With production light and demand steady, natural gas futures on Friday cruised higher for the fourth time in five sessions. The June Nymex gas futures contract settled at $7.244/MMBtu, up 35.6 cents day/day. July advanced 36.1 cents to $7.355. NGI’s Spot Gas National Avg. shed 3.0 cents to $6.525, though prices were up across the…
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Natural Gas Futures Hit the Brakes on Rally, but Long-Term Bullish Outlook Intact
Natural gas futures took a step lower Thursday after three straight days of gains, with production showing signs of recovery amid ongoing maintenance. Some loosening in the latest government inventory data also influenced pricing, sending the June Nymex gas futures contract down 45.1 cents to $6.888/MMBtu. July futures shed 44.2 cents to hit $6.994. Spot…
Natural Gas Futures Called Slightly Higher as Supply Levels Still Seen Lacking
With supply concerns continuing to bolster the bullish case amid some volatile back-and-forth swings, natural gas futures were trading higher early Friday. At around 8:45 a.m. ET, the June Nymex contract was trading around $6.948/MMBtu, up 6.0 cents from the previous settlement. Thursday’s session saw the June contract “rapidly” give back gains recorded during the…
Natural Gas Forwards Climb as Nymex Futures Volatile; European Prices Rattled
In a continuation of an eventful shoulder season marked by supply fears and geopolitical anxieties, the April 21-27 trading period brought futures volatility and broad gains at most natural gas forward trading locations, NGI’s Forward Look data show. Outside of a few hubs in the Rockies, Southwest and Texas, where pipeline maintenance appeared to impact…
Natural Gas Prices Pressured to Upside as Global Market Squeezed by Russia – Mexico Spotlight
Natural gas futures crossed $7.00/MMBtu again this week, and global supply worries gained traction when Russia said it was cutting off gas access to Poland and Bulgaria. Rystad Energy analysts said the action by Russia “should be viewed as a precedent.” Meanwhile, U.S. natural gas production also failed to find momentum, dropping to around 93…
Natural Gas Surges to Close Wednesday, Sending May Futures Expiring 41 Cents Higher
Natural gas futures surged for a third consecutive day against a backdrop of escalating global supply uncertainties after Russia cut off natural gas supplies to two European countries. With domestic fundamentals also tight this week, the May Nymex contract rolled off the board Wednesday at $7.267/MMBtu, up a massive 41.7 cents on the day. At…
Natural Gas Futures Resume Slide Following Smaller-Than-Normal Storage Build
The Energy Information Administration (EIA) reported a 40 Bcf injection into natural gas storage inventories for the week ending April 22, on par with estimates ahead of the report. Futures prices, sharply lower early in Thursday’s session, popped a bit as the report crossed trading desks. The June Nymex contract, on its first day at…
Natural Gas Futures Pare Gains Ahead of EIA Storage; Prices Seen Technically in ‘Neutral Territory’
Natural gas futures pared their recent gains in early trading Thursday as the market prepared to digest updated government inventory data, expected to show a lighter-than-average spring injection. Coming off a 36.1-cent rally in the previous session, the June Nymex contract was down 18.6 cents to $7.153/MMBtu at around 8:50 a.m. ET. The latest Energy…
Another Rally for Natural Gas Futures as Production Sinks Further; Cash Gains Continue
Natural gas futures traders hit the pedal Tuesday, accelerating price gains after the latest production data showed another sharp decline in output. Contract expirations also played into intraday volatility along the Nymex curve, ultimately pushing the May contract up 18.1 cents to $6.850/MMBtu. June futures climbed 17.3 cents to $6.978. Spot gas prices also strengthened…
Production Drop Sends Natural Gas Futures Higher, while Chilly Weather Lifts Cash
Natural gas futures volatility continued ahead of contract expirations this week, with the May Nymex contract up early as freeze-offs in the Rockies over the weekend dented production. The prompt month traded in a nearly 50.0-cent range before settling Monday at $6.669/MMBtu, up 13.5 cents from Friday’s close. June futures rose 14.2 cents to $6.805.…