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…
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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.…
Natural Gas Futures Resume Sell-Off, while Mild Weather Sends Cash Lower
After a brief pause on Thursday, natural gas futures resumed their steep slide to close out the week amid a generally weak near-term outlook. The May Nymex gas futures contract settled Friday at $6.534/MMBtu, off a noteworthy 42.3 cents day/day. June futures fell 43.3 cents to $6.663. At A Glance: Bears regain control Chilly temps…
Natural Gas Weekly Cash, Futures Markets Diverge as Late-Season Chill Boosts Demand
The spring doldrums the U.S. natural gas market is accustomed to this time of year will have to wait at least another week to materialize in the cash market. Though price gains paled in comparison to recent weeks, NGI’s Weekly Spot Gas National Avg. climbed 31.0 cents during the April 18-22 trading week to $6.785/MMBtu.…
Profit-Taking Sends Natural Gas Futures to Near $6.50; Cash Slides on Mild April Temperatures
After a brief pause on Thursday, natural gas futures resumed their steep slide to close out the week amid a generally weak near-term outlook. The May Nymex gas futures contract settled Friday at $6.534/MMBtu, off a noteworthy 42.3 cents day/day. June futures fell 43.3 cents to $6.663. At A Glance: Weather demand to be light…
Late-Session Bounce Lifts Natural Gas Futures; Cash Softens on Mostly Mild Weather
Natural gas futures were poised to extend their decline for a third straight day after the latest government inventory report showed a bigger-than-expected increase in storage levels for mid-April. A pop late in Thursday’s session, however, lifted the May Nymex gas futures contract to $6.957/MMBtu, up 2.0 cents day/day. June futures tacked on 3.0 cents…
Bulls Buy Dip, Send Natural Gas Futures Modestly Higher Despite Hefty Storage Build
Natural gas futures were poised to extend their decline for a third straight day after the latest government inventory report showed a bigger-than-expected increase in storage levels for mid-April. A pop late in Thursday’s session, however, lifted the May Nymex gas futures contract to $6.957/MMBtu, up 2.0 cents day/day. June futures tacked on 3.0 cents…
Natural Gas Forward Prices Ease Lower as Rally Finally Starts to Lose Steam
As the relentless march higher for natural gas prices finally began to show signs of slowing down, forwards prices recorded discounts throughout the Lower 48 during the April 14-20 trading period, NGI’s Forward Look data show. Fixed prices for May delivery at benchmark Henry Hub eased 6.0 cents lower to end the period a hair…
Natural Gas Futures Slip Further on Steep Rise in Output Seen Later This Year; Cash Prices Decrease
Natural gas futures continued to retreat sharply midweek in yet another display of the market being largely disengaged from fundamentals. After bouncing back to a $7.410 intraday high, the May Nymex gas futures contract settled Wednesday at $6.937/MMBtu, down 23.9 cents from Tuesday’s close. June futures slid 21.2 cents to $7.065. At A Glance: BREAKING:…