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Natural Gas Futures, Cash Prices Fall as Ida Slashes Demand; Storm Tees Up ‘Tame September’

Natural Gas Futures, Cash Prices Fall as Ida Slashes Demand; Storm Tees Up ‘Tame September’

Though still early for a full assessment of former Hurricane Ida, natural gas futures traders on Monday focused squarely on the destruction of natural gas demand brought about by the catastrophic Category 4 storm. The October Nymex gas futures contract, on its first day in the prompt position, settled at $4.305, off 8.3 cents from…

August 30, 2021
September Natural Gas Futures See-Saw Along with Demand, Production and Hurricane Potential

September Natural Gas Futures See-Saw Along with Demand, Production and Hurricane Potential

Natural gas futures on Wednesday soared more than 10 cents early, then retreated into negative territory before flattening out and edging back up at the close of trading. The roller coaster action developed amid a decline in production and estimates for a relatively light storage increase, as well as an evolving weather picture and the…

August 25, 2021
Natural Gas Futures Start Week with Big Rally After Volatile Session; Cash Strengthens

Natural Gas Futures Start Week with Big Rally After Volatile Session; Cash Strengthens

Big fluctuations continued along the Nymex natural gas futures curve early Monday as traders wrestled with hotter shifts in the latest weather models and a step up in production. The September contract, which rolls off the board later this week, settled at $3.945, up 9.4 cents on the day. October also picked up 9.4 cents…

August 23, 2021
Technical Trading, Tightening Balances Drive Rebound for Natural Gas Futures; KMI Pipe Blast Rocks Western Cash

Technical Trading, Tightening Balances Drive Rebound for Natural Gas Futures; KMI Pipe Blast Rocks Western Cash

A technical bounce fueled by lower wind generation sent natural gas futures higher to start the week. The September Nymex gas futures contract settled Monday at $3.946, up 8.5 cents from Friday’s close. October climbed 8.5 cents to $3.960. Spot gas prices were mixed on Monday, with mostly mild weather across the country. However, big…

August 16, 2021
As Peak Summer Heat Passes, Natural Gas Forwards Slump

As Peak Summer Heat Passes, Natural Gas Forwards Slump

With the hottest temperatures of the summer expected to soon reside in the market’s rearview, natural gas forwards receded during the Aug. 5-11 trading week, including large markdowns in the western United States, NGI’s Forward Look data show. Discounts of around a dime or more in fixed price prompt-month forwards were the norm for most…

August 13, 2021
Natural Gas Futures Plunge to $3.93 on Ho-Hum EIA Storage Stat, Weak Cash

Natural Gas Futures Plunge to $3.93 on Ho-Hum EIA Storage Stat, Weak Cash

Natural gas futures fell back below $4.00 on Thursday after the latest government storage figure came in on the higher side of expectations. With a cool front on the way and cash prices weaker, the September Nymex gas futures contract settled at $3.933, off 12.6 cents. October slid 12.3 cents to $3.948. At A Glance:…

August 12, 2021
Natural Gas Forwards Slide as Market Senses Summer’s Swan Song

Natural Gas Forwards Slide as Market Senses Summer’s Swan Song

With the hottest temperatures of the summer expected to soon reside in the market’s rearview, natural gas forwards receded during the Aug. 5-11 trading week, including large markdowns in the western United States, NGI’s Forward Look data show. Discounts of around a dime or more in fixed price prompt-month forwards were the norm for most…

August 12, 2021
EIA’s 49 Bcf Storage Build Drags Natural Gas Futures Below $4.00

EIA’s 49 Bcf Storage Build Drags Natural Gas Futures Below $4.00

The Energy Information Administration (EIA) reported an on-target 49 Bcf injection into natural gas storage inventories for the week ending Aug. 6, quickly sending futures prices to around $4.00/MMBtu. The 49 Bcf build was on par with major survey estimates ahead of the report and came in not too far removed from historical levels. Last…

August 12, 2021
Cooler Weather Forecast, Persistently Softer LNG Volumes Send Natural Gas Futures Prices Tumbling

Cooler Weather Forecast, Persistently Softer LNG Volumes Send Natural Gas Futures Prices Tumbling

After another run toward $4.200/MMBtu last week, natural gas futures took a nosedive on Monday as long-range weather forecasts continued to cool while liquefied natural gas (LNG) demand remained well off recent highs. The September Nymex gas futures contract settled at $4.060, off 8.0 cents from Friday’s close. October dropped 7.9 cents to $4.075. Spot…

August 9, 2021
September Natural Gas Prices Hit $4.20 Ahead of Potentially Lowest Injection of Season

September Natural Gas Prices Hit $4.20 Ahead of Potentially Lowest Injection of Season

After two solid days in the black, natural gas futures prices reached new heights on Wednesday as production continued to decline, and hot weather remained firmly in next week’s forecast. The September Nymex gas futures contract hit a $4.205 intraday high before settling at $4.158, up 13.1 cents from Tuesday’s close. At A Glance: Next…

August 4, 2021
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