With the latest forecasts mixed and with analysts monitoring a number of “moving pieces” in the fundamentals outlook, natural gas futures prices were steady early Wednesday. The September Nymex futures contract was trading 0.1 cents lower at $2.217/MMBtu shortly after 8:30 a.m. ET.
Articles from September
September natural gas opened Tuesday about 0.9 cents lower at around $2.867/MMBtu as forecasts overnight continued to show what could be the last real heat of summer waning by the end of next week. The October contract was set to open 1.2 cents lower at around $2.857.
September natural gas futures were set to open Tuesday about 3.6 cents higher at around $2.977/MMBtu as overnight guidance continued to advertise hotter trends, potentially complicating efforts to shrink large inventory deficits.
September natural gas futures were set to open Friday about 2.5 cents higher at around $2.933/MMBtu, bouncing back from the prior session’s storage-driven declines as forecasters noted overnight gains in projected cooling demand.
September natural gas futures were set to open Wednesday about 2.0 cents lower at around $2.939 as weather guidance overnight continued to advertise cooler medium-range trends in the forecast for the East.
September natural gas was set to open a penny lower Wednesday as forecasts shift cooler and the market struggles to build on last week’s gains. Overnight oil markets crept higher.
Natural gas and oil production in the nation’s seven most prolific onshore unconventional plays is expected to continue an upward trend next month that has been in effect for most of the year, according to data from the Energy Information Administration (EIA).
September natural gas was set to open about a penny lower at $2.973 Friday, holding onto most of Thursday’s 10-cent gain as overnight weather data showed little to push the market in either direction. Overnight oil markets were down slightly.
What a difference a week makes. Just a week after plunging by the double digits, natural gas September forward prices vaulted an average 22 cents from Aug. 4 to 10 as weather forecasts became more convincing that the United States will experience more hot weather for the second half of August and into the first week of September.
September natural gas is expected to open flat Monday morning at $2.77 as temperature forecasts changed little over the weekend and a tropical system looks too remote to have a market impact. Overnight oil markets weakened.