Natural gas futures reversed early gains Tuesday as weaker physical prices squashed initial optimism from another producer curtailment to send the prompt contract to its fifth straight decline. At A Glance: Output falls to 100.6 Bcf/d Warmth spreads to East National Avg. sinks to 2024 low The April Nymex contract settled at $1.714/MMBtu, down 4.5…
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February Natural Gas Futures Mount Momentum, Rally Second Day; Spot Prices Spike
Natural gas futures found firmer footing Wednesday as looming winter weather trumped vigorous production volumes and expectations for another government report showing stout supplies in storage. At A Glance: Lean storage draw expected Mid-January freeze looms Production remains elevated Following a 5.4-cent gain to open regular trading for 2024 the day before, the February Nymex…
Natural Gas Futures Fail to Sustain Modest Momentum Amid Supply/Demand Imbalance; Cash Prices Climb
Natural gas futures advanced early on Wednesday but flipped negative and descended more as the session wore on, with benign weather demand, robust production and elevated supplies in storage overshadowing export strength. At A Glance: Modest withdrawal expected Production remains elevated LNG activity near record mark Coming off a 1.1-cent loss the prior day, the…
Hounded by Production and Supply, Natural Gas Futures Dogged Retreat Continues
Nymex January natural gas futures deflated further Tuesday amid storage glut woes driven by strong production and the absence of winter weather. At A Glance: January futures sink another 12.0 cents Mild weather pattern continues Storage surpluses seen widening The front-month contract closed the regular trading session down 12.0 cents at $2.311/MMBtu, reversing steeper losses…
Natural Gas Futures, Cash Prices Forge Further Ahead and Notch Third Day of Gains
Natural gas futures rallied on Wednesday, extending a week-to-date win streak amid advancing cold in the North, strengthening spot prices and solid LNG demand. At A Glance: Production off 2023 high Colder northern weather Light injection expected The November Nymex gas futures contract gained 3.9 cents day/day and settled at $3.010/MMBtu. December rose 5.4 cents…
Sumas Natural Gas Prices Poised for Winter Volatility Given Aging Pipelines, Supply Competition
Sharp price spikes are likely to continue this winter for natural gas delivered to Washington state’s Sumas hub, reflecting a market plagued by deficient infrastructure struggling to keep up with widespread demand growth in the West, according to traders and analysts. Located on the Washington State border with British Columbia (BC), Canada, the Sumas hub…
Natural Gas Futures Fall, Cutting Win Streak Short Ahead of Inventory Data; Spot Prices Slip
Following back-to-back gains, natural gas futures faltered Wednesday, held in check by meager export volumes and expectations for the next government inventory report to show continued stout supplies in underground storage. At A Glance: 50s Bcf storage build expected Production remains wild card Weather demand strengthens The August Nymex gas futures contract settled at $2.632/MMBtu,…
Natural Gas Futures Snap Losing Streak – Barely – Advance on Freeze-Off Threats, Soaring Spot Prices
Natural gas futures eked out a gain Wednesday amid worries that a fierce and widespread winter freeze could force production interruptions, ending a three-day run of steep losses. The January Nymex gas futures contract settled at $5.332/MMBtu, up six-tenths of a cent day/day. February rose 2.2 cents to $5.238. At A Glance: Prompt month gains…
Natural Gas Futures Flop Following Production Bump, Mixed Weather Outlook; Cash Prices Climb
Natural gas futures gave up ground Wednesday as traders absorbed reports of increased production, uneven weather-driven demand and the potential to avert a railroad strike. At A Glance: Gas production bounces back Markets mull evolving weather Analysts see storage pull in 80s Bcf The January Nymex natural gas futures contract, a day after edging ahead…
Models Tease ‘Cooler Turn’ Beyond Mid-March; Natural Gas Futures Trade Slightly Higher Early
Natural gas futures were trading slightly higher early Monday as weekend forecasts hinted at a cooler shift later this month; April Nymex futures were trading 2.3 cents higher at $2.882/MMBtu just after 8:30 a.m. ET.