November natural gas weakened again Friday as traders digested reports of additional drilling for natural gas and a production dynamic that continues to point to greater output. At the close November had fallen 8.1 cents to $3.666 and December had given up 5.3 cents to $3.962. November crude oil retreated $2.94 to $79.20/bbl.
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Buyers, Sellers At a Standoff; September Flat
September natural gas futures were unchanged Friday as traders reported that both buyers and sellers were not motivated to take action at current price levels. September ended flat at $3.931 and October had risen 0.6 cent to $3.912. October crude oil gained 7 cents to $85.37/bbl.
Heat No Deterrent to Stout Storage Build; August Drops
August natural gas retreated Thursday as traders acknowledged a robust increase in gas storage even as major energy markets were subjected to brutal heat. At the close August had fallen 10.5 cents to $4.395 and September had shed 10.7 cents to $4.362. August crude oil added 73 cents to $99.13/bbl.
Nothing Really Has Changed, Analyst Says; August Makes Big Jump
August natural gas scored a double-digit gain Friday as traders noted what seems to be a never-ending series of forecasts calling for above-normal temperatures. At the close August was up 16.8 cents to $4.546 and September had added 16.2 cents to $4.520. August crude oil made an advance of its own adding $1.55 to $97.24/bbl.
Long-Term Storage Deficit Seen Growing; August Gains
August natural gas futures rose Monday as traders anticipated the long-term storage deficit becoming wider. At the close August futures had risen 5.2 cents to $4.363 and September had added 4.1 cents to $4.371. August crude oil bounded higher, posting a gain of $1.95 to $96.89/bbl.
Traders Upbeat, Yet August Retreats
August natural gas fell in light, pre-holiday trading as traders still maintained an upward bias but noted that healthy production levels still remain a formidable force for the bulls to counter. At the close August had fallen 6.3 cents to $4.311 and September had slipped 6.3 cents as well to $4.330. August crude oil softened 48 cents to $94.94/bbl.
Tropical System Upgraded; July Expiration Upbeat
July natural gas futures expired on a firm note Tuesday as traders had to factor in a slightly higher weather premium as a tropical system was upgraded and near-term weather forecasts called for warm temperatures. At the close July natural gas rose 10.1 cents to $4.357 and August added 9.0 cents to $4.354. August crude oil surged $2.28 to $92.89/bbl.
Cash Decline Resumes on Mild Weather, ‘No Demand’
After enjoying a one-day national rebound in natural gas cash averages on Thursday, values were tugged lower on Friday as traders were unable to ignore Thursday’s futures plunge.
Traders See Risky Storage Scenario, Yet July Drops
Despite an increasingly bullish storage situation, July natural gas continued lower Friday as traders see a return of more mild summer weather. At the close July had fallen 8.7 cents to $4.325, which is 43.2 cents lower than the previous week’s close.
July Crawls Higher, But Sentiment Wavers
July natural gas futures inched higher Tuesday as traders see the market needing to overcome difficult technical resistance before any trend higher can be resumed while others see the market at a turning point. At the close July had advanced a miserly 0.4 cent to $4.831 and August futures were up 0.1 cent to $4.858. July crude oil rose 8 cents to $99.09/bbl.