBtu. July rose 26.0 cents to $7.727. At A Glance: BREAKING: U.S. EIA reports an injection of 76 Bcf…
Natural Gas Futures Fluctuate Following Bullish Storage Print
The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 76 Bcf natural gas into storage for the week ended May 6. The result came in below market expectations, but Nymex natural gas futures volatility persisted. Prior to the report, analysts had expected an injection around 80 Bcf. Bloomberg’s survey landed at a…
June Natural Gas Called Lower Ahead of Latest EIA Report
Natural gas futures pulled back in early trading Thursday as the market awaited the release of updated government inventory data, expected to show a build in line with historical norms. The June Nymex contract was down 17.3 cents to $7.467/MMBtu at around 8:50 a.m. ET. Surveys suggest the Energy Information Administration (EIA) will reveal a…