Forward Look

June natural gas forward prices shot up an average 10 cents from May 18-24 as sweltering heat on tap across the United States in the coming weeks was expected to continue driving strong power burns.

Natural gas forward prices for June rose an average 6 cents from May 11 to 17 as weather forecasts for the second half of May leaned toward more widespread warmth, with weak pricing likely to incentivize more power demand. Meanwhile, a storage report that confirmed the market’s concerns about current deficits weighed on forward prices through the summer, according to NGI’s Forward Look.

It was a slow start to the week as strong production and bearish weather kept natural gas forward prices in check, but Thursday’s reported build to storage inventories gave the market a much-needed jolt as it fell far short of expectations. June averaged 11 cents higher from May 4 to 11, according to NGI’s Forward Look.

Natural gas prices for June fell an average of 5 cents from April 27-May 4 as an increasingly bearish weather outlook for the remainder of May added to pressure already being brought on by heavy producer selling, according to NGI’s Forward Look.

May natural gas forward prices rose an average 8 cents from April 20 to 26 as increasing storage deficits put the ball back in market bulls’ court, albeit temporarily, according to NGI’s Forward Look.

May natural gas forward prices fell an average 9 cents from April 13-19 as rising temperatures, declining demand and robust dry gas production wreaked havoc on the market, according to NGI’s Forward Look.

Average natural gas prices for May failed to budge between April 6 and 12 as strong dry gas production in the Lower 48 continues to duke it out with ever-growing storage deficits, according to NGI’s Forward Look.

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.

May natural gas forward prices climbed an average 9 cents from March 23 to 28 as sustained cold weather trends for early April supported the market despite near-record production, according to NGI’s Forward Look.