A reprieve from the unrelenting heat that drove strong natural gas demand for most of the summer pushed weekly gas prices lower across most of the country from Aug. 27-30, with some of the most substantial losses seen in the West, from the Rockies, Arizona, Nevada and California. There were exceptions, however, as hot high pressure on the East Coast sent temperatures close to 100 degrees in some locales, lifting weekly prices by double digits. Overall, the NGI Weekly National Avg. for September gas for the week through Thursday fell 3 cents to $2.76.
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Weather Models Align to Send October Natural Gas Higher; Hotter Temps Lift Spot Gas in Some Regions
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.
August 31, 2018
Fall Arriving Early for Bears as Natural Gas Forwards Slide on Record Production
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.
August 30, 2018
NatGas Helps Push FirstEnergy to Shutter Pennsylvania’s Largest Coal-Fired Power Plant
FirstEnergy Corp. (FE) subsidiary FirstEnergy Solutions Corp. late Wednesday announced plans to shutter four fossil fuel power plants, including Pennsylvania’s largest coal-fired facility, by 2022.
August 30, 2018
Veracruz Selected for Mexico’s First Underground Natural Gas Storage Facility
Mexico said it plans to tender its first strategic storage project at a depleted natural gas reservoir in Veracruz state.
August 30, 2018
Heat Tough to Ignore as October Climbs Despite Bearish Storage Build; Spot Gas Sinks Again
Just when the idea of record production and a surprise bearish storage injection may have sent natural gas prices tumbling, weather forecasts turned hotter for the first week of September. The Nymex October gas futures contract, in its first day in the prompt-month position, nudged out a 1.1-cent gain to settle Thursday at $2.874. November also climbed 1.1 cents to hit $2.901.
August 30, 2018
Hotter Medium-Range Outlooks Send October Natural Gas Higher Despite Bearish Storage Data; Spot Gas Slides
Just when the idea of record production and a surprise bearish storage injection may have sent natural gas prices tumbling, weather forecasts turned hotter for the first week of September. The Nymex October gas futures contract, in its first day in the prompt-month position, nudged out a 1.1-cent gain to settle Thursday at $2.874. November also climbed 1.1 cents to hit $2.901.
August 30, 2018
October Natural Gas Called Higher as Heat Lingers; Storage in Spotlight
October natural gas futures were set to open Thursday about 1.2 cents higher at around $2.875/MMBtu, bolstered by warmer overnight weather trends as the market looks ahead to the release of today’s government storage report.
August 30, 2018
EIA Shocks With 70 Bcf Injection; Natural Gas Futures Too Stunned to React
The Energy Information Administration (EIA) reported a 70 Bcf injection into storage inventories for the week ending Aug. 24, well above market consensus of a mid-60 Bcf build.
August 30, 2018
End of Summer in Sight as September Natural Gas Called Higher Ahead of Expiry
The expiring September natural gas futures contract was set to open Wednesday about 2.0 cents higher at around $2.872/MMBtu as forecasts overnight continued to show cooling demand tapering off by the end of next week. The October contract was trading about 1.7 cents higher at around $2.862.
August 29, 2018
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