NYMEX

Natural Gas Futures Steady Early as Market Mulls Supportive Late-Season Cooling

Natural Gas Futures Steady Early as Market Mulls Supportive Late-Season Cooling

Natural gas futures hovered close to unchanged early Wednesday as modest late-season cooling remained supportive for a market working through a significant storage glut exiting winter. After turning in two straight positive sessions to open the work week, including a 4.1-cent gain on Tuesday, the April Nymex contract was trading flat at $1.744/MMBtu as of…

March 20, 2024
Natural Gas Technicals Suggest Price Support as Shorts Cut Bets

Natural Gas Technicals Suggest Price Support as Shorts Cut Bets

Natural gas markets are bouncing this week after several technical indicators flashed support, including a third week of speculators cutting net short positioning. “April has established near-term technical support in the $1.64 area here in recent days, and with slow stochastics approaching overbought territory, that should offer an additional layer of support as well,” said…

March 19, 2024
Natural Gas Futures Advance Amid Late Season Cooling, Production Weakness

Natural Gas Futures Advance Amid Late Season Cooling, Production Weakness

A cooler weather outlook and continued evidence of receding production volumes helped lift natural gas futures in early trading Tuesday.  Building on a 4.8-cent rally in the previous session, the April Nymex contract was up 4.9 cents to $1.752/MMBtu as of 8:43 a.m. ET. Natural gas futures “caught a modest bid on Monday, with a…

March 19, 2024
Colder Forecast, Tighter Balances Lift Natural Gas Futures in Early Trading

Colder Forecast, Tighter Balances Lift Natural Gas Futures in Early Trading

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…

March 18, 2024
Natural Gas Futures Steady Early on Potential Freeport Restart, Supportive Storage

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…

March 15, 2024
Natural Gas Futures Slightly Lower as Early Injection from EIA a Possibility

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…

March 14, 2024
Natural Gas Technicals Pointing Toward Bottom as Downside Momentum Continues

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…

March 12, 2024
Natural Gas Futures Bulls Embrace Another Producer Announcing Cuts

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…

March 12, 2024
Natural Gas Futures Limp Into Close, Cash Sinks as Storage Glut Weighs

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…

March 11, 2024
Storage Glut Weighs Down Natural Gas Futures; Cash Prices Flounder — MidDay Market Snapshot

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…

March 11, 2024