natural gas storage

Natural gas futures finished the week on a flat note, despite expectations for robust demand through mid-September and moderating production levels. At A Glance: Prompt month ticks lower Heatwave to drive demand Inventory surplus narrows The October Nymex gas futures contract on Friday shed three-tenths of a cent day/day and settled at $2.765/MMBtu. NGI’s Spot…

With September lining up to deliver plenty of late-season heat, and with storage trends pointing to a shrinking Lower 48 inventory cushion, regional natural gas forwards advanced during the Aug. 24-30 trading period, NGI’s Forward Look data show. Fixed prices at benchmark Henry Hub climbed 20.4 cents week/week to end at $2.793/MMBtu for October delivery,…

Natural gas futures forged ahead most of Thursday, building further momentum after a government inventory report pointed to narrowing storage surpluses and forecasts showed another heatwave on the way in September. Still, the prompt month slipped into the red in afternoon trading amid profit-taking. Coming off the prior session’s 13.4-cent bounce, the October Nymex gas…

California regulators approved an increase in the maximum natural gas storage level allowed at Southern California Gas Co.’s (SoCalGas) Aliso Canyon facility in Los Angeles County to 68.8 Bcf from 41.16 Bcf, the highest amount deemed safe by the California Geologic Energy Management Division (CalGEM). The decision allows SoCalGas to inject more gas into the…

North American natural gas futures showed some upward momentum this week as September heat promised continued support, but the prompt month still fell short of the $3.00/MMBtu mark. The October New York Mercantile Exchange natural gas futures contract debuted strongly on Wednesday and rose 13.4 cents day/day to $2.796/MMBtu. The gains could have been higher…

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 32 Bcf natural gas into storage for the week ended Aug. 25. The result exceeded market expectations but proved lean relative to prior years, leaving Nymex natural gas futures trading in a narrow range. At A Glance: BREAKING: EIA reports 32 Bcf injection…

Natural gas futures held onto their recent gains in early trading Thursday as the market turned its attention to a potentially pivotal government inventory report, one that figured to garner plenty of interest following a bullish surprise in the week-earlier period.  Coming off a 13.4-cent rally in the previous session, the October Nymex contract was…

Natural gas futures pumped the brakes on their modest three-day rally Tuesday as traders eyed the potential demand destruction that could be imposed in the near term by Hurricane Idalia. On its final day on the Nymex futures curve, the September contract rolled off the board at $2.556/MMBtu, down 2.3 cents on the day. October…

As traders gauged market risks associated with Hurricane Idalia’s destructive path through Florida and the Southeast, natural gas futures were trading close to unchanged early Wednesday.  The October Nymex contract was up 1.0 cent to $2.672/MMBtu at around 8:35 a.m. ET. November was off 0.6 cents to $3.056. Hurricane Idalia made landfall in Florida’s Big…