With dangerous heat leaving California electric grid operators struggling to meet heightened demand, natural gas forward prices in the southern part of the state rallied sharply from July 20-26, according to NGI’s Forward Look. Daytime temperatures have lingered at or above the century mark for most of July in parts of California, driving up cooling…
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Record-Setting Heat Drives Massive Gains for Western Natural Gas Forwards Prices
Natural gas forward prices remained largely range bound in mid-July, but blazing heat out West led to huge, double-digit gains in the region for the rest of summer. Still, with a persistently large storage surplus and lackluster cooling demand across most of the rest of the country, August fixed prices averaged a moderate 11.0 cents…
Near-Term Heat Lifts Appalachia Natural Gas Forward Prices, but MVP Uncertainty Clouds Outlook
Natural gas forward prices were mostly higher for the July 6-12 period as a drop in production and sweltering summer heat drove larger-than-normal gains in Appalachia and the Southeast, according to NGI’s Forward Look. August forward prices climbed an average of 4.0 cents through the period, Forward Look data showed. The balance of summer (August-October)…
Natural Gas Forwards Prices Lose Ground Amid Production Gains, Mixed Forecast
Amid signs of renewed production strength, and with seasonal to cooler-leaning summer temperatures expected over population centers in the Midwest and Northeast, natural gas forwards conceded ground during the June 29-July 5 trading period, NGI’s Forward Look data show. Natural gas fixed prices at benchmark Henry Hub shed 1.7 cents for the period to end…
Natural Gas Forwards Prices Ease Lower as Extreme Heat Fades from Forecasts
With Texas heat receding to less extreme levels, and with a warm — but not sweltering — summer temperature outlook in the latest forecast maps, natural gas forwards prices pulled back during the June 22-28 trading period, NGI’s Forward Look data show. After surging 25.8 cents higher in the week-earlier period, Henry Hub gave back…
Natural Gas Forwards Press Higher as Texas Heat Motivates Bulls
Sustained sweltering heat over Texas helped stir bullish sentiment, promoting broad-based gains for regional natural gas forwards during the June 15-21 trading period, NGI’s Forward Look data show. As the Lone Star State heat wave firmed up the cooling demand outlook just in time for the official start of summer, July fixed prices at benchmark…
Near-Record Exports to Mexico Fuel Momentum for West Texas Natural Gas Forward Markets
U.S. natural gas markets failed to sustain much momentum across the forward curve during the June 8-14 trading period, with July prices averaging 2.0 cents lower as widespread heat has yet to materialize, according to NGI’s Forward Look. With plump production figures still coming out and storage inventories sitting above average levels, similarly small price…
Natural Gas Forwards, Futures Prices Gain on Stronger Cooling Demand Outlook; Western Hubs Elevated
With forecasts finally flashing more impressive heat over southern U.S. markets to strengthen the cooling demand outlook, natural gas forwards rallied during the June 1-7 trading period, NGI’s Forward Look data show. July fixed prices at benchmark Henry Hub added 6.1 cents during the period to finish at $2.328/MMBtu. Most Lower 48 hubs finished in…
Underwhelming June Heat Crushes Natural Gas Forwards as Storage Levels Rise
As natural gas markets restlessly awaited the arrival of more impressive cooling demand, regional forwards tumbled from coast to coast during the May 25-31 trading period, NGI’s Forward Look data show. July fixed prices at benchmark Henry Hub shed 30.6 cents for the period to end at $2.267/MMBtu. Discounts of around 25-35 cents were common…
Natural Gas Forward Prices Slide on Delayed Cooling Demand, Overwhelming Supply
Stubbornly high production maintained its grip on natural gas forward curves during the May 18-24 period, with June prices averaging 20.0 cents lower, according to NGI’s Forward Look. With weather-driven demand at seasonal lows and storage inventories remaining at a surplus to historical norms, forward contracts dropped 16.0 cents on average for the balance of…