Markets

November natural gas is expected to open 2 cents higher Wednesday morning at $2.49 as weather forecasters attempt to understand widely varying model interpretations for the second half of October. Overnight oil markets rose.

As the Trans-Pacific Partnership (TPP) pact among the United States and 11 Asia-Pacific nations advances, its adoption wouldn’t mean much for exports of liquefied natural gas (LNG) from the United States, at least not in the near term.

A group of analysts on Tuesday threw a wet blanket on the chances of growth in natural gas-fired generation in the West, particularly California, blaming it on the sun and the wind.

Lower next-day gas prices at eastern locations were not enough to offset broader gains at other market points in Wednesday’s trading. Eastern locations proved to be the weakest, but the overall market gained ground.

November natural gas is expected to open 2 cents higher Tuesday morning at $2.47 as traders digest moderate weather and expectations of continued large inventory additions. Overnight oil markets rose.

Physical natural gas trading on Tuesday for Wednesday delivery saw prices on average move very little.

Physical natural gas for Tuesday delivery rose sharply in Monday’s trading as traders factored in higher next-day power demand and may have had to balance accounts for shortfalls incurred over the weekend.

November natural gas is set to open unchanged Monday morning at $2.45 as traders question the amount of remaining market downside and focus on distant buying opportunities. Overnight oil markets rose.

Raymond James & Associates Inc. on Monday reduced its 2016 Henry Hub price estimate by 90 cents, while Tudor, Pickering Holt & Co. (TPH) cut its price deck by $1.00, citing decreasing industrial demand growth and rising takeaway capacity from the Northeast.