Forward Look

Natural gas forward prices for July fell an average 2.8 cents between June 9 and 15 as a late-week rally failed to overcome earlier market weakness. Still, Thursday’s more than 12-cent surge offered a glimmer of hope to the market that had, up until this point, had little reason to believe $3 gas was all but in the rearview mirror, according to NGI’s Forward Look.

Natural gas forwards markets barely budged this week, rising just a couple of cents across the curve as last week’s dramatic fall appeared to necessitate a breather and a lack of clear indication of weather patterns for the remainder of June left market players rather indecisive, according to NGI’s Forward Look.

Natural gas forwards markets couldn’t catch a break following the Memorial Day holiday as forecasts for another week-plus of mild weather and a double whammy of a storage injection proved to be the straw that broke the camel’s back.

Natural gas forward prices fell at most locations across the United States for the period between May 19 and 25 as bearish storage news and a lack of clarity in long-term weather forecasts pressured markets, according to NGI’s Forward Look.

Natural gas forward prices for June plunged by an average 24 cents between May 12 and 18 as forecasts for cooler weather for the rest of May took center stage, according to NGI Forward Look.

It may be shoulder season, but word of a federally-ordered halt to construction on a portion of a major natural gas pipeline expected to be in partial service this summer was enough to send natural gas forwards markets into a frenzy last week. A bullish miss on the week’s storage report elevated markets even more firmly into the black, with both June and July forward prices averaging 11 cents higher between May 5 and 11, according to NGI Forward Look.

It may be shoulder season, but word of a federally-ordered halt to construction on a portion of a major natural gas pipeline expected to be in partial service this summer was enough to send natural gas forwards markets into a frenzy this week. A bullish miss on this week’s storage report elevated markets even more firmly into the black, with both June and July forward prices averaging 11 cents higher between May 5 and 11, according to NGI Forward Look.

June natural gas forward prices fell an average 8 cents from April 28 to May 2 as bearish near-term weather and producer selling pressured the markets, according to NGI Forward Look.

The front of the natural gas forward curves pulled off a surprise gain of nearly 3 cents on average between April 21 and 27 despite a multitude of headwinds facing the market, according to NGI’s Forward Look.