Markets

Physical gas for Thursday delivery overall worked modestly higher in Wednesday’s trading as strength in the West was able to outperform steady to lower quotes in the East, Gulf, Midwest and Midcontinent. The overall market added a penny to $2.59. Futures trading was even less inspired with the June contract expiring at $2.815, down seven-tenths of a cent and July easing two-tenths of a cent to $2.847. July crude oil fell 52 cents to $57.51/bbl.

Thanks to a strong El Nino event that is expected to sweep the United States this summer and ward off significant heat waves in key population centers, the demand for air conditioning is expected to be on the low side, which in turn will keep pressure off of natural gas supplies, according to Weather Services International (WSI) and ESAI Power LLC.

Physical natural gas prices for Wednesday delivery were a deeply divided affair in Tuesday's trading, with eastern quotes gaining on expectations…

June natural gas is expected to open 7 cents lower Tuesday morning at $2.82 as traders digest a round of more moderate weather forecasts and anticipate a hefty build in inventories. Overnight oil markets fell.

Thanks to a strong El Nino event that is expected to sweep the United States this summer and ward off significant heat waves in key population centers, the demand for air conditioning is expected to be on the low side, which in turn will keep pressure off of natural gas supplies, according to Weather Services International (WSI) and ESAI Power LLC.

Physical natural gas prices for Wednesday delivery were a deeply divided affair in Tuesday’s trading, with eastern quotes gaining on expectations of temperatures as high as 90 in some markets and all other points dropping close to a dime.

June natural gas is expected to open 7 cents lower Tuesday morning at $2.82 as traders digest a round of more moderate weather forecasts and anticipate a hefty build in inventories. Overnight oil markets fell.

June natural gas is expected to open 3 cents lower Friday morning at $2.92 as traders mull new and lower trading targets and look for buying opportunities. Overnight oil markets fell.

In spite of power load forecasts calling for huge increases Tuesday in eastern markets, spot natural gas for the extended holiday weekend skidded as traders decided to make any necessary spot purchases over the weekend instead of commit to a four-day deal.