With snowmen built up this week in the Midwest and Northeast melting into nothing but a puddle of water amid a rise in temperatures, spot natural gas prices disintegrated during the Oct. 17-21 trading period. NGI’s Weekly Spot Gas National Avg. plunged 54.0 cents to $4.985/MMBtu. Perhaps in an even bigger reflection of the overarching…
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Natural Gas Futures Plunge Below $5 as Weather, Fundamentals ‘Bad as You’ll Ever See’
Natural gas futures collapsed further on Friday, settling at a level not seen in seven months as widespread warmth was seen continuing longer, limiting gas demand. The November Nymex natural gas futures contract closed out the week at $4.959/MMBtu, down 39.9 cents from Thursday’s close and off $1.494 from a week earlier (Oct. 14). At…
What Tools are Used by the Natural Gas Industry to Forecast Prices? Listen Now to NGI’s Hub & Flow
Click here to listen to part three of NGI’s three-part Hub & Flow podcast series that discusses how the North American natural gas market works and details behind the tools that are available to successfully navigate it. Trying to understand where the price of natural gas at the Henry Hub is headed? In part one,…
Natural Gas Futures Weakness Continues; Freeport, Cold Weather Could Resuscitate Market
After some hiccups earlier in Thursday’s session, natural gas futures managed to finish in the red for a fifth straight trading day as traders digested another massive storage injection. The November Nymex gas futures contract settled at $5.358/MMBtu, down 10.4 cents on the day. December slid 9.0 cents to $5.838. Spot gas prices continued to…
Natural Gas Futures Sell-Off Extends to Five Straight Sessions, but Cold December ‘Good Bull Recipe’
After some hiccups earlier in Thursday’s session, natural gas futures managed to finish in the red for a fifth straight trading day as traders digested another massive storage injection. The November Nymex gas futures contract settled at $5.358/MMBtu, down 10.4 cents on the day. December slid 9.0 cents to $5.838. Spot gas prices continued to…
Natural Gas Forward Prices Plummeting Amid Ample Storage Builds, Mild Temps
Buckling under the weight of one triple-digit shoulder season storage injection after another, natural gas forwards sold off sharply during the Oct. 13-19 trading period, NGI’s Forward Look data show. Regional forwards price action from coast to coast reflected a market reconsidering the extent of winter upside risks in light of a rapidly shrinking inventory…
U.S. Storage in South Central ‘Production Region’ Filling Up Quickly, Sinking Natural Gas Prices – Mexico Spotlight
Stubbornly robust U.S. natural gas production and warmer weather has meant that storage inventories in the United States are filling up fast. In the South Central region north of Mexico, natural gas storage inventories are almost back to within five-year average levels. On Thursday, U.S. Energy Information Administration (EIA) data showed that the South Central…
Increasingly Bearish Fundamentals Drag Natural Gas Futures Lower Through 2023
Natural gas bears extended their streak to four on Wednesday, slashing futures prices even further amid renewed disagreement in the models regarding a late-October weather system as well as lofty production. The November Nymex gas futures contract settled at $5.462/MMBtu, down 28.3 cents on the day. Notably, steep double-digit losses extended through all of 2023.…
Natural Gas Futures See-Saw Following Fifth Straight Triple-Digit Storage Injection
The U.S. Energy Information Administration (EIA) reported an injection of 111 Bcf natural gas into storage for the week ended Oct. 14. The result marked the fifth consecutive triple-digit increase and continued an autumn trend of narrowing deficits to historic averages. The build easily surpassed the 73 Bcf five-year average injection and the year-earlier increase…
Natural Gas Futures Extend Losses Ahead of Potential Fifth-Straight Triple-Digit Build
As traders braced for another deficit-shrinking triple-digit storage build from the latest round of government inventory data, natural gas futures added to their losses in early trading Thursday. After dropping 28.3 cents in the previous session, the November Nymex contract was off another 4.4 cents to $5.418/MMBtu as of around 8:50 a.m. ET. December was…