May natural gas futures moved to the front of the curve for the first time Thursday and took a beating after a bearish storage print affirmed supply/demand imbalance concerns heading into shoulder season. The May Nymex gas futures contract lost 8.0 cents day/day and settled at $2.104/MMBtu. June fell 9.0 cents to $2.358. NGI’s Spot…
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Oversupply Concerns Drag Natural Gas Forward Prices Lower
The selloff continued for the majority of U.S. natural gas forward markets in the final week of March as production proved too lofty amid declining weather-driven demand and healthy inventory levels. The April contract rolled off the board between 10 and 20 cents lower, while the May contract – which took over the prompt-month position…
Expiring April Natural Gas Futures Fell Below $2 as Downward Price Pressure Endures
The April Nymex natural gas futures contract floundered on its final day as the front month – a third consecutive loss – as the intersection of robust production and waning demand again captured traders’ attention. April futures on Wednesday fell 3.9 cents day/day to close at a monthly low of $1.991/MMBtu. It then rolled off…
Bearish Storage Print Sustains Downward Pressure on Natural Gas Futures
The U.S. Energy Information Administration (EIA) posted a withdrawal of 47 Bcf natural gas from storage for the week ended March 24. The result fell short of median estimates in polls while inventories remained well above average levels. Natural gas futures faltered in the wake of the report. Ahead of the print, May Nymex futures…
Natural Gas Futures Slide Ahead of Tight Withdrawal from EIA as Forecasts Trend Milder
Despite expectations for a rare surplus-shrinking result from the latest government inventory data, natural gas futures skidded lower in early trading Thursday as forecasts pointed to mild springtime demand that would preserve a healthy storage cushion. The May Nymex contract was down 6.1 cents to $2.123/MMBtu at around 8:45 a.m. ET. Expectations for Thursday’s Energy…
Ahead of Expiration, April Natural Gas Futures Falter Again; Spot Prices Slip
Beleaguered natural gas futures fell a second day, hampered again by robust supplies and weakening weather-driven demand. The April Nymex gas futures contract lost 5.8 cents day/day and closed at $2.030/MMBtu. May futures settled at $2.147, down 6.8 cents. NGI’s Spot Gas National Avg. slipped 9.5 cents to $2.470. Production held above 100 Bcf/d on…
Expiring April Natural Gas Contract Tests Sub-$2 Early as Weather Patterns Underwhelm
Weighed down by a healthy storage cushion as the market exits the withdrawal season, natural gas futures continued to grind lower in early trading Wednesday. The expiring April Nymex contract was down 3.9 cents to $1.991/MMBtu at around 8:40 a.m. ET. May was off 2.2 cents to $2.125. Natural gas prices have been “tempting the…
Strong Production, Fading Demand Hold Down April Natural Gas Futures
Natural gas futures kicked off the new week on a low note, slumping alongside warmer trends in weather forecasts, lighter LNG demand and continued robust production levels. At A Glance: Front month sheds 12.8 cents Production levels hold steady Weather outlook adds warmth The April Nymex gas futures contract settled at $2.088/MMBtu, down 12.8 cents…
Natural Gas Futures Tumble Early Following Milder Weekend Weather Trends
Bearish weekend weather trends put pressure on natural gas futures in early trading Monday as analysts predicted potential volatility heading into the front-month expiration early this week. The expiring April Nymex contract was down 10.7 cents to $2.109/MMBtu at around 8:40 a.m. ET. May was off 10.4 cents to $2.257. Weather models trended warmer over…
Natural Gas Futures, Spot Prices Find Path Forward as Forecasts Tilt Colder
Natural gas futures forged ahead Friday, boosted by colder forecasts and expectations for back-to-back bullish storage prints relative to historic norms. The April Nymex gas futures contract settled at $2.216/MMBtu, up 6.2 cents day/day. May rose 7.8 cents to $2.361. At A Glance: Bullish storage print in cards Supplies hold at robust levels Week-ahead weather…