October natural gas is expected to open a penny lower Thursday morning at $3.05 as traders anticipate the release of government storage data showing injections well above historical averages. Overnight oil markets were mixed.
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Physical natural gas for delivery Friday slipped lower in Thursday’s trading, with robust losses in the Northeast as well as softness in Appalachia and the Midwest offsetting modest strength in the Midcontinent, California, and the Rockies. The NGINational Spot Gas Average fell 1 cent to $2.92.
Physical natural gas prices and futures prices parted ways in Monday trading as gas for next-day delivery surged and futures slumped.
Weekend and Monday natural gas rocketed higher in trading Friday, led by Herculean advances at eastern market points.
Physical gas for delivery Thursday moved little in Wednesday’s trading as gains in Texas, the Southeast and Appalachia narrowly offset weakness in the Northeast, Rockies and California. The NGI National Spot Gas Average rose 1 cent to $3.61.
Natural gas futures worked higher Thursday morning after the Energy Information Administration (EIA) reported a storage withdrawal that was slightly less than what traders were expecting.
Both natural gas physical and futures values vaulted higher in Monday’s trading in spite of a lack of supporting fundamental factors. Most of the day’s gains can be attributed to a strong screen and a sympathetic move with the petroleum sector, which has exceeded traders expectations.
August natural gas is set to open unchanged Thursday morning at $2.86 even though traders anticipate the release of well below-average storage data and a supportive weather environment. Overnight oil markets fell.
July natural gas is set to open a penny higher Thursday morning at $2.60 as traders see no change in the weather landscape and await the release of government inventory figures. Overnight oil markets dropped.
Natural gas for Friday delivery moved little as traders, for the most part, got their deals done before the morning’s Energy Information Administration (EIA) inventory report.