August natural gas is set to open flat Thursday morning at $2.90 before release of a government storage report that is expected to continue the trend of storage builds greater than long-term averages. Overnight oil markets rose.
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August natural gas is set to open 4 cents higher Tuesday morning at $2.91 as traders focus on forecasts of warmth now coming into question. Overnight oil markets were mixed.
July natural gas is set to open 7 cents higher Monday morning at $2.66 as weather forecasts call for greater cooling requirements in eastern and Midwest population centers. Overnight oil markets fell.
A new low in California’s worsening drought was reached Monday when state officials reported that the state’s snowpack is down to zero, an inevitability after the measurement of 5% of normal when the same measurements were taken two months earlier.
June natural gas is expected to open 7 cents higher Wednesday morning at $3.02 as traders still see higher trading objectives in reach but within a more volatile framework. Overnight oil markets rose.
June natural gas is set to open flat Monday morning at $3.01 as traders are looking closely at sell hedge programs to take advantage of recent price advances. Overnight oil markets rose.
May natural gas is set to open 7 cents lower Monday morning at $2.46 as traders assess a weakening weather environment and market technicians ponder whether overnight weakness signals a new and lower technical trading landscape. Overnight oil markets eased.
April natural gas is set to open 5 cents lower Wednesday morning at $2.80 as traders see minimal market impact from current weather forecasts and technicians see a deflationary price environment. Overnight oil markets fell.
Gas demand for power generation is expected to rise this spring and summer throughout the West because of lower-than-normal water levels. Earlier in March, California state officials placed snowpack levels at 20% of normal, and the state’s three-year drought has been extended to four years.
February natural gas is expected to open 13 cents higher Wednesday morning at $3.07 as traders note Tuesday’s robust recovery and factor in near-term temperatures well below normal in important markets. A supportive storage report Thursday is also anticipated. Overnight oil markets eased.