natural gas storage

Spot natural gas prices fell like dominoes during the week’s four-day trading period from Nov. 30-Dec. 3 for December gas delivery amid widespread mild weather that sapped demand. At the end of the trading period, daily gas was trading below $4.00/MMBtu at several locations across the United States, with NGI’s Weekly Spot Gas National Avg.…

In an unsurprising move, natural gas futures bounced back from a four-day decline to finish the week firmly in positive territory. With a boost from technicals, colder changes in the weather models sparked a 7.6-cent rally for the January Nymex gas futures contract, which settled at $4.132. February also climbed 7.6 cents to $4.073. At…

Natural gas futures could not hold onto early gains Thursday after the latest government storage data failed to generate any buzz in the market. Profit-taking managed to push January Nymex gas futures to a $4.335/MMBtu intraday high early in the session, but with a stubbornly mild weather forecast, the contract eventually settled at $4.056, down…

Against a backdrop of relentless selling earlier in the week, natural gas futures mounted a modest recovery in early trading Friday as weather models increased heating demand projections overnight. The January Nymex contract was up 11.7 cents to $4.173/MMBtu at around 8:50 a.m. ET. Both the American and European modeling increased gas-weighted degree day expectations…

Natural gas futures could not hold onto early gains Thursday after the latest government storage data failed to generate any buzz in the market. Profit-taking managed to push January Nymex gas futures to a $4.335/MMBtu intraday high early in the session, but with a stubbornly mild weather forecast, the contract eventually settled at $4.056, down…

Natural gas futures extended their losses for a third straight day as weather models continue to portray a pattern that is more reflective of springtime conditions than winter. After shedding more than 90 cents over the previous two sessions, the January Nymex gas futures contract plunged another 30.9 cents to settle at $4.258/MMBtu. Spot gas…

The Energy Information Administration (EIA) reported a 59 Bcf withdrawal from natural gas storage inventories for the week ending Nov. 26, which included the Thanksgiving holiday. The draw was nearly dead on with estimates ahead of the EIA report, but much steeper than historical pulls. This initially helped to maintain a modest boost seen along…

Continued meager weather-driven demand expectations kept the pressure on natural gas futures in early trading Thursday as the market awaited the latest round of weekly government inventory data. The January Nymex contract was off 9.8 cents to $4.160/MMBtu at around 8:50 a.m. ET. Estimates ahead of the latest Energy Information Administration (EIA) storage report, scheduled…

Natural gas prices lost ground in December bidweek trading as markets mulled rising production levels and waning weather-driven demand across much of the Lower 48. NGI’s December Bidweek National Avg. shed 24.0 cents month/month to $5.890/MMBtu. Still, that more than doubled the $2.720/MMBtu average for December 2020, when prices were recovering from the demand destruction…