November natural gas is set to open 3 cents lower Monday morning at $3.26 as forecasters can come up with no near-term seasonal cold to spur demand. Overnight oil markets rose.
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Rebounding Physical NatGas Market Outpaces Sluggish Futures; November Drops 4 Cents
After the physical natural gas market took a 14 cent drubbing for weekend and Monday packages, the stage was set for a rebound in Monday’s trading. Physical prices got most of it back, with the NGI National Spot Gas Average posting a 13-cent rise to $2.69 and healthy double-digit gains spread across the board.
Traders Mull Market’s Next Move; November Called Flat
November natural gas is set to open unchanged Friday morning at $3.34 as traders consolidate positions before the weekend. Overnight oil markets were mixed.
Late-Week Rally Could Be Sign of More Volatility to Come This Winter
November natural gas forward prices averaged 11 cents higher between Oct. 7 and 13, setting the stage for hefty double-digit increases across the front half of the curve and reminding the market that weather isn’t always necessary to spook prices.
NatGas Cash, Futures Both Take A Breather Before Weekend; November Sheds 6 Cents
Three-day deals for weekend and Monday natural gas were a tough sell in Friday’s trading, and anyone trading New England next-day markets saw prices decline by more than a dollar.
Weekly NatGas Gains Follow Prior Week Futures Advance
True to form, the near 30-cent advance in the November futures for the week ended Oct. 7 augured higher weekly cash prices the following week. For the week ended Oct. 14, the NGI National Weekly Spot Gas Index gained a healthy 16 cents to $2.67, but in an environment of “what have you done for me lately,” traders will be watching to see if the futures advance of 9.2 cents for the week ended Oct. 14 will lift weekly cash quotes again.
Plump Storage Build On Tap; November Called 2 Cents Lower
November natural gas is set to open 2 cents lower Thursday morning at $3.19 as traders expect storage data to show a greater increase than popular surveys. Overnight oil markets were narrowly mixed.
LDC Forum Speakers See NatGas Price Volatility Returning, Rockies Resurgence
With an eye toward winter weather, natural gas price volatility is likely to return in 2017, given the prospect for potential capacity constraints and ever-larger exports to Mexico to support gas-fired generation, according to ConocoPhillips’ Jim Duncan, who directs commodity market research.
Bulls Riding High on Heels of NatGas Storage Data
Natural gas futures gained ground Thursday morning after the Energy Information Administration (EIA) reported a storage injection that was less than what traders and analysts were anticipating.
Henry Hub Spot Prices to Average More Than $3/MMBtu Through 2017, EIA Says
The Energy Information Administration (EIA) said Thursday that it expects Henry Hub natural gas spot prices to average $3.04/MMBtu in 4Q2016 and $3.07/MMBtu next year, substantially higher than the agency’s previous 2017 price forecast.