One week ago, all eyes were on a cold front that sent temperatures plunging to lows in the teens and 20s and forward prices rallying to double-digit gains. This week, most of those gains were wiped out as weather forecasts suggested the rest of November would see only brief periods of cold, and overall, lower-than-normal demand, according to NGI’s Forward Look.
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Articles from Forward Look
Winter At Last! Plunging Temps Send NatGas Forwards Surging Past Key Resistance…Briefly
Natural gas forwards markets shot up an average 25 cents between Nov. 3 and 9 as all the hype about an approaching cold front came to fruition late in the week, sending temperatures plunging to near-record lows, according to NGI’s Forward Look.
NatGas Forwards Slide Third Straight Week Despite Late-Week Uptick
Near-record production and little cold weather to speak of combined to take their toll on natural gas forward markets this week, sending December prices down an average 2 cents between Oct. 27 and Nov. 2, according to NGI’s Forward Look.
November NatGas Forwards Slide 6 Cents on Strong Output, Mild Temps
November natural gas forward prices fell an average 6 cents between Oct. 20 and Oct. 26 as record production and elusive cold weather forecast for the coming weeks weighed heavily on a market anxious to get the winter heating season underway, according to NGI’s Forward Look.
Weather Outlooks Disappoint; November NatGas Forwards Tumble 12 Cents On Average
With long-term weather forecasts pointing to possibly another warm winter ahead, natural gas forward markets fell an average 12 cents between Oct. 13 and 19, according to NGI’s Forward Look.
Weather Firmly In Control Of NatGas Forwards; Nov. Adds 10 Cents
At long last, it appears that wintry weather will finally makes it way across the middle of the country in the weeks to come, and with enough staying power to send November natural gas forward prices up an average 10 cents from Oct. 6 to 12, according to NGI’s Forward Look.
Shoulder-season Slump Sends November NatGas Down 8 Cents
November natural gas forward prices shed an average 8 cents from Sept. 29 to Oct. 5 as traders who were hoping for some early-season cold quickly realized any sustained heating demand would prove elusive through at least the middle of the month, according to NGI’s Forward Look.
Bearish Storage Injection, Record Production Snag Rug From Under NatGas Forwards
Despite a decidedly bullish start to the week thanks to strong cash markets, natural gas forward prices for October ultimately dropped an average 10 cents from Sept. 15 to 21 as a bearish storage injection and record production put the prompt month under heavy selling pressure, according to NGI’s Forward Look.
Plump Storage Injection Too Little Too Late to Stop NatGas Forwards Rally
Natural gas forward prices for October rose an average 17 cents from Sept. 8-14 as weather forecasts called for warmer-than-normal temperatures to finish out the month, according to NGI’s Forward Look. But the market’s realization that demand destruction caused by Hurricane Irma may have been overestimated also weighed on forwards this week.
No Way But Down For NatGas Forwards Amid Improving Storage, Returning Supply and Mild Temps
Natural gas prices for October fell an average 12 cents from Sept. 1 to 6 as a trifecta of factors created the only logical path for forward markets during the short holiday week, according to NGI’s Forward Look. NGI was closed Sept. 4 in observance of Labor Day.