After sinking near the 200-day moving average at the end of last week, natural gas futures bounced back with a vengeance Monday thanks to stronger liquefied natural gas (LNG) feed gas demand and strong cash prices. The November Nymex gas futures contract hit a $2.727/MMBtu intraday high before settling at $2.615, up 17.7 cents from…
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November Natural Gas Prices Still Volatile, but Finish Flat on ‘Little Drama’ in EIA Data
November Nymex natural gas futures swung in a 15-cent range Thursday before ultimately finishing the day exactly where they started. After government data showed an on-target storage report, the prompt month went on to settle Thursday flat at $2.527. December, however, fell 5.5 cents to $3.062. The stability at the front of the Nymex curve…
November Natural Gas Futures Give Up More Ground Ahead of Storage Report
Natural gas futures on Wednesday crept lower, following a steep drop the previous day, as traders mulled weather-driven demand concerns, stagnated liquefied natural gas (LNG) levels, and the potential for a higher storage injection with the federal government’s pending report Thursday morning. The November Nymex contract shed 3.4 cents day/day and settled at $2.527/MMBtu. The…
Natural Gas Futures Retrench as Weather Demand Diminishes, October Contract Expires
Natural gas futures dipped even lower Monday after posting a double-digit decline to close out the prior week, as weather-driven demand was forecast to fade and the October contract rolled off the board. Futures dropped early, swung back into positive territory by early afternoon and then dropped again to finish in the red. The October…
October Natural Gas Futures Extend Rally as Storage Surplus Fears Subside
Natural gas futures soared for a second consecutive day on Thursday after a light storage build provided a positive surprise and liquified natural gas (LNG) levels further recovered from interruptions imposed by a furious storm season in the Gulf of Mexico (GOM). The October Nymex contract jumped 12.3 cents day/day and settled at $2.248/MMBtu. A…
As LNG Declines and Beta Strikes, Natural Gas Futures Fail to Find Momentum
Natural gas futures on Tuesday effectively punctuated the steep losses posted a day earlier, as markets absorbed news of lower liquefied natural gas (LNG) levels and expected demand impacts from Tropical Storm Beta, the latest severe weather development to menace the Gulf of Mexico (GOM). The October Nymex contract fell a tenth of cent day/day…
October Natural Gas Futures Drop amid LNG Setback, Storms and Cooler Temps
Natural gas futures plunged on Monday as traders digested weaker liquified natural gas (LNG) volumes, potential demand destruction from a new tropical storm and forecasts for milder temperatures in the Midwest. The October Nymex contract settled at $1.835/MMBtu, down 21.3 cents day/day. It marked the first time since early August that the prompt month closed…
LNG Strength, Production Dips Ahead of Sally Drive October Natural Gas Futures Higher
Natural gas futures posted a second consecutive day of gains Tuesday as liquefied natural gas (LNG) levels remained strong and production was curtailed as slow-moving Hurricane Sally was expected to impose torrential rains and flooding. The October Nymex contract settled at $2.362/MMBtu, up 5.2 cents day/day. November rose one-tenth of a cent to $2.741. Spot…
Natural Gas Futures Jump as LNG Volumes Rise, Hurricane Sally Approaches GOM
Natural gas futures advanced on Monday as U.S. liquefied natural gas (LNG) demand strengthened and Hurricane Sally barreled to the Gulf of Mexico (GOM), compelling production shut-ins. The October Nymex contract climbed 4.1 cents day/day and settled at $2.310/MMBtu. November, however, declined four-tenths of a cent to $2.740. Spot gas prices jumped as temperatures sizzled…
October Natural Gas Futures Sputter as Expectations Mount for Hefty Storage Levels
Natural gas futures dropped lower Thursday after the latest government report on gas stockpiles showed that storage is filling quickly as cooler fall temperatures sweep over swaths of the Lower 48. The October Nymex contract settled at $2.323/MMBtu, down 8.3 cents day/day. November fell 7.5 cents to $2.798. NGI’s Spot Gas National Avg. fell 15.5…