SoCal Citygate

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…

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 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…

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…

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…

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…

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…

Natural gas futures stumbled for a second session Wednesday as an unusually mild late-January weather forecast took center stage, shifting attention away from ongoing supply disruptions and demand spikes from Arctic cold blasts sweeping across the country. At A Glance: Bullish storage print expected  Next week’s forecasts stay warm Freeze-offs keep supply tight Coming off…

January Nymex natural gas futures tumbled in thin volume trade Tuesday, coming off the extended Christmas holiday weekend and ahead of the contract’s expiration at the close of business Wednesday. The more heavily traded February contract also stumbled as traders positioned in preparation for its move into the lead position. At A Glance: January futures…