October natural gas is set to open unchanged Friday morning at $2.99 as traders balance changes in the weather with a solid technicial underpinning. Overnight oil markets eased.
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Volkswagen NGVs in Europe Wrestle With Fueling Safety Problem
Beleaguered German automaker Volkswagen AG has found itself in a new public controversy among its natural gas-powered vehicles in Europe, which are part of a large recall of VW natural gas vehicles (NGV). VW has no NGV sales in the United States.
Lingering Heat, Nuclear Outages Keep Pressure on NatGas Forwards Prices
October natural gas forward prices climbed as much as 7 cents between Sept. 16 and 22 as continuous power burn growth, strong cash prices and ongoing nuclear outages kept a firm grip on the market, even in the face of a relatively bearish storage report, according to NGI’s Forward Look.
NGI The Weekly Gas Market Report
Natural Gas Forwards Prices Up on Strong Power Burn
October natural gas forward prices climbed as much as 7 cents between Sept. 16 and 22 as continuous power burn growth, strong cash prices and ongoing nuclear outages kept a firm grip on the market, even in the face of a relatively bearish storage report, according to NGI’s Forward Look.
Transco, Tetco Points Set All-Time Lows as NatGas Cash Weakens; Futures Drop 3 Cents
Three-day weekend natural gas deals were like a hot-potato in Friday’s trading that no one wanted to hold on to. A sharp turn to mild conditions by Monday sent prices plummeting with only a couple of points followed by NGI staying out of the loss column.
Trading Places: Weekly NatGas Cash Up Nearly A Dime, But Futures Languish
The week’s natural gas trading was something of a role reversal from the week before with the physical market adding close to a dime, but spot futures eking out an advance of less than a penny. Last week natgas cash added a modest 2 cents to $2.63, but the futures raced higher by 15.1 cents to $2.948. For the week ending Sept. 23 the NGI Weekly Spot Gas Average rose 9 cents to $2.72, and October futures added a mere seven-tenths of a cent to $2.955 after briefly trading over $3.
‘Overbought’ October Contract Seen A Penny Higher
October natural gas is expected to open a penny higher Thursday morning at $3.07 as season-ending supplies equal to last year seem to be slipping away. Overnight oil markets rose.
NatGas Futures Slump Following On-Target Storage
Natural gas futures traded lower Thursday morning after the Energy Information Administration (EIA) reported a storage injection that was about in line with what the market was expecting.
NGI The Weekly Gas Market Report
U.S. Exports of ‘Lifestyle’ Building Block Ethane Expected to Grow
The United States has been producing and exporting more ethane by pipeline and, beginning earlier this year, by tanker from the East and Gulf coasts. Jim Teague, CEO of Enterprise Products Partners LP’s general partner, is bullish on continued export growth as ethane is a key building block for the plastics that make the “lifestyle products” the rest of the world wants.
NatGas Cash, Futures Slide; October Dips Below $3
Physical natural gas retreated from Wednesday’s one-year highs, and for the most part market points outside the Northeast were a few pennies lower in Thursday’s trading.