Markets

After what some natural gas market analysts characterized as a “technical pause” on Monday, September natural gas prices climbed 3.7 cents to settle Tuesday at $2.897. The move higher came even as the latest weather outlooks showed periods of cooler weather, wedged between periods of widespread heat. Spot gas prices began losing steam as traders eyed cooler weather around the corner. The NGI National Spot Gas Average fell 11 cents to $3.08.

September natural gas prices were set to open slightly higher Tuesday, up 1.3 cents at $2.873 ahead of market open, despite some minor changes to weather guidance that trended cooler overall in the most recent models runs.

Record-high natural gas production growth will keep a lid on prices this year, with 2018 Henry Hub prices now expected to average $2.96/MMBtu, but upward pressure will push average prices to $3.10/MMBtu in 2019, according to the Energy Information Administration (EIA).

September natural gas prices were set to open Monday almost 3 cents lower at $2.823 as the latest weather guidance was mixed but showed less sustained heat in the medium and long term.

Despite facing three major weather events in just six months, the nation’s natural gas industry continues to pass the resilience test “with flying colors,” according to a study released Monday by the Natural Gas Council (NGC).

September natural gas prices were about as exciting as a paint-drying viewing party Monday as traders still had last week’s low storage injection fresh on their minds even as weather guidance was expected to turn cooler as the week progresses. Spot gas prices were mostly higher as hot weather returned to key demand regions early in the week. The NGI National Spot Gas Average rose 22 cents to $3.19.

September natural gas prices were about as exciting as a paint-drying viewing party Monday as traders still had last week’s low storage injection fresh on their minds even as weather guidance was expected to turn cooler as the week progresses. Spot gas prices were mostly higher as hot weather returned to key demand regions early in the week. The NGI National Spot Gas Average rose 22 cents to $3.19.

September natural gas prices were set to open roughly 2 cents higher at around $2.835 as the market continues to digest the third straight bullish storage injection reported by the Energy Information Administration (EIA).

If you’re looking to the natural gas futures strip for any meaningful price action — which should be a given considering the sweltering summer weather, low storage inventories and relatively stagnant production — you’ll need to look elsewhere.