Natural gas futures retreated Monday in a move that was not completely unexpected given the quick pace at which prices rallied last week. With pressure from cooler weather outlooks and weaker power burns, the September Nymex natural gas futures contract settled 8.5 cents lower at $2.153. October fell 8.9 cents to $2.287. Cash prices, however,…
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Natural Gas Futures Slip as EIA Storage Data Reflects ‘Woefully Oversupplied’ Market
Natural gas futures buckled under pressure Thursday after a slightly larger-than-expected storage injection sapped the momentum prices had earlier in the week. The September Nymex futures contract settled at $2.165, down 2.6 cents day/day. October also slipped 2.6 cents to $2.305. Spot gas prices softened across the board as well, dragging down NGI’s Spot Gas…
Natural Gas Futures Post Jaw-Dropping 30-Cent Gain; Cash Strong Too
In a shocking move that appears to be based on more than pure fundamentals, natural gas futures surged as much as 35.5 cents on Monday, busting out of their previous trading range and closing nearly 17% higher than Friday. The September contract reached a $2.154/MMBtu intraday high before going on to settle at $2.101, up…
September Natural Gas Futures Slump After Storage Report, Cooler Weather Forecasts
September natural gas futures sunk on Thursday after a higher-than-expected storage build and forecasts for moderating heat amplified demand and containment concerns as fall approaches. In its first trading day on the books as the prompt month, the September Nymex contract shed 10.1 cents day/day and settled at $1.829/MMBtu. October fell 8.8 cents to $1.991. …
Storm, Cooler Forecasts Chill August Natural Gas Futures
August natural gas futures lost momentum on Monday, as storm activity in the Gulf of Mexico (GOM) ushered in milder temperatures through parts of the central United States and national forecasts shifted cooler. The August Nymex contract fell 7.4 cents day/day and settled at $1.734/MMBtu. September declined 8.1 cents to $1.786. NGI’s Spot Gas National…
August Natural Gas Futures Extend Rally as Demand Picture Brightens
August natural gas futures on Friday continued a rally ignited a day earlier as storage capacity concerns eased and robust power burns pointed to continued strong summer demand. The August Nymex contract gained 2.3 cents day/day and settled at $1.808/MMBtu Friday. That followed a double-digit advance on Thursday, which pushed futures to a two-week high.…
Storage Report Points to Tightening Balance, Igniting August Natural Gas Futures Rally
August natural gas futures advanced on Thursday as a modest storage injection eased containment concerns and overshadowed worries imposed by the ongoing coronavirus pandemic. The August Nymex contract climbed 10.4 cents day/day and settled at $1.796/MMBtu. September rose 11.7 cents to $1.843. NGI’s Spot Gas National Avg. was up 1.0 cent to $1.610. The Energy…
August Natural Gas Futures Find Momentum Amid Expectations for Lower Storage Build
Traders shrugged off early weather concerns Wednesday and nudged August natural gas futures higher as major polls showed expectations for a positive storage injection report that would reflect improved supply/demand balance. The August Nymex contract rose six-tenths of a cent day/day and settled at $1.681/MMBtu. September climbed four-tenths of a cent to $1.718. NGI’s Spot…
August Natural Gas Futures Recover Ground Amid Cooling Demand Expectations, Signs of LNG Improvement
August natural gas futures gathered momentum on Tuesday, buoyed by expectations for strong near-term cooling demand and new indications that U.S. exports could recover later in 2020. The August Nymex contract climbed 3.4 cents day/day and settled at $1.675/MMBtu. September gained 3.0 cents to $1.714. NGI’s Spot Gas National Avg. lost a half-cent to $1.615.…
Under Shadow of Coronavirus, LNG Woes Weigh Down August Natural Gas Futures Despite Positive Storage Report
A favorable storage report was overshadowed on Thursday by a coronavirus resurgence and its potential to keep liquefied natural gas (LNG) exports at depressed levels. The August Nymex contract lost 5.5 cents day/day and settled at $1.723/MMBtu. September fell 4.2 cents to $1.776. NGI’s Spot Gas National Avg. advanced 1.0 cents to $1.680. The U.S.…