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May Natural Gas Futures Jump as NGTL Pipeline Incident Rattles Market

May Natural Gas Futures Jump as NGTL Pipeline Incident Rattles Market

Natural gas futures jumped higher Tuesday afternoon after reports of a pipeline incident in Alberta broke up an otherwise quiet shoulder season day of trading. At A Glance: Production at 97.4 Bcf/d Weak spring season demand National Avg. back above $1 The May Nymex contract rose 4.1 cents day/day to settle at $1.732/MMBtu. Futures spiked…

April 16, 2024
Natural Gas Futures Higher After Late Jump; Modest Cash Gains — MidDay Market Snapshot

Natural Gas Futures Higher After Late Jump; Modest Cash Gains — MidDay Market Snapshot

Natural gas futures were headed for another daily decline through midday trading Tuesday before a sudden burst higher around 2 p.m. ET threatened to give market onlookers whiplash. Cash prices for the most part were advancing modestly off recent lows. Here’s the latest: May Nymex futures at $1.722/MMBtu as of 2:14 p.m. ET, up 3.1…

April 16, 2024
Natural Gas Futures Steady Early as Market Mulls Sagging Production, LNG Numbers

Natural Gas Futures Steady Early as Market Mulls Sagging Production, LNG Numbers

After tumbling in the previous session, natural gas futures held steady in early trading Tuesday as the market continued to assess apparent weakness in both export and production volumes. The May Nymex contract was trading fractionally lower at $1.690/MMBtu at around 8:45 a.m. ET. The latest daily production estimates from Wood Mackenzie showed domestic output…

April 16, 2024
May Natural Gas Futures Sputter as Benign Weather Intersects with Stout Supply

May Natural Gas Futures Sputter as Benign Weather Intersects with Stout Supply

Lighter shoulder season demand and soft export data overshadowed bullish production estimates and weighed down natural gas futures to kick off trading this week. At A Glance: Weak near-term demand Production remains softer NGI models 55 Bcf injection The May Nymex gas futures contract on Monday settled at $1.691/MMBtu, down 7.9 cents day/day. Cash prices…

April 15, 2024
West Texas Natural Gas Exports to Mexico Surged in 2023 as U.S. Cemented Role as Top Global Supplier

West Texas Natural Gas Exports to Mexico Surged in 2023 as U.S. Cemented Role as Top Global Supplier

Natural gas pipeline exports from the United States to Mexico via West Texas rose 20% year/year to average 1.6 Bcf/d in 2023, according to the latest data from the U.S. Energy Information Administration (EIA). Gas flows from West Texas to Mexico “have grown steadily since 2017 as more connecting pipelines in Central and Southwest Mexico…

April 15, 2024
Natural Gas Futures Sinking on Weak LNG; Bargain Spot Prices Persist — MidDay Market Snapshot

Natural Gas Futures Sinking on Weak LNG; Bargain Spot Prices Persist — MidDay Market Snapshot

Natural gas markets felt the pressure of soft shoulder season fundamentals through midday trading Monday. Pleasant April weather, sagging export volumes and the continued inversion of the West Texas spot market contributed to a bearish outlook. Here’s the latest: May Nymex futures down 9.0 cents to $1.680/MMBtu as of 2:17 p.m. ET Flows to U.S.…

April 15, 2024
Weak LNG Volumes, Mild Weather Sink Natural Gas Futures Early

Weak LNG Volumes, Mild Weather Sink Natural Gas Futures Early

As weaker export numbers and a mild spring forecast hampered the near-term demand outlook, natural gas futures sank in early trading Monday. After eking out a modest day/day gain on Friday, the May Nymex contract was down 4.8 cents to $1.722/MMBtu at around 8:45 a.m. ET. June was off 5.1 cents to $1.978.  The natural…

April 15, 2024
Negative West Texas Prices Weigh Down Weekly Spot Natural Gas Average; Futures See-Saw

Negative West Texas Prices Weigh Down Weekly Spot Natural Gas Average; Futures See-Saw

Despite bullish national production readings, weekly natural gas cash prices retreated alongside a West Texas supply glut and festering headwinds in the region.  NGI’s Weekly Spot Gas National Avg. for the April 8-12 period lost 25.0 cents to $1.210/MMBtu. West Texas prices, as they did the prior week, proved the principal source of weakness. Waha…

April 12, 2024
As Demand Dissipates, Natural Gas Futures and Spot Prices Finish Trading Week with Whimper

As Demand Dissipates, Natural Gas Futures and Spot Prices Finish Trading Week with Whimper

Natural gas futures were bound by a narrow range of gains and losses Friday. This capped a topsy-turvy trading week that featured falling production and an early rally, but also rapidly waning weather demand and choppy LNG activity that later sapped sentiment. At A Glance: Mild weather ahead Output near 99 Bcf/d Storage surplus holds…

April 12, 2024
Natural Gas Futures Steady; Cash Plunging Ahead of Weekend — MidDay Market Snapshot

Natural Gas Futures Steady; Cash Plunging Ahead of Weekend — MidDay Market Snapshot

Natural gas futures were on track to finish near even at the front of the curve through midday Friday as a steep sell-off in the previous session had bulls licking their wounds. Spot prices, meanwhile, were plummeting on pleasant April weather and light weekend demand. Here’s the latest: May Nymex contract at $1.773/MMBtu at around…

April 12, 2024
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