June natural gas is expected to open a penny higher Friday morning at $3.25 as traders await higher prices to initiate short positions. Overnight oil markets rose.
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Mid-Week NatGas Forwards Bounce Puts June in the Black Despite Near-term Headwinds
The front of the natural gas forward curves pulled off a surprise gain of nearly 3 cents on average between April 21 and 27 despite a multitude of headwinds facing the market, according to NGI’s Forward Look.
NatGas Cash Outdoes Futures Before Weekend; June Adds Nearly 4 Cents
Physical gas for weekend and Monday delivery gained ground in Friday trading as steady Monday power pricing, along with increasing energy demand over the weekend, prompted higher eastern quotes.
Few Points In The Black During Weekly NatGas Shoulder-Season Trading
The $3 weekly pricing threshold proved a little more elusive as only a handful of points made it to the positive side of the trading ledger and most points outside the Northeast and Appalachia fell anywhere from a nickel to a dime.
Plump Storage Figures On Tap; June NatGas Called 4 Cents Lower
June natural gas opened 4 cents lower Thursday morning at $3.23 ahead of expected government storage figures anticipated to swell long term storage surpluses. Overnight oil markets plunged.
NatGas Futures Weaken Slightly Following EIA Storage Figures
Futures failed to take out the day’s highs or lows once the Energy Information Administration (EIA) reported a natural gas storage injection that was slightly greater than what the industry was expecting.
NatGas Cash, Futures Slip Lower Following Expected Storage Stats; June Loses 3 Cents
Gas for delivery Friday on average moved little in Thursday’s trading as most players elected to get their trades made ahead of the release of Energy Information Administration (EIA) storage figures.
Traders Mull Soft Demand, Weak Technicals, Yet Expiring May Called 3 Cents Higher
The expiring May futures contract is expected to open 3 cents higher Wednesday morning at $3.07 even though traders are factoring in not only weak forecast load figures, but also a deteriorating technical picture. Overnight oil markets fell.
Superior Energy Gaining on Rapidly Escalating U.S. Pressure Pumping Activity
Houston-based Superior Energy Services Inc. saw a 49% increase in U.S. pressure pumping revenue in the first quarter as operators accelerated their onshore activity, marking a “massive cyclical transition,” CEO David Dunlap said.
Ohio, Pennsylvania Show Largest NatGas Production Increases in 2016
The Energy Information Administration (EIA) said this week Ohio and Pennsylvania each increased natural gas production by about 1.2 Bcf/d last year at a time when annual U.S. gas output declined for the first time since 2005.