Supportive weekend weather trends, against a backdrop of tightening underlying fundamentals, helped natural gas futures rebound in early trading Monday. After plunging 8.6 cents in Friday’s session, the April Nymex contract was up 8.8 cents to $1.743/MMBtu as of 8:35 a.m. ET. The American Global Forecast System model added 20 heating degree days (HDD) over…
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Natural Gas Futures Steady Early on Potential Freeport Restart, Supportive Storage
With the market anticipating a bump in export demand, natural gas futures held on to the previous session’s gains in early trading Friday. The April Nymex contract was up 0.7 cents to $1.748/MMBtu at around 8:30 a.m. ET. Indications of an imminent return to service for Freeport LNG’s Train 3, offline since January, helped fuel…
Natural Gas Futures Slightly Lower as Early Injection from EIA a Possibility
As traders prepared to digest updated government inventory data that could reveal an unusually early net injection following blowtorch winter weather, natural gas futures hovered just shy of even early Thursday. The April Nymex contract was trading at $1.648/MMBtu at around 8:35 a.m. ET, off 1.0 cent. May was down 1.3 cents to $1.771. The…
Natural Gas Technicals Pointing Toward Bottom as Downside Momentum Continues
Natural gas market key resistance levels and technical chart patterns are beginning to suggest a possible bullish reversal, but until weather and storage fundamentals turn more supportive, additional downside is expected. Since hitting bottom at a three-and-a-half-year intraday low of $1.511/MMBtu in late February, natural gas futures have attempted to breach the $2.000 barrier, touching…
Natural Gas Futures Bulls Embrace Another Producer Announcing Cuts
Another producer curtailment, coupled with more supportive temperatures into the back half of March, saw natural gas futures pare their recent losses in early trading Tuesday. After falling 4.6 cents in the previous session, the April Nymex contract had gained back 3.4 cents to trade at $1.794/MMBtu as of 8:38 a.m. ET. The early gains…
Natural Gas Futures Limp Into Close, Cash Sinks as Storage Glut Weighs
Natural gas futures fell on Monday for a fourth session as the possibility of an early season storage build later this week outweighed cooler weather trends into late March. At A Glance: NGI models 3 Bcf withdrawal Nymex falls for fourth day Texas cash trades negative again The April Nymex contract settled at $1.759/MMBtu, down…
Storage Glut Weighs Down Natural Gas Futures; Cash Prices Flounder — MidDay Market Snapshot
Natural gas futures retreating through midday trading as expanding storage surplus outweighing cooler temperatures into late March April Nymex contract off 3.6 cents to $1.769/MMBtu as of 2:10 p.m. ET; May down 5.0 cents to $1.873 Lower 48 storage surplus versus five-year average poised to pass 600 Bcf; NGI modeling 3 Bcf withdrawal for week…
Natural Gas Futures Unswayed by Cooler March Temps as Prices Skid Lower
Forecasts flashing cooler weather arriving into the second half of March failed to impress natural gas futures traders early Monday as prices eased lower. The April Nymex contract was down 2.4 cents to $1.781/MMBtu as of 8:47 a.m. ET. A number of near-term factors threatened downward pressure on prices as of early Monday, EBW Analytics…
Less Cooling Seen Later This Month as Natural Gas Futures Add to Losses Early
As updated forecasts weakened a cooler shift for the eastern Lower 48 expected to bring more seasonal weather-driven demand later this month, natural gas futures extended their losses in early trading Friday. After shedding 11.0 cents in the previous session, the April Nymex contract was down another 5.1 cents to $1.767/MMBtu at around 8:40 a.m.…
April Natural Gas Ekes Out Early Gain Amid Hints of Cooler Late March Pattern
Natural gas futures inched higher early Wednesday as updated forecasts hinted at somewhat cooler conditions developing over the eastern Lower 48 into the back half of March. The April Nymex contract advanced to $1.968/MMBtu as of 8:44 a.m. ET, up 1.1 cents. May was trading fractionally higher at $2.101. The American weather model shifted warmer…