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Natural Gas Forwards Slide Amid ‘Sleepy Shoulder Season,’ but Fundamentals ‘Still Look Solid’

Natural Gas Forwards Slide Amid ‘Sleepy Shoulder Season,’ but Fundamentals ‘Still Look Solid’

A major revision in the April weather forecast coming back from the Easter weekend took a big chunk out of natural gas forward prices for the period ending April 8. The short work week ended with the May contract down an average 10.0 cents and the balance of summer (May-October) off 7.0 cents, according to…

April 9, 2021
Natural Gas Forwards Hibernating as Mild Spring Weather Takes Hold

Natural Gas Forwards Hibernating as Mild Spring Weather Takes Hold

Natural gas forward markets remained quiet as they closed out March, with near-record export demand going head to head with generally weak domestic demand. The May contract, which took over the prompt-month position on Tuesday, finished the period ending Wednesday (March 31) essentially flat from where it averaged on March 25, according to NGI’s Forward…

April 1, 2021
May Natural Gas Futures Dip Lower Amid Weak Domestic Demand Outlook

May Natural Gas Futures Dip Lower Amid Weak Domestic Demand Outlook

Robust U.S. export activity held at lofty levels, but natural gas futures fell again on Wednesday as traders mulled domestic demand weakness and the potential for a bearish government inventory report on Thursday. The May Nymex contract settled at $2.608/MMBtu, down 1.5 cents day/day. It declined 3.0 cents a day earlier, its first session as…

March 31, 2021
LNG Demand, Supply Interruption Fuel April Natural Gas Futures

LNG Demand, Supply Interruption Fuel April Natural Gas Futures

Natural gas futures on Wednesday gained ground for the third time in four sessions amid steady demand for U.S. liquefied natural gas (LNG) and concern about delayed export deliveries after a huge container ship was grounded in the Suez Canal. The April Nymex contract climbed 1.0 cent day/day and settled at $2.518/MMBtu. May followed suit,…

March 24, 2021
Luck of the Irish Eludes April Natural Gas Futures

Luck of the Irish Eludes April Natural Gas Futures

Natural gas futures dropped back into the red on Wednesday as traders mulled forecasts for mild spring weather and its dampening effect on demand along with polls that showed expectations for only a modest storage withdrawal. The April Nymex contract declined 3.4 cents day/day and settled at $2.528/MMBtu. May fell 4.2 cents to $2.555. The…

March 17, 2021
Natural Gas Forward Prices Slip as Market Eyeing Near-Term Bottom

Natural Gas Forward Prices Slip as Market Eyeing Near-Term Bottom

Natural gas prices trimmed about a nickel or so from the forward curve as spring appears to have sprung a couple of weeks early. The April contract was down 6 cents on average for the March 4-10 period, while the summer strip (April-October) was down 4.0 cents, according to NGI’s Forward Look. Similar losses were…

March 12, 2021
After Historic Winter, Texas on Track for Near-Record Summer Heat

After Historic Winter, Texas on Track for Near-Record Summer Heat

From the Arctic to the Sahara, Texas is expected to experience quite the swing in temperatures this year. A preliminary summer forecast issued by WeatherBell Analytics LLC is projecting a hot summer centered in the Lone Star State. “Our summer outlook calls for above-normal temperatures for most of North America,” said chief forecaster Joe Bastardi.…

March 5, 2021
Small Gains for Natural Gas Forwards as LNG Demand Roars Back; More Upside May Wait Until After Spring

Small Gains for Natural Gas Forwards as LNG Demand Roars Back; More Upside May Wait Until After Spring

Shoulder season may be setting in across U.S. natural gas forward markets weeks ahead of schedule, with modest price changes seen across the country, according to NGI’s Forward Look.  A quick return to business as usual following last month’s historic winter freeze combined with near-perfect temperatures to drive April forward prices up only 6.0 cents…

March 5, 2021
March Natural Gas Expires Lower as Warmth Dominates Weather Forecasts

March Natural Gas Expires Lower as Warmth Dominates Weather Forecasts

A reversion back to the warm weather pattern that has dominated most of the winter sank March natural gas prices a little more as it rolled off the board. The March Nymex gas futures contract slipped 2.5 cents, expiring at $2.854. The incoming prompt April contract fell a steeper 6.2 cents to $2.795. Spot gas…

February 24, 2021
Pioneer Natural’s Permian Production Slightly Dented by Icy Blast in Texas

Pioneer Natural’s Permian Production Slightly Dented by Icy Blast in Texas

The harsh winter weather encountered in Texas last week took a bite out of Permian Basin giant Pioneer Natural Resources Co.’s oil production, but the company should make up the loss and more in 2021, CEO Scott Sheffield said Wednesday. The winter storm last week knocked out about 30,000 b/d of oil output, but most…

February 24, 2021
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