Buyers for three-day deals were in short supply in Friday’s trading and physical natgas at nearly all points fell into the loss column. The losses were surprisingly uniform and most points were off a nickel to a dime, even the usually volatile Northeast.
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Weather, Storage Discounted; May Seen A Penny Higher
May natural gas is expected to open a penny higher Thursday morning at $3.20 before release of a government inventory report curiously expected to show additions well above historical norms. Overnight oil markets rose.
Futures Bend But Don’t Break Following Bearish NatGas Storage Stats
Natural gas futures fell Thursday morning after the Energy Information Administration (EIA) reported a storage injection that was greater than what the industry was expecting.
NatGas Cash, Futures Soften On Heels Of Plump EIA Storage Figures
Physical natural gas traders weren’t taking any chances Thursday and got their deals done ahead of the release of the Energy Information Administration’s (EIA) weekly storage report. Most points outside the Northeast lost a few pennies up to a nickel, but Northeast points were down about a dime on average, and the NGI National Spot Gas Average fell 4 cents to $2.90.
Bulls Unfazed by Mild Weather, Stout Storage Predictions; May Called 4 Cents Higher
May natural gas is set to open 4 cents higher Wednesday morning at $3.19 as traders discount not only mild weather patterns but also expected plump storage figures. Overnight oil markets weakened.
New England NatGas Price Weakness Unable to Offset Broader Gains; May, June Add 4 Cents
Physical natural gas for delivery Thursday managed to creep higher in Wednesday trading despite forecasts of weak energy demand and mixed next-day power pricing. Slumping quotes in Appalachia and the Northeast were offset by modest but broad gains in Texas, Louisiana, the Midwest and Midcontinent.
Traders See $3.05 In Sight; May Called 2 Cents Lower
May natural gas is set to open 2 cents lower Tuesday morning at $3.14 as weather forecasts remain mild and the technical picture weakens. Overnight oil markets fell.
Natural Gas Cash, Futures Traders Navigating Lackluster Conditions As May Posts 2-Week Lows
Physical natural gas prices for Wednesday delivery as well as futures moved little in Tuesday’s trading. Strength in New England and Appalachia proved barely adequate to give spot prices a positive luster and offset broad but minimal changes in Midwest market zones, as well as the Midcontinent, Rockies and California.
Supportive Weather Non-Existent; May Called 6 Cents Lower
May natural gas is expected to open 6 cents lower Monday morning at $3.17 as weather models were unable to muster any significant changes and the likelihood of tapping into cold, Canadian air appeared remote. Overnight oil markets slumped.
NatGas Cash Zigs, Futures Zag, But May Drops 6 Cents
Physical natural gas prices and futures prices parted ways in Monday trading as gas for next-day delivery surged and futures slumped.