natural gas storage

U.S. Pacific regional storage facilities, in contrast to the rest of the Lower 48, limped to the end of winter withdrawal season with the lightest level of natural gas inventories in more than a decade, an analysis by East Daley Analytics found. While weather proved seasonally mild across much of the country in early 2023,…

Oil and gas executives in the Rockies and Midcontinent have once again downwardly revised their expectations for Henry Hub natural gas prices over the near term, according to a new survey by the Federal Reserve Bank of Kansas City. The Kansas City Fed’s quarterly Tenth District Energy Survey gauges current and expected oil and gas…

Natural gas futures pared their recent gains in early trading Wednesday as the market continued to mull the impact on balances of a chilly late April weather pattern. After rallying the past three sessions, including a 9.1-cent gain on Tuesday, the April Nymex contract was down 9.0 cents to $2.276/MMBtu at around 8:40 a.m. ET.…

Bolstered by a stronger late-season heating demand outlook following colder weather model trends over the weekend break, natural gas futures surged higher in early trading Monday. The May Nymex contract was up 13.3 cents to $2.247/MMBtu at around 8:45 a.m. ET. Weather models trended colder over the weekend for days eight through 15 of the…

Natural gas futures ended the week on higher ground as traders digested the latest storage data, which reflected some potentially bullish signals for the market. With some short-covering likely in play ahead of the weekend, the May Nymex gas futures contract settled Friday at $2.114/MMBtu, up 10.7 cents on the day. June futures closed out…

Comfortable April temperatures put downward pressure on regional natural gas forwards during the April 6-12 trading period, with most hubs posting discounts aside from a few locations in the western Lower 48 and in West Texas, NGI’s Forward Look data show. Fixed natural gas prices at benchmark Henry Hub for May delivery shed 6.0 cents…

Supportive storage data ultimately proved not enough to stop another day in the red for natural gas futures. With weather models trending slightly warmer, and plump inventories intact, the May Nymex gas futures contract settled 8.6 cents lower on Thursday at $2.007/MMBtu. June futures slid 7.0 cents to $2.197. Cash prices plummeted across the country,…

With shoulder season balances continuing to point to oversupply and summer cooling demand still weeks away, natural gas futures ventured into sub-$2 territory in early trading Friday. The May Nymex contract was down 3.6 cents to $1.971/MMBtu at around 8:40 a.m. ET. There are “early signs” that natural gas prices could be forming a bottom,…

The Energy Information Administration (EIA) reported a 25 Bcf injection into natural gas storage for the week ending April 7, marking the first build of the summer refill season. Natural gas futures prices were lower ahead of what was expected to be a build near the five-year average of 28 Bcf. The May Nymex gas…