Forward Look

Natural gas forwards markets showed no signs of hitting the brakes June 24-30 as scorching temperatures continued to drive power burn and storage data once again reflected a tighter supply-demand balance.

Intense heat and a below-average storage injection lifted natural gas forwards for a fourth straight week, according to NGI’s Forward Look.

Natural gas forward prices picked up a few cents on average between June 10 and 16 despite what some market insiders pegged as a bearish storage report, according to NGI Forward Look.

Natural gas forwards markets tacked on another 20 cents on average between June 3 and 9 as market players were thrown by this week’s reported storage injection from the U.S. Energy Information Administration, according to NGI’s Forward Look.

Natural gas prompt-month forward prices posted double-digit gains between May 27 and June 2 as strong cash, bullish storage and supportive weather amped up the market, according to NGI’s Forward Look.

There are two ways to look at the most recent natural gas storage report.

Natural gas forwards markets were lower across the board between May 13 and 19, falling by an average of nearly 7 cents, despite getting a boost from a bullish storage report, according to NGI’s Forward Look.

Temperatures are mild, and storage inventories continue to swell, but a surprise increase in the U.S. Energy Information Administration’s 2016 price forecast was enough to boost natural gas forward markets between May 6 and 12, according to NGI’s Forward Look.

Temperatures are mild, and storage inventories continue to swell, but a surprise increase in the U.S. Energy Information Administration’s 2016 price forecast was enough to boost natural gas forward markets between May 6 and 12, according to NGI’s Forward Look.