U.S. natural gas futures facing Mexican buyers and sellers were a roller coaster this week as prices jumped early in the week as October rolled off the board followed by a dive on Wednesday when November took over as the front month. “Markets are very, very nervy,” a Mexico City-based trader told NGI’s Mexico GPI.…
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Imports of natural gas from the United States continue to dominate Mexico’s natural gas supply, but they have dropped slightly this month on lower demand. To date this month, Wood Mackenzie reported that Mexico imports from the United States were 6.7 Bcf/d, 2% lower than in June. NGI calculations had the 10-day average through Thursday…
With markets still awaiting more clarity on the potential demand impacts of continued measures to contain the coronavirus outbreak, natural gas futures were trading lower early Monday. The April Nymex contract was down 4.0 cents to $1.564/MMBtu as of around 8:40 a.m. ET.
After minor changes in the latest forecasts, and coming off a sharp rally a day earlier, natural gas futures were trading slightly lower early Tuesday. The expiring September Nymex futures contract was down 2.1 cents to $2.209/MMBtu shortly after 8:40 a.m. ET.
Cooler forecast trends over the weekend kept the pressure on natural gas futures prices early Monday. The expiring August Nymex futures contract was trading 0.8 cents lower at $2.161/MMBtu shortly after 8:30 a.m. ET.
Forecasts advertising early season cooling demand in the Southeast weren’t enough to impress natural gas futures traders early Monday. The June Nymex contract was off 1.8 cents to $2.562/MMBtu as of 8:30 a.m. ET.
October natural gas futures were set to open Thursday about 1.2 cents higher at around $2.875/MMBtu, bolstered by warmer overnight weather trends as the market looks ahead to the release of today’s government storage report.
September natural gas futures were set to open Wednesday close to even at around $2.971/MMBtu, holding onto most of the prior day’s gains as hot weather and storage deficits remain supportive for prices.
Permian Basin midstream operator Oryx Midstream Services II LLC’s subsidiaries have extended a joint open season through Aug. 31 to gauge support for a crude oil gathering and trunkline system to carry supply from the Delaware sub-basin. The open season was to have concluded on Thursday (Aug. 9). For information contact Oryx’s Carlos Mata, senior vice president of business development, at (432) 253-7756.
April natural gas was set to open Wednesday about 4 cents lower at around $2.748 as overnight weather models trended milder, particularly in the forecast for late March.