With Texas heat receding to less extreme levels, and with a warm — but not sweltering — summer temperature outlook in the latest forecast maps, natural gas forwards prices pulled back during the June 22-28 trading period, NGI’s Forward Look data show. After surging 25.8 cents higher in the week-earlier period, Henry Hub gave back…
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Summer Weather, U.S. Rig Count Keys to Longer Term Forecast for Natural Gas Prices, Says Marex Analyst
As goes the weather, so goes demand for U.S. natural gas supply this summer and beyond, with global turmoil a continuing wildcard, according to a veteran industry executive. Lower gas production has been attributed in part to planned maintenance, but the U.S. gas rig count also bears watching, Marex North America LLC’s Steve Blair, senior…
Potential Production Response Propels Natural Gas Forwards Higher
With a sharp decline in upstream activity foreshadowing a potential curtailment in domestic production, and with summer cooling demand just around the corner, natural gas forwards rallied during the May 11-17 trading period, NGI’s Forward Look data show. Week/week fixed price gains of 20 cents or more were widespread throughout the Lower 48; benchmark Henry…
Weather Events No Match for Natural Gas, Electric System Upgrades, Says DTE Energy
Detroit-based DTE Energy is continuing to upgrade its natural gas system after recovering from “the most challenging two-week storm period” DTE ever faced, CEO Jerry Norcia said during the first quarter earnings call. “Michigan’s weather has dramatically changed in recent years,” Norcia said during the quarterly update on Thursday (Apr. 27). For example, he noted…
Cool Late-April Outlook Sends Natural Gas Futures Swinging Higher, while Cash Rebounds
Natural gas futures strengthened Monday as weather models trended cooler for late April, providing support to a market awash in supply but also seeing a surge in LNG demand. The May Nymex gas futures contract settled at $2.275/MMBtu, up 16.1 cents on the day. June futures climbed 13.9 cents to $2.444. At A Glance: Production…
Natural Gas Futures Prices Bounce Higher on Cooler Late April Forecast, Short-Covering
Still on a sugar high from too many Cadbury eggs over the Easter holiday weekend, natural gas futures prices soared as weather data showed cool weather returning to the Lower 48 in about a week’s time. With some short-covering likely aiding the rally, the May Nymex natural gas contract settled Monday’s regular session at $2.172/MMBtu,…
Natural Gas Futures Struggle Amid Looming Expiry, Shifting Weather; Spot Prices Climb
Natural gas futures kicked off the new week on a low note, slumping alongside warmer trends in weather forecasts, lighter LNG demand and continued robust production levels. At A Glance: Front month sheds 12.8 cents Weather outlook adds warmth Production holds at 100 Bcf/d The April Nymex gas futures contract settled at $2.088/MMBtu, down 12.8…
Oversold Natural Gas Futures Eke Out Small Price Gain, but Cash Continues to Retreat
Coming off a week in which natural gas futures tumbled nearly 30 cents at the front of the curve, the Nymex March contract appears to be trying to find a bottom. The prompt month traded mostly range bound throughout Monday’s session before ultimately settling 4.7 cents higher at $2.457/MMBtu. At A Glance: Production recovering Weather…
North American Natural Gas Price Outlook – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow. NGI senior editors Andrew Baker and Kevin Dobbs discuss the outlook for North American natural gas prices in 2023. They address factors including a mild weather start to the year, robust U.S. production, the Freeport LNG outage and the potential for future…
Freezing Forecasts and Freeport Momentum Send Natural Gas Futures, Spot Prices Sailing
Natural gas futures forged ahead Monday, rebounding from a 7% drop the previous week, as forecasts for colder air late this month and early next galvanized bulls. News Monday that a key export facility was another step closer to reopening after a fire last year added to the momentum. At A Glance: Prompt month gains…