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Weekly Natural Gas Prices Post Solid Gains as Summer Temperatures Soar

Weekly Natural Gas Prices Post Solid Gains as Summer Temperatures Soar

Spot prices surged over the course of the week as robust heat stretched across the country, with highs reaching into the triple-digits over swaths of Texas and the Southwest. Strong cooling demand propelled weekly spot gas prices for the July 6-10 period. NGI’s Weekly Spot Gas National Avg. advanced 22.0 cents to $1.730. Though forecasts…

July 10, 2020
August Natural Gas Futures Finish Uneven Week on a High Note

August Natural Gas Futures Finish Uneven Week on a High Note

Though forecasts eased some early Friday, expectations for continued extreme summer heat and robust cooling demand outshined a weak outlook for liquefied natural gas (LNG) and storage concerns, helping natural gas futures rebound from losses a day earlier. The August Nymex contract gained 2.6 cents day/day and settled at $1.805/MMBtu. September rose 2.6 cents to…

July 10, 2020
Scorching Outlook Revives Natural Gas Forward Prices Amid Weak Exports

Scorching Outlook Revives Natural Gas Forward Prices Amid Weak Exports

Intensifying heat across the United States led a sharp rally for natural gas forward prices at a time when exports remain slow and uncertainty continues over energy demand recovery amid the coronavirus pandemic. Prices for August natural gas jumped 15.0 cents on average during the July 2-8 period, as did the balance of summer (August-October),…

July 10, 2020
August Natural Gas Futures Tumble Despite Lower Storage Injection, Strong Summer Temperatures

August Natural Gas Futures Tumble Despite Lower Storage Injection, Strong Summer Temperatures

The U.S. Energy Information Administration reported a storage injection below expectations But skepticism about excess supply and export weakness weighed down futures Spot prices continued to advance amid robust summer heat A slightly bullish storage print and ongoing expectations for strong cooling demand proved too little to offset skepticism about excess supply, export weakness and…

July 10, 2020
Natural Gas Futures Called Slightly Higher; Forecasts Ease Off on July Heat

Natural Gas Futures Called Slightly Higher; Forecasts Ease Off on July Heat

As the latest forecasts moderated somewhat on expected heat, and as analysts continued to mull balances following the latest government storage data, natural gas futures were trading close to even early Friday. Coming off a 4.5-cent sell-off in Thursday’s session, the August Nymex contract was up 1.5 cents to $1.794/MMBtu at around 8:40 a.m. ET.…

July 10, 2020
Below-Average Storage Injection Fails to Lift August Natural Gas Futures

Below-Average Storage Injection Fails to Lift August Natural Gas Futures

A slightly bullish storage print and ongoing expectations for strong cooling demand proved too little to offset skepticism about excess supply, export weakness and ongoing fallout from the coronavirus pandemic. The August Nymex contract lost 4.5 cents day/day and settled at $1.779/MMBtu on Thursday. September fell 5.5 cents to $1.821. Boosted by waves of summer…

July 9, 2020
OPEC Leader Says U.S. Vital to Ensuring Post-Covid Oil Market Balance

OPEC Leader Says U.S. Vital to Ensuring Post-Covid Oil Market Balance

U.S. producers have played a critically important role in rebalancing the global oil market after Covid-19 and will continue to do so going forward, according to Organization of the Petroleum Exporting Countries (OPEC) Secretary General Mohammad Sanusi Barkindo. Although tensions have long simmered between the Saudi-led cartel and the Lower 48 onshore segment, “there is…

July 9, 2020
Sweltering Heat Sparks Surge for Natural Gas Forward Prices

Sweltering Heat Sparks Surge for Natural Gas Forward Prices

Intensifying heat across the United States led a sharp rally for natural gas forward prices at a time when exports remain slow and uncertainty continues over energy demand recovery amid the coronavirus pandemic. Prices for August natural gas jumped 15.0 cents on average during the July 2-8 period, as did the balance of summer (August-October),…

July 9, 2020
Robust Heat Outlook Offset by LNG Concerns as August Natural Gas Futures Lose Ground

Robust Heat Outlook Offset by LNG Concerns as August Natural Gas Futures Lose Ground

BREAKING: U.S. EIA reports an injection of 56 Bcf into natural gas storage for the week ending July 3, slightly below average estimates Profit-taking and skepticism about the outlook for liquefied natural gas snapped a three-day winning streak for natural gas futures Continued spread of the coronavirus and uncertainty about economic activity amplified market doubts…

July 9, 2020
Nearly In-Line Storage Injection a Drag on August Natural Gas Futures

Nearly In-Line Storage Injection a Drag on August Natural Gas Futures

The U.S. Energy Information Administration (EIA) reported an injection of 56 Bcf into natural gas storage for the week ending July 3, coming in slightly below average estimates and nudging Nymex natural gas futures lower.  Analysts said the latest injection signals that demand, boosted by scorching summer heat that is driving energy use for cooling,…

July 9, 2020
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