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Early Heat Waves Boost Weekly Natural Gas Prices, but Cooler June Start Sends Futures Lower

Early Heat Waves Boost Weekly Natural Gas Prices, but Cooler June Start Sends Futures Lower

Spot natural gas prices strengthened in the final full week of May as power burns remained robust even as demand in the South Central region retreated along with temperatures. With a brief heat wave stoking East Coast demand – and another blast of cold hitting the West Coast – NGI’s Weekly Spot Gas National Avg.…

May 27, 2022
Mild Early-June Forecast Sinks July Natural Gas Futures; Cash Off Too

Mild Early-June Forecast Sinks July Natural Gas Futures; Cash Off Too

July natural gas futures debuted at the front of the Nymex curve with a thud, tumbling 16.8 cents to $8.727/MMBtu ahead of the Memorial Day holiday weekend. At A Glance: Cooler June outlook softens futures Production ramping higher Cash off on soft holiday demand Spot gas prices also softened amid light demand, with NGI’s Spot…

May 27, 2022
Supply Fears Keep Pressure on Natural Gas Forward Prices

Supply Fears Keep Pressure on Natural Gas Forward Prices

With warnings of higher prices still to come, natural gas forward prices mounted hefty gains for the trading period ending May 25, with prices nearing $9.00/MMBtu across much of the country and cresting $10.00 in California, according to NGI’s Forward Look. June fixed prices averaged 65.0 cents higher on the week, while the balance of…

May 27, 2022
Early June Heat Falling Short of Expectations as Natural Gas Futures Retreat Early

Early June Heat Falling Short of Expectations as Natural Gas Futures Retreat Early

With early June heat disappointing bulls in the latest forecasts, appearing to limit upside for prices in the near-term, natural gas futures pulled back sharply in early trading Friday. The July Nymex contract was down 42.9 cents to $8.466/MMBtu at around 8:50 a.m. ET. Overnight weather model trends were cooler, leading Bespoke Weather Services to…

May 27, 2022
June Natural Gas Futures Forge Rally but Fizzle to Finish Final Day as Front Month

June Natural Gas Futures Forge Rally but Fizzle to Finish Final Day as Front Month

The June Nymex natural gas futures contract rallied toward its expiration on Thursday, pushing above $9.401 in intraday trading and reaching the highest level since 2008. Even as traders digested a weak storage print and renewed concerns about a supply crunch, many took profits in the final hour of trading that ultimately sent futures into…

May 26, 2022
Amid Unceasing Price Rise, Cenagas Launches Public Consultation on Natural Gas Demand – Mexico Spotlight

Amid Unceasing Price Rise, Cenagas Launches Public Consultation on Natural Gas Demand – Mexico Spotlight

North American natural gas prices continued their torrid surge this week, with expiring New York Mercantile Exchange prompt month prices on Wednesday surpassing the $9.00/MMBtu mark for the first time in 14 years. Bespoke analysts said the issue in the United States remains the lack of “significant, and sustainable, gains in production to ensure we…

May 26, 2022
Natural Gas Forwards Edging Closer to Double Digits; New England Seeing $20-Plus Winter Strips

Natural Gas Forwards Edging Closer to Double Digits; New England Seeing $20-Plus Winter Strips

With warnings of higher prices still to come, natural gas forward prices mounted hefty gains for the trading period ending May 25, with prices nearing $9.00/MMBtu across much of the country and cresting $10.00 in California, according to NGI’s Forward Look. June fixed prices averaged 65.0 cents higher on the week, while the balance of…

May 26, 2022
Natural Gas to Compensate for Shortfall in California Hydropower, Says EIA

Natural Gas to Compensate for Shortfall in California Hydropower, Says EIA

Natural gas-fired electricity generation would pick up the slack in California left by the state’s drought-compromised hydropower resources, according to the Energy Information Administration (EIA). In a recent analysis, researchers found that California’s extended drought could cut the share of summer electricity generation from hydropower to only 8%, or 6.8 million MWh, from June through…

May 26, 2022
Weak Storage Injection Bolsters Bulls’ Case for Lofty Natural Gas Prices

Weak Storage Injection Bolsters Bulls’ Case for Lofty Natural Gas Prices

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 80 Bcf natural gas into underground storage for the week ended May 20. The result fell short of market expectations and historic averages, driving Nymex natural gas futures higher. Ahead of the print, the June contract was up 13.1 cents at $9.124/MMBtu. The…

May 26, 2022
Natural Gas Futures Climb Early as Market Awaits Impact of EIA Data, June Expiry

Natural Gas Futures Climb Early as Market Awaits Impact of EIA Data, June Expiry

As the market braced for potential price-moving impacts of both updated government inventory data and the prompt month contract expiration Thursday, natural gas futures advanced in early trading. The expiring June Nymex contract was up 22.6 cents to $9.197/MMBtu at around 8:50 a.m. ET. July was up 19.4 cents to $9.187. The Energy Information Administration…

May 26, 2022
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