With the market anticipating a bump in export demand, natural gas futures held on to the previous session’s gains in early trading Friday. The April Nymex contract was up 0.7 cents to $1.748/MMBtu at around 8:30 a.m. ET. Indications of an imminent return to service for Freeport LNG’s Train 3, offline since January, helped fuel…
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April Natural Gas Futures Gain After Storage Print Exceeds Estimates
The U.S. Energy Information Administration (EIA) on Thursday reported a natural gas withdrawal from storage of 9 Bcf for the week ended March 8, which exceeded expectations and sent futures higher. Ahead of the 10:30 a.m. ET government report, April Nymex futures were trading 2.6 cents higher day/day at $1.684/MMBtu. After the data was released,…
Natural Gas Futures Slightly Lower as Early Injection from EIA a Possibility
As traders prepared to digest updated government inventory data that could reveal an unusually early net injection following blowtorch winter weather, natural gas futures hovered just shy of even early Thursday. The April Nymex contract was trading at $1.648/MMBtu at around 8:35 a.m. ET, off 1.0 cent. May was down 1.3 cents to $1.771. The…
Natural Gas Futures Lose Ground for Sixth Session as Henry Hub Spot Price Sinks to 15-Year Low
Natural gas futures fell Wednesday, pressured lower by weak near-term fundamentals sending cash prices to new lows and a looming government storage report Thursday that could show a bearish early season build. At A Glance: Output rises to 101.0 Bcf/d Henry Hub cash at $1.240 Storage print due Thursday The April Nymex contract settled at…
Natural Gas Market Bracing for Possible Early Storage Injection, Extended Price Decline
What remains of the official natural gas inventory withdrawal season could be limited by the possible net injection into natural gas stocks for the week of March 8. Amid already swollen natural gas supplies, an early injection, although not unprecedented, could send natural gas prices reeling. In its upcoming storage report, the U.S. Energy Information…
Historic Lows for Henry Hub Cash; Natural Gas Futures Flounder — MidDay Market Snapshot
Soft near-term fundamentals keeping pressure on natural gas futures at the front of the curve through midday trading April Nymex contract down 3.7 cents to $1.677/MMBtu as of 1:56 p.m. ET; May off 2.9 cents at $1.794 LNG export demand down to 12.6 Bcf/d in latest Wood Mackenzie estimates Deliveries to Freeport well below capacity…
Natural Gas Futures Traders Not Impressed by March Cooling as Prices Extend Skid
With upcoming cooling seemingly a case of too-little, too-late for natural gas prices, futures losses mounted in early trading Wednesday. After conceding 4.5 cents in the previous session, the April Nymex contract was down another 4.1 cents to $1.673/MMBtu as of 8:47 a.m. ET. Updated projections from Maxar’s Weather Desk showed the eastern half of…
Natural Gas Futures Fall Hard in Reversal of Early Rally — MidDay Market Snapshot
Natural gas futures pull back sharply from early highs as bears reassert control amid mild weather, storage glut April Nymex contract down to $1.696/MMBtu, off 6.3 cents, as of 2:21 p.m. ET Front month reached $1.823 high in morning trading after CNX Resources Corp. announced roughly 30 Bcfe production cut Swift reversal for prices started…
Threat of Early Season Storage Build Chases Natural Gas Futures, Cash Lower
Natural gas futures fell on Monday for a fourth session as the possibility of an early season storage build later this week outweighed cooler weather trends into late March. At A Glance: NGI models 3 Bcf withdrawal National Avg. notches new 2024 low West Texas cash prices flip negative The April Nymex contract settled at…
Natural Gas Technicals Pointing Toward Bottom as Downside Momentum Continues
Natural gas market key resistance levels and technical chart patterns are beginning to suggest a possible bullish reversal, but until weather and storage fundamentals turn more supportive, additional downside is expected. Since hitting bottom at a three-and-a-half-year intraday low of $1.511/MMBtu in late February, natural gas futures have attempted to breach the $2.000 barrier, touching…