Markets

The total amount of natural gas sold by participants in NGI’s quarterly marketers ranking survey increased only marginally in the first quarter of the year compared with 1Q2014, but the underlying markets are hardly stagnant.

Physical gas for Wednesday delivery was unchanged on average Tuesday, with broad gains extending from the Gulf, Midcontinent, Rockies and California unable to overcome stout declines in the East and Northeast.

July natural gas is expected to open 4 cents higher Tuesday morning at $2.77 as traders discount a further moderation in the temperature outlook and look to purchase longer-term strips. Overnight oil markets were mixed.

While grid operators in the Northeast have taken steps to smooth out the kinks in electricity grids that are increasingly relying on natural gas-fired generation, further refinement of the U.S. natural gas and electricity grid systems is needed, FERC Commissioner Philip Moeller and other speakers told an industry forum Wednesday in Valley Forge, PA.

The total amount of natural gas sold by participants in NGI's quarterly marketers ranking survey increased only marginally in the first quarter…

Physical gas for Wednesday delivery was unchanged on average Tuesday, with broad gains extending from the Gulf, Midcontinent, Rockies and California unable to overcome stout declines in the East and Northeast.

“Intensified” surpluses will keep the lid on North American natural gas prices through 2017, the National Energy Board (NEB) predicted in a three-year Canadian deliverability forecast.

Natural gas for delivery Tuesday traded every which way but loose Monday as monster gains in the East and Northeast were able to overcome some small declines in the Gulf, Midcontinent, and Rockies. Overall, NGI’s National Spot Gas Average added 8 cents to $2.61.

July natural gas is expected to open 8 cents lower Monday morning at $2.74 as overnight weather forecasts for key population centers turned more moderate. Overnight oil markets were narrowly mixed.