Forward Look

Natural Gas Forwards Rally; Southern Heat Spurs Regional Buying Pressure 

Natural Gas Forwards Rally; Southern Heat Spurs Regional Buying Pressure 

Natural gas forwards rallied during the May 9-15 trading period as the market keyed in on the upside potential of summer power burns. Front month fixed prices at Henry Hub climbed 22.8 cents to finish the period at $2.422/MMBtu, Forward Look data show.  Interestingly, near-month basis differentials weakened at numerous other Lower 48 trading points…

May 16, 2024
Brightening LNG Demand Outlook Helping to Lift Natural Gas Forwards; West Texas Production Constrained

Brightening LNG Demand Outlook Helping to Lift Natural Gas Forwards; West Texas Production Constrained

North American natural gas forwards rallied across the 2024 strip during the May 2-8 trading period as sagging production readings and an incrementally supportive LNG export outlook stirred bullish optimism. Benchmark Henry Hub set the tone, with June fixed prices rallying 25.5 cents week/week to reach $2.194/MMBtu, according to NGI’s Forward Look. Negative Basis in…

May 9, 2024
Natural Gas Forwards Slide as Pipe Maintenance Impacts West Texas Outlook

Natural Gas Forwards Slide as Pipe Maintenance Impacts West Texas Outlook

Amid continued downward pressure from excess storage inventories, and with cooling demand yet to ramp up in earnest, regional natural gas forwards drifted lower during the April 25-May 1 trading period, according to NGI’s Forward Look. June fixed prices at Henry Hub exited the period at $1.939/MMBtu, down 4.6 cents week/week. In line with the…

May 2, 2024
Natural Gas Forwards Slide Overall as West Texas Outlook Brightens for Bulls

Natural Gas Forwards Slide Overall as West Texas Outlook Brightens for Bulls

With excess storage inventories continuing to hang over the market through the shoulder season, natural gas forwards declined notably at the front of the curve for most regions during the April 18-24 trading period, data from NGI’s Forward Look show. May fixed prices at benchmark Henry Hub exited the period at $1.653/MMBtu, down 6.1 cents…

April 25, 2024
Heavy Supply Overhang, Enduring West Texas Price Pressure Weigh Down Natural Gas Forwards

Heavy Supply Overhang, Enduring West Texas Price Pressure Weigh Down Natural Gas Forwards

Lofty levels of natural gas in storage and a severe Permian Basin supply glut continued to cloud the outlook for prices. Natural gas forward prices fell in every region during the April 11-17 trading period, NGI’s Forward Look data show. Levels remained well below the $2.00/MMBtu level across the Lower 48, with exceptionally weak West…

April 18, 2024
Natural Gas Forwards Steady as Market Waits for Summer Cooling Demand

Natural Gas Forwards Steady as Market Waits for Summer Cooling Demand

With the market weighing mild shoulder season weather and bloated storage against weaker production, regional natural gas forward prices generally held steady at the front of the curve during the April 4-10 trading period. Fixed prices at benchmark Henry Hub finished the period at $1.888/MMBtu for May delivery, up 4.3 cents week/week, according to NGI’s…

April 11, 2024
Natural Gas Forwards Entering Shoulder Season in Search of Recovery

Natural Gas Forwards Entering Shoulder Season in Search of Recovery

Regional natural gas forward prices advanced during the March 28-April 3 trading period as the start of the spring injection season found market bulls searching for signs of green shoots after a bitter winter. May fixed prices at Henry Hub rallied 12.1 cents to $1.845/MMBtu, setting the pace for similar front-month gains across much of…

April 4, 2024
Natural Gas Forwards Continue to Struggle as Market Wrestles with Storage Glut

Natural Gas Forwards Continue to Struggle as Market Wrestles with Storage Glut

As an outsized storage surplus continued to hang over the outlook, regional natural gas forward prices shed value during the March 21-27 trading period, NGI’s Forward Look data show. Front month fixed prices at benchmark Henry Hub fell 12.7 cents for the period to end at $1.577/MMBtu. However, the benchmark also saw double-digit losses for…

March 28, 2024
Permian Natural Gas Forward Prices Plummet; Other Markets Seeing Basis Improvement

Permian Natural Gas Forward Prices Plummet; Other Markets Seeing Basis Improvement

Natural gas forward prices pushed modestly higher at the front of the curve during the March 14-20 trading period, particularly in the Northeast and Appalachia, data from NGI’s Forward Look show. Meanwhile, spring contracts at hubs near the congested Permian Basin struggled under the weight of weak near-term fundamentals. Fixed prices for April delivery at…

March 21, 2024
Selling Weighted to Front of Natural Gas Forward Curves on Weak Near-Term Fundamentals 

Selling Weighted to Front of Natural Gas Forward Curves on Weak Near-Term Fundamentals 

Against a backdrop of soft near-term fundamentals, exceptionally weak spot market pricing and plummeting Nymex futures, regional natural gas forwards came under widespread bearish pressure during the March 7-13 trading period, NGI’s Forward Look data show. For a market still threading the needle between near-term oversupply and anticipated future demand growth, selling was weighted toward…

March 14, 2024
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