Natural gas forward prices remained largely range bound in mid-July, but blazing heat out West led to huge, double-digit gains in the region for the rest of summer. Still, with a persistently large storage surplus and lackluster cooling demand across most of the rest of the country, August fixed prices averaged a moderate 11.0 cents…
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Less Extreme Heat Sees Natural Gas Forwards Prices Ease Lower
With Texas heat receding to less extreme levels, and with a warm — but not sweltering — summer temperature outlook in the latest forecast maps, natural gas forwards prices pulled back during the June 22-28 trading period, NGI’s Forward Look data show. After surging 25.8 cents higher in the week-earlier period, Henry Hub gave back…
Toasty Texas Temps Propel Natural Gas Forward Gains
Sustained sweltering heat over Texas helped stir bullish sentiment, promoting broad-based gains for regional natural gas forwards during the June 15-21 trading period, NGI’s Forward Look data show. As the Lone Star State heat wave firmed up the cooling demand outlook just in time for the official start of summer, July fixed prices at benchmark…
Natural Gas Forwards Sink as Storage Rises, June Heat Disappoints
As natural gas markets restlessly awaited the arrival of more impressive cooling demand, regional forwards tumbled from coast to coast during the May 25-31 trading period, NGI’s Forward Look data show. July fixed prices at benchmark Henry Hub shed 30.6 cents for the period to end at $2.267/MMBtu. Discounts of around 25-35 cents were common…
With Production Not Backing Down, Natural Gas Forward Prices Soften Absent Summer Heat
Stubbornly high production maintained its grip on natural gas forward curves during the May 18-24 period, with June prices averaging 20.0 cents lower, according to NGI’s Forward Look. With weather-driven demand at seasonal lows and storage inventories remaining at a surplus to historical norms, forward contracts dropped 16.0 cents on average for the balance of…
Power Burn Expected to Lift U.S. Natural Gas Prices This Summer, EIA Says
Domestic natural gas consumption for power generation this summer will be among the highest on record, second only to last summer, according to projections from the Energy Information Administration (EIA). In its latest Short-Term Energy Outlook (STEO), published last week, the agency said it expects U.S. natural gas consumption for electricity generation to average 38…
Lackluster Weather Demand Crushes Summer Natural Gas Prices in New England
Natural gas forward prices found some footing during the May 4-10 period as the majority of U.S. locations were supported by strong power burns and easing production, according to NGI’s Forward Look. Key Northeast markets, however, continued to slide ahead of a multi-week span of mild weather that may expand already plump storage inventories in…
Bears in Control of Natural Gas Forward Prices for Now, but Key South Central Region Already Tightening
Natural gas forward markets continued to face fierce headwinds in early May, with prices selling off sharply through 2024, according to NGI’s Forward Look. Henry Hub paved the way as June forward prices fell 25.0 cents from April 27-May 3 to reach $2.172 and the balance of summer (June-October) slid 21.0 cents to $2.390, Forward…
Natural Gas Forwards Slide as Shoulder Season Temperatures Leave Market Waiting on Summer Heat
With late spring cold waning, but convincing signs of early summer heat absent from the latest forecasts, regional natural gas forwards lost ground during the April 20-26 trading week, NGI’s Forward Look data show. Henry Hub fixed prices for June delivery gave up 9.0 cents for the period to finish at $2.132/MMBtu. Fixed price discounts…
A Few Western Hubs Moderate as Chilly April Lifts Natural Gas Forward Prices Overall
Drawing support from spring chills and a strengthening weather-driven demand outlook, regional natural gas forwards generally gained ground during the April 13-19 trading period, though a few western hubs moderated sharply week/week. May fixed prices at Henry Hub climbed 12.9 cents to end the period at $2.225/MMBtu, mirroring gains in Nymex futures and setting the…