U.S. utilities withdrew 51 Bcf natural gas from storage for the week ended March 18, the Energy Information Administration (EIA) reported Thursday. The result fell short of market expectations for a pull in the high 50s Bcf, but futures forged ahead regardless. Ahead of the EIA print, the April futures contract was down 7.3 cents…
weather
Articles from weather
Cash Prices, Natural Gas Futures Falter as Mild Weather Dominates Forecasts
Natural gas prices stumbled on Monday as weather forecasts continued to show mild conditions through late March, likely pushing the domestic market comfortably beyond the peak heating season. The April Nymex gas futures contract shed 6.7 cents day/day and settled at $4.658. May lost 6.4 cents to $4.702. NGI’s Spot Gas National Avg. dropped 56.0…
With Spring Weather Looming Large, April Natural Gas Futures Skid for Third Straight Day
Natural gas prices held in a narrow range Wednesday, flipping between modest gains and losses as traders balanced global supply worries amid the war in Ukraine against the prospect of fading domestic demand. At A Glance: Forecasts call for mild conditions U.S. LNG exports hold near capacity Market expects triple-digit storage pull The April Nymex…
Winter’s End in Sight as Natural Gas Forwards Recede; Ukraine Crisis Drives Uncertainty
With the end of winter in clear view and March forecasts far from threatening, natural gas forward prices retreated throughout the Lower 48 during the Feb. 17-23 trading period, NGI’s Forward Look data show. March fixed price forwards at benchmark Henry Hub shed 9.4 cents during the period to average $4.633/MMBtu. Front month fixed price…
Production Drop, Continued Near-Term Cold Drive Another Gain for Natural Gas Futures
Natural gas futures rallied again midweek as sub-freezing temperatures descended into the Lower 48, resulting in a precipitous decline in production from freeze-offs. The March Nymex contract, which expires on Thursday, settled at $4.623/MMBtu, up 12.5 cents on the day. April climbed 13.2 cents to $4.593. At A Glance: Midcontinent, Permian freeze-offs cut output Storage…
Natural Gas Futures Surge Again, but Price Gains Seen ‘Stretching the Rubber Band Pretty Tight’
Natural gas futures rocketed higher again Wednesday as weather models shocked the market with another move to the colder side. With the potential for temperatures to come in well below normal in early March, the prompt-month Nymex gas futures contract soared 41.1 cents to $4.717/MMBtu. April jumped 33.1 cents to $4.572. At A Glance: Early…
Natural Gas Futures Surge as European Weather Model Shows Winter Chill Lingering Longer; Cash Rallies
Natural gas futures staged a stunning recovery Monday as one of the major weather models added a huge chunk of demand to the late-February forecast. The March Nymex gas futures contract settled on the higher end of its trading range at $4.195/MMBtu, up 25.4 cents from Friday’s close. April jumped 22.5 cents to $4.160. Spot…
Explosive Natural Gas Trading Precedes Arctic Front Barreling Across U.S.
No groundhogs were needed to convince natural gas traders that Old Man Winter was planning to stick around longer across the United States. A biting February forecast combined with strong storage withdrawals, potential supply disruptions and robust export demand to send March Nymex natural gas futures ballooning to $5.501/MMBtu, up 75.0 cents on the day.…
Natural Gas Futures Rally Eighth Consecutive Day as Potential Freeze-Offs Loom Large
Natural gas prices advanced Monday following a fierce winter storm in the East and ahead of another deep freeze that ignited production curtailment fears. The anticipated blasts of cold also amplified expectations for lofty storage withdrawals and sent the March Nymex gas futures contract up 23.5 cents day/day to settle at $4.874. April rose 20.2…
Possible ‘Panic Buying’ Sends Natural Gas Futures Soaring as February Outlook Seen Much Colder
Natural gas futures soared midweek after one of the major weather models staged the largest reversal this winter, resulting in a huge jump in projected demand for the next two weeks. The February Nymex gas futures contract settled Wednesday at $4.277/MMBtu, up 22.4 cents from Tuesday’s close. March rocketed up 14.2 cents to $4.036. At…