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First Taste of Summer Drives Big Gains in Weekly Natural Gas Prices; July Nymex Hits $3.33 on Tetco Worries

First Taste of Summer Drives Big Gains in Weekly Natural Gas Prices; July Nymex Hits $3.33 on Tetco Worries

Summer weather stepped up its game this week, providing momentum to spot gas prices as air-conditioning needs ramped up across much of the country. With highs in Texas and much of the central United States soaring into the 90s, NGI’s Weekly Spot Gas National Avg. climbed 13.0 cents to $2.930. Nymex futures also ended the…

June 11, 2021
Natural Gas Futures Prices Go ‘Bonkers’ as Tetco Restrictions Seen Lasting Through Summer

Natural Gas Futures Prices Go ‘Bonkers’ as Tetco Restrictions Seen Lasting Through Summer

After a week of only modest changes along the Nymex futures curve, price action on Friday was anything but, as a major natural gas pipeline warned that restrictions it has in place could last through the end of September. The July Nymex gas futures contract started climbing overnight and continued to surge throughout the day,…

June 11, 2021
Tetco Warns Restrictions to Stretch into 3Q2021 as Natural Gas Futures Surge

Tetco Warns Restrictions to Stretch into 3Q2021 as Natural Gas Futures Surge

A pipeline notice raising the prospect of prolonged supply disruptions out of the Northeast had natural gas futures surging in early trading Friday. The July Nymex contract was trading 10.3 cents higher to $3.252/MMBtu at around 8:50 a.m. ET. In a posting to its bulletin board shortly before 6 p.m. ET Thursday, Texas Eastern Transmission…

June 11, 2021
Natural Gas Futures Eke Out Another Modest Gain Despite Loose Storage Data

Natural Gas Futures Eke Out Another Modest Gain Despite Loose Storage Data

July natural gas futures touched $3.200/MMBtu early Thursday, but government storage data confirming a continuation of loose balances quickly drained momentum. The July Nymex contract ultimately settled at $3.149, up only 2.0 cents day/day. August climbed 2.2 cents to $3.166. Spot gas prices continued to weaken in some areas of the United States, with the…

June 10, 2021
Mexico Natural Gas Market Spotlight: Midterm Elections Create ‘Optimistic Panorama’

Mexico Natural Gas Market Spotlight: Midterm Elections Create ‘Optimistic Panorama’

Participants in Mexico’s natural gas and energy markets expressed their optimism for the future in the days following the midterm elections last Sunday (June 6). “The Mexican Congress now has a more balanced representation, which is an excellent opportunity for negotiation and to have a moderated agenda,” Mexico City energy consultant Casiopea Ramírez Melgar told…

June 10, 2021
Temps, Appalachian Supply Worries Keep Heat on Natural Gas Forwards

Temps, Appalachian Supply Worries Keep Heat on Natural Gas Forwards

Big basis moves in Appalachia and on the West Coast highlighted natural gas forwards trading during the June 3-9 period, while a sufficiently hot forecast helped propel a broader move higher for the Lower 48 overall, according to NGI’s Forward Look. Fixed prices for July delivery were higher week/week by around 10-15 cents at numerous…

June 10, 2021
Covid-19 Uncertainty Still Weighing on Oil Prices, Says World Bank

Covid-19 Uncertainty Still Weighing on Oil Prices, Says World Bank

Continued uncertainty around the Covid-19 pandemic has kept a lid on rallying oil prices, according to the World Bank. Though prices have been supported by continued production restraint by the Organization of the Petroleum Exporting Countries and their allies, aka OPEC-plus,“the pickup in oil prices has been partly dampened by uncertainty regarding the evolution of…

June 10, 2021
Natural Gas Prices Soften After EIA Storage Data Confirms Continued Loosening

Natural Gas Prices Soften After EIA Storage Data Confirms Continued Loosening

The Energy Information Administration (EIA) reported a 98 Bcf injection into natural gas inventories for the week ending June 4, falling within a fairly tight range of expectations. Although the figure failed to reach triple-digit status, futures prices retreated from earlier highs. The July Nymex futures contract was trading at around $3.190/MMBtu ahead of the…

June 10, 2021
Models ‘Tease Stronger Demand’ for Late June as Natural Gas Futures Called Higher

Models ‘Tease Stronger Demand’ for Late June as Natural Gas Futures Called Higher

As traders prepared to digest a potential triple-digit injection from the latest round of government inventory data, and as weather models hinted at hot temperatures developing later this month, natural gas futures probed slightly higher early Thursday. The July Nymex contract was up 1.8 cents to $3.147/MMBtu at around 8:45 a.m. ET. Estimates have been…

June 10, 2021
Hot Forecast Lifts Natural Gas Futures Another Notch Ahead of Expected Triple-Digit Storage Build

Hot Forecast Lifts Natural Gas Futures Another Notch Ahead of Expected Triple-Digit Storage Build

Natural gas futures edged up early Wednesday as traders mulled an increasingly hot June forecast against a projected hefty storage build. Though briefly moving into the red, the July Nymex gas futures contract settled Wednesday at $3.129, up a mere one-tenth of a cent on the day. August climbed four-tenths of a cent to $3.144.…

June 9, 2021