natural gas storage

An anticipated barrage of Arctic air could usher in one more blast of winter weather this month, eating into underground inventories of natural gas and providing an injection of upward momentum into the market when price bulls need it the most. This would follow a late-January and early-February run of mild temperatures across most of…

Updated forecasts weakened heating demand expectations associated with an arriving mid-February pattern shift, and natural gas futures, already trading at a discount, continued to drop in early trading Friday. Coming off a 5.0-cent decline in the previous session, the March Nymex contract was off another 4.9 cents to $1.868/MMBtu at around 8:45 a.m. ET. Both…

March Nymex natural gas futures ended 5.0 cents lower Thursday as a widely anticipated storage withdrawal print from the U.S. Energy Information Administration (EIA) did little to quell bearish market sentiment. At A Glance: Futures tumble 5.0 cents Storage offers no surprise Spot gas down on weather The front-month contract settled at $1.917/MMBtu after trading…

The U.S. Energy Information Administration (EIA) reported a natural gas storage withdrawal of 75 Bcf for the week ending Feb. 2, which was bearish against expectations and historical averages. Ahead of the 10:30 a.m. ET government report, March Nymex futures were trading down 2.2 cents at $1.945/MMBtu after crashing through key $2.000 support a day…

Gulf Coast Midstream Partners LLC (GCM) has filed an application with Texas regulators to build the region’s first new salt dome natural gas storage facility in more than a decade. The proposed Freeport Energy Storage & Sequestration Hub (FRESSH) project in Fort Bend County, TX, initially would be permitted for five caverns by the Texas…

Natural gas futures continued to grind lower early Thursday as traders braced for an unseasonably light drawdown from the latest round of government inventory data. The March Nymex contract, after falling below the $2.000/MMBtu threshold on Wednesday, was down another 2.5 cents to $1.942 at around 8:45 a.m. ET. The U.S. Energy Information Administration (EIA)…

After several attempts in recent days, March Nymex natural gas futures finally broke through strong support at $2.000/MMBtu and settled for the first time below the mark since March 2023 at $1.967. At A Glance: Futures crash through $2 support Below-average storage draw eyed Lower 48 spot prices mostly down The prompt-month sank as low…

Aside from a brief Arctic chill that temporarily sent heating demand soaring in mid-January, weather this winter has largely disappointed natural gas price bulls. Near-record production that kept supply well above average levels compounded matters. The March natural gas futures contract on Tuesday settled at $2.009/MMBtu, down 7.3 cents on the day. The prompt month…

March Nymex natural gas futures ended nearly unchanged on the plus side in the week’s opening session as the market locked onto near-term weather forecasts for mild conditions ahead of an expected blast of mid-February cold. At A Glance: Futures flat Supply worries Spot gas up The front-month contract settled at $2.082/MMBtu, less than 1.0…