SoCal Citygate

SoCal Summer Premiums Ease in Recent Natural Gas Forwards Trading

SoCal Summer Premiums Ease in Recent Natural Gas Forwards Trading

Amid continued downward pressure from excess storage inventories, and with cooling demand yet to ramp up in earnest, regional natural gas forwards drifted lower during the April 25-May 1 trading period, according to NGI’s Forward Look. June fixed prices at Henry Hub exited the period at $1.939/MMBtu, down 4.6 cents week/week. In line with the…

May 3, 2024
Natural Gas Forwards Slide as Pipe Maintenance Impacts West Texas Outlook

Natural Gas Forwards Slide as Pipe Maintenance Impacts West Texas Outlook

Amid continued downward pressure from excess storage inventories, and with cooling demand yet to ramp up in earnest, regional natural gas forwards drifted lower during the April 25-May 1 trading period, according to NGI’s Forward Look. June fixed prices at Henry Hub exited the period at $1.939/MMBtu, down 4.6 cents week/week. In line with the…

May 2, 2024
Natural Gas Futures Treading Water to Close Out Week; Cash Mixed — MidDay Market Snapshot

Natural Gas Futures Treading Water to Close Out Week; Cash Mixed — MidDay Market Snapshot

Natural gas futures were essentially flat through midday trading Friday, with prices seemingly lacking direction amid the competing fundamental trends of sagging export demand and fading production. Here’s the latest: May Nymex futures off fractionally at $1.756/MMBtu at around 2:30 p.m. ET U.S. drops three natural gas rigs in latest Baker Hughes Co. count The…

April 19, 2024
Natural Gas Futures Snap Winning Streak Following Bearish Storage Print; Cash Prices Clunk

Natural Gas Futures Snap Winning Streak Following Bearish Storage Print; Cash Prices Clunk

Natural gas futures on Thursday fumbled away gains made earlier this week following a stronger-than-expected government inventory print and forecasts for benign weather and weak demand ahead. At A Glance: EIA prints 24 Bcf build Production holds lower Weather demand fades Following modest gains over the prior four sessions, the May Nymex gas futures contract…

April 11, 2024
Will Summer Temps Move U.S. Natural Gas Demand? Wind, Solar May Have a Word

Will Summer Temps Move U.S. Natural Gas Demand? Wind, Solar May Have a Word

Natural gas production cuts have stabilized the fuel’s prices by countering weak Lower 48 winter demand, turning the market’s attention to the next big levers for fundamentals: the upcoming summer and added wind and solar capacity. Prompt-month New York Mercantile Exchange futures, trading above the $1.800 level at the start of April, had settled as…

April 1, 2024
April Natural Gas Price Rally Stifled by Weather Outlook, Possible Storage Build; Cash Prices Mixed

April Natural Gas Price Rally Stifled by Weather Outlook, Possible Storage Build; Cash Prices Mixed

April Nymex natural gas futures’ advance was cut short after two days as weather outlooks that supported gains early in the week shifted warmer midweek. Pressure was added while the market braces for a possible small storage injection in the U.S. Energy Information Administration (EIA) storage data that would further widen the inventory overhang. At…

March 20, 2024
‘Stable’ Natural Gas Still Seen Critical to California Energy Mix Despite Hydro Power Rebound

‘Stable’ Natural Gas Still Seen Critical to California Energy Mix Despite Hydro Power Rebound

As California utilities prepare their systems for upcoming summer demand, hydro-electric generation and other renewable resources remain important tools in the state’s energy resource toolbox. However, natural gas is crucial to the stabilization of the power grid, particularly during extreme events, according to state regulators. The California Energy Commission (CEC) is anticipating more robust hydro…

February 28, 2024
Natural Gas Futures Finish at Lowest Level Since March; Cash Prices Stumble

Natural Gas Futures Finish at Lowest Level Since March; Cash Prices Stumble

After several attempts in recent days, March Nymex natural gas futures finally broke through strong support at $2.000/MMBtu and settled for the first time below the mark since March 2023 at $1.967. At A Glance: Futures crash through $2 support Below-average storage draw eyed Lower 48 spot prices mostly down The prompt-month sank as low…

February 7, 2024
March Natural Gas Futures Hold Ground in Debut; Spot Prices Slide

March Natural Gas Futures Hold Ground in Debut; Spot Prices Slide

The March natural gas futures contract held above $2.000/MMBtu Tuesday and closed higher on its first day as the front month, aided by technical levels and daily production declines. At A Glance: Production slips to 104.5 Bcf/d Forecasts stay ‘massively warmer’ Northeast leads cash lower The March Nymex gas futures contract rose 2.3 cents to…

January 30, 2024
February Bidweek Trading Gets Off to Choppy Start Following Record Storage Draw, Lingering Outages

February Bidweek Trading Gets Off to Choppy Start Following Record Storage Draw, Lingering Outages

Spooked by the natural gas market’s third-largest storage withdrawal on record that took a huge bite out of the supply surplus, traders sent February baseload prices higher for several U.S. locations on the first day of bidweek trading, according to NGI’s Bidweek Alert (BWA). Gains were strongest in the West, where California’s SoCal Citygate traded…

January 26, 2024
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