Forward Look

Natural Gas Forward Discounts Widespread as February Expected to Bring More Warmth

Natural Gas Forward Discounts Widespread as February Expected to Bring More Warmth

Value continued to erode in regional natural gas forwards markets during the Jan. 26-Feb. 1 trading period as forecasts showed this month was poised to carry over the same warm-dominated themes that have collapsed prices winter-to-date. March fixed prices at benchmark Henry Hub sank 44.7 cents to end the period at $2.473/MMBtu, and regional hubs…

February 2, 2023
Freeport News Fails to Stop Natural Gas Bears from Chomping Away at Forward Prices

Freeport News Fails to Stop Natural Gas Bears from Chomping Away at Forward Prices

With February only days away, the natural gas market may be closing the book on winter – and brushing off news of Freeport LNG’s impending restart – as forward prices continued to soften through the Jan. 19-25 period, according to NGI’s Forward Look. The past week’s trading patterns continued the trends that have played out…

January 26, 2023
Natural Gas Forwards Extend Slide as Warm January Pushes Storage Above Historical Levels

Natural Gas Forwards Extend Slide as Warm January Pushes Storage Above Historical Levels

With mild weather continuing unabated across large swaths of the United States during the Jan. 12-17 period, natural gas forward prices tumbled, according to NGI’s Forward Look. The largest price declines were seen on the West Coast, where a much needed break from the torrential downpours was set to occur. AccuWeather said the pause in…

January 19, 2023
West Coast Natural Gas Forwards Rebound Amid Seemingly Endless Deluge; Northeast Slips Further

West Coast Natural Gas Forwards Rebound Amid Seemingly Endless Deluge; Northeast Slips Further

A divergence in natural gas prices occurred along the forward curve from Jan. 5 through 12, with a relentless stretch of winter weather leading to a recovery in West Coast prices, while springlike conditions on the East Coast sent prices lower there.  February fixed prices ultimately averaged 65.0 cents higher through the period, while the…

January 12, 2023
West Coast Leads Losses for Natural Gas Forwards Prices as Warm January Takes Center Stage

West Coast Leads Losses for Natural Gas Forwards Prices as Warm January Takes Center Stage

Natural gas forward prices continued to plummet during the trading period from Dec. 29-Jan. 4, this time taking West Coast markets along for the ride lower, NGI’s Forward Look showed. After bucking the down trend that began the final week of 2022, West Coast markets led the price declines across the Lower 48 even as…

January 5, 2023
Outside of Elevated West, Natural Gas Forwards Moderate on ‘Balmy’ January Temps

Outside of Elevated West, Natural Gas Forwards Moderate on ‘Balmy’ January Temps

With constrained markets along the West Coast the notable exception, natural gas forwards tumbled during the Dec. 22-28 trading period as winter upside price risks faded on forecasts showing a mild start to 2023. Fixed prices for February delivery at Henry Hub shed 55.3 cents to end the period at $4.698/MMBtu, and numerous hubs throughout…

December 29, 2022
Spiking Western Natural Gas Forward Prices Countered by Discounts Farther East 

Spiking Western Natural Gas Forward Prices Countered by Discounts Farther East 

Winter volatility saw Western natural gas forward hubs post huge gains during the Dec. 15-21 trading period, while expectations for a very mild start to 2023 drove deep discounts elsewhere in the Lower 48, NGI’s Forward Look data show. With intense Arctic cold diving from the Northwest into the heart of the Lower 48, spot…

December 22, 2022
Natural Gas Forward Prices Rise in the East, Fall in the West as Market Braces for Cold

Natural Gas Forward Prices Rise in the East, Fall in the West as Market Braces for Cold

Natural gas forward gains were widespread during the Dec. 8-14 period as forecasts showed Arctic chills sweeping through the eastern two-thirds of the Lower 48 heading into the back half of December. Meanwhile, already-elevated western hubs saw prices moderate, according to NGI’s Forward Look. As the market locked onto the coming cold blast and a…

December 15, 2022
Western Natural Gas Forwards Soar on Cold, Pipeline Constraints Despite Discounts Elsewhere

Western Natural Gas Forwards Soar on Cold, Pipeline Constraints Despite Discounts Elsewhere

Soaring premiums along the West Coast and deep discounts for the rest of the Lower 48 produced a week of varied price action for regional natural gas forwards during the Dec. 1-7 trading period, NGI’s Forward Look data show. Amid reports of a curtailment in volumes flowing through Gas Transmission Northwest’s (GTN) Kingsgate location along…

December 8, 2022
Natural Gas Forwards Mixed as Weather Maps Fail to Impress Overall

Natural Gas Forwards Mixed as Weather Maps Fail to Impress Overall

Reflecting a spectrum of blue and orange temperature projections on weather maps at this early juncture in the season, natural gas forwards trading was mixed during the Nov. 23-Dec. 1 trading period. Strong gains for western markets countered declines throughout much of the eastern two-thirds of the Lower 48, NGI’s Forward Look data show. Fixed…

December 1, 2022
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