Natural gas futures gave back some of Tuesday’s gains Wednesday after TC Energy Corp. said it was able to isolate the impacts of a rupture of its Nova Gas Transmission Ltd. (NGTL) pipeline in Western Canada. At A Glance: NGTL incident is contained Analysts expect moderate injection Production at 98.4 Bcf/d Futures jumped more than…
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Eyes on West Texas Natural Gas as Negative Prices Persist – Mexico Spotlight
North American natural gas prices got short-lived support through a Canadian maintenance event on Tuesday but overall continued to languish at well below $2.000/MMbtu. On Wednesday, the May New York Mercantile Exchange natural gas contract slipped 2.0 cents day/day to settle at $1.712. NGI’s U.S. Spot Gas National Avg. rose 12.5 cents to $1.165. TC…
Canadian Natural Gas Production Holds Strong, on Track for Record Year Despite Price Weakness
Natural gas production held near all-time highs through the first quarter in Canada, even as prices slumped following a mild winter that left supplies in storage at robust levels. That’s because producers are looking beyond near-term weakness and toward an anticipated jump in export demand, according to analysts. LNG Canada is slated to begin operations…
Natural Gas Futures Lower as Market Mulls Soft Demand — MidDay Market Snapshot
Natural gas futures remained lower through midday trading Wednesday as LNG export demand weakness continued to weigh on prices. Physical markets were strengthening somewhat amid modestly cooler weather expected later this week. Here’s the latest: May Nymex futures were off 3.1 cents to $1.701/MMBtu as of 2:01 p.m. ET Pipeline flows to U.S. liquefied natural…
Alberta Pipeline Incident Sends Natural Gas Futures Higher
Natural gas futures jumped higher Tuesday afternoon after reports of a pipeline incident in Alberta broke up an otherwise quiet shoulder season day of trading. At A Glance: TC Energy responds to NGTL incident Production at 97.4 Bcf/d National Avg. back above $1 The May Nymex contract rose 4.1 cents day/day to settle at $1.732/MMBtu.…
Freeport LNG’s Extended Drop in Feed Gas Adds Pressure to U.S. Natural Gas Demand
Flows of natural gas to Freeport LNG have remained at a trickle for a week, fueling market concern that possibly all three trains at the facility could be offline after a reported issue with Train 3 last week. Nominations for natural gas to the liquefied natural gas facility had been reduced to about one-fourth of…
Natural Gas Futures Return Gains as TC Energy Isolates NGTL Rupture in Western Canada
Natural gas futures declined in early trading Wednesday, giving back the gains recorded after an incident on the Nova Gas Transmission Ltd. (NGTL) in Alberta rattled markets and briefly sent prices soaring. The May Nymex contract was down 5.5 cents to $1.677/MMBtu at around 8:40 a.m. ET. Operator TC Energy Corp. on Tuesday said it…
As Temperatures Climb and Heating Demand Fades, May Natural Gas Futures Slump
Lighter shoulder season demand and soft export data overshadowed bullish production estimates and weighed down natural gas futures to kick off trading this week. At A Glance: Weak near-term demand Production remains softer NGI models injection of 55 Bcf The May Nymex gas futures contract on Monday settled at $1.691/MMBtu, down 7.9 cents day/day. Cash…
Natural Gas Futures Steady Early as Market Mulls Sagging Production, LNG Numbers
After tumbling in the previous session, natural gas futures held steady in early trading Tuesday as the market continued to assess apparent weakness in both export and production volumes. The May Nymex contract was trading fractionally lower at $1.690/MMBtu at around 8:45 a.m. ET. The latest daily production estimates from Wood Mackenzie showed domestic output…
Weak LNG Volumes, Mild Weather Sink Natural Gas Futures Early
As weaker export numbers and a mild spring forecast hampered the near-term demand outlook, natural gas futures sank in early trading Monday. After eking out a modest day/day gain on Friday, the May Nymex contract was down 4.8 cents to $1.722/MMBtu at around 8:45 a.m. ET. June was off 5.1 cents to $1.978. The natural…