July natural gas prices were decidedly lower Monday morning, trading 3 cents lower at $2.915 ahead of the market open despite increasing heat in the near term.
Articles from weather
July natural gas prices remained firmly in the red ahead of market open Tuesday, trading 4.3 cents lower at $2.908 as cooler trends forecast over the next week sent prices sliding for the second day in a row.
July natural gas prices were about 1.5 cents lower Monday ahead of the open, trading at $3.009 settle amid a modest pullback in near-term weather forecasts.
The Energy Information Administration (EIA) reported a 96 Bcf build into storage inventories for the week ending June 8, considerably higher than even the most bearish of expectations. Nymex July natural gas futures initially appeared to take the surprise build in stride as the prompt month barely budged after the storage report’s 10:30 a.m. release.
June natural gas was set to open Tuesday about 3.7 cents higher at around $2.847/MMBtu as the weather outlook overnight showed additional heat risks for the next two weeks, according to forecasters.
May natural gas forward prices fell an average 5 cents between March 30 and April 5 as near-record production and milder weather on tap for the latter part of April dashed any lingering hopes for market bulls, according to NGI’s Forward Look.
April natural gas was set to open Wednesday about 4 cents lower at around $2.748 as overnight weather models trended milder, particularly in the forecast for late March.
February natural gas set to open Friday about 2 cents lower at around $3.172 amid mixed changes overnight in the weather guidance and questions over how much cold could arrive next month.
February natural gas was set to open Friday about 12 cents lower at around $2.759 as forecasters noted warmer changes to the medium- and long-range weather outlooks.
With single-digit lows continuing and forecasts calling for temperatures to plunge below zero on Friday and Saturday in the Pittsburgh region, small and large Appalachian natural gas producers were grappling with frigid temperatures in different ways.