Next-Day

Physical gas for Tuesday delivery was mostly higher in Monday trading as weakness in New England markets was unable to offset widespread gains in the Marcellus, Gulf, Midcontinent and California.

Physical natural gas for Tuesday delivery on average rose a dime Monday, with gains widespread and only a handful of points in the loss column. Particularly strong were East and Northeast points, boosted by high next-day power prices and forecasts calling for Tuesday readings as much as 20 degrees above normal.

Natural gas deliveries for Thursday added 4 cents on average nationally in Wednesday’s trading, with ongoing warm temperatures in the Midwest keeping buyers busy and next-day deliveries up by a nickel or more.

Natural gas prices for Wednesday delivery overall averaged 4 cents lower in Tuesday’s trading. Nearly all points posted modest declines, and at eastern points, soft power pricing gave traders little incentive to make aggressive next-day gas buys.

Natural gas prices for Friday delivery overall on average shed a penny Thursday. Traders generally elected to get their deals done before the typically volatile futures trading associated with the release of morning storage report.

Natural gas for physical delivery Tuesday overall on average surged 18 cents as traders had to adjust to a changed weather outlook, a firm power pricing environment, and a strong screen. East and Northeast locations led the charge higher, but no delivery point was left unscathed by the tempest of soaring prices. Futures reached the highest point in 3 weeks, and at the close of futures trading September had risen 9.5 cents to $3.463 and October was higher by 9.4 cents to $3.487. September crude oil eased 36 cents to $107.10/bbl.

Physical natural gas prices nationally on Monday for Tuesday delivery meandered lower by a couple of pennies, with the East mixed and Northeast posting modest gains and most other points falling a couple of pennies or more. Northeast temperatures were expected to stay below seasonal norms, and traders saw the gains as within a normal margin of error. At the close, September natural gas had fallen 2.8 cents to $3.319 and October was off 2.9 cents to $3.346. September crude oil slid 38 cents to $106.56/bbl.