Natural gas futures continued to slide Wednesday, with the market anticipating the start of the shoulder season as lingering summer heat looked less impressive in recent guidance. In the spot market, West Texas basis strengthened for the second straight day as East Coast points pulled back; the NGI National Spot Gas Average fell 3 cents to $2.78/MMBtu.
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Tropical Storm Gordon Looms as October Natural Gas Called Lower
October natural gas futures were down about 6.4 cents at around $2.852/MMBtu in early morning trading Tuesday as a combination of near-term tropical weather and longer-term seasonality posed downside risks for demand.
Roaring Natural Gas Production Growth at Heart of September Bidweek Declines
Late summer heat and hefty storage deficits took a back seat to record production as traders sent NGI’s National Bidweek Avg. down 12 cents from August to $2.64 for September, which is exactly on par to the penny with September 2017’s bidweek average.
Gordon Seen Destroying Demand as Natural Gas Futures Down Sharply; East Coast Cash Strengthens
Possible demand destruction from a storm along the Gulf Coast and surging Lower 48 production helped drive heavy selling for natural gas futures over the holiday weekend and into Tuesday’s session. Spot prices were mixed as East Coast locations continued to climb on strong September heat; theNGINational Spot Gas Averagepicked up 13 cents to $2.81/MMBtu.
Natural Gas Futures Fall as Gulf Coast Storm Seen Easing Demand
Possible demand destruction from a storm along the Gulf Coast and surging Lower 48 production helped drive heavy selling for natural gas futures over the holiday weekend and into Tuesday’s session. Spot prices were mixed as East Coast locations continued to climb on strong September heat; the NGI National Spot Gas Average picked up 13 cents to $2.81/MMBtu.
Forecasts Warmer Overnight as October Natural Gas Called Higher
October natural gas futures were trading about 3.8 cents higher early Friday morning at around $2.912, with guidance further warming overnight and the market still processing the implications of an inventory build that surprised to the high side.
Uncertainty Surrounds Fate of Mexico’s Oil & Natural Gas Bid Rounds
Suspension of oil and natural gas bid rounds by Mexico’s next government could lead to missed opportunities and cause drillers to look elsewhere to grow their portfolios, according to a local expert.
Robust Production, Early Autumn Eases Natural Gas Forwards Values
Market bears have staked their claim on natural gas markets as forward prices moved lower across all of North America for the Aug. 23-29 period as record production and forecast waning heat in the coming weeks sent September forward prices down by an average 11 cents, according to NGI’s Forward Look.
LNG Sector Eyeing Expanding Market to Better Fuel Global Ship Traffic
A concerted push is underway across the globe to enhance the use of liquefied natural gas (LNG) as a marine transportation fuel to reduce emissions and make use of an ever-increasing supply.
October Natural Gas Firms on Sustained Heat Keeps; Spot Gas Mixed Ahead of Labor Day Weekend
Another hotter turn in weather models lifted October natural gas prices for a third day Friday as summer heat is expected to linger a little longer into September than originally forecast. The Nymex October gas futures contract settled at $2.916, up 4.2 cents on the day. Increases of close to 4 cents were also seen throughout the winter 2018-2019 strip.