October natural gas is expected to open 6 cents lower Friday morning at $2.87 as traders set their sights on plump season-ending storage levels and ignore near-term supportive weather. Overnight oil markets were mixed.
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Production Cuts, Nuclear Outages Send NatGas Forwards Up 10-Plus Cents
The fall shoulder season may be just around the corner, but some unexpected maintenance events that cut both nuclear generation and production this week helped send natural gas October futures and forward prices up more than 10 cents on average from Sept. 9 to 15, NGI Forward Look shows.
NGI The Weekly Gas Market Report
NatGas Futures, Forwards Prices Climb on Production, Nuclear Power Declines
The fall shoulder season may be just around the corner, but some unexpected maintenance events that cut both nuclear generation and production this week helped send natural gas October futures and forward prices up more than 10 cents on average from Sept. 9 to 15, NGI Forward Look shows.
Neutral Supply-Demand Factors Have NatGas Looking Bullish, Macquarie Analyst Says
The natural gas market is starting to feel downright bullish, if only because some of the bearish factors weighing down prices the last few years are starting to normalize, according to Macquarie Capital (USA) Global Oil & Gas Strategist Vikas Dwivedi.
Some Eastern NatGas Cash Under $1, Yet Futures Continue Climb to $3
Physical natural gas for weekend and Monday continued to grind lower Friday as forecasts of mild weather made three-day deals unattractive.
Modest Weekly Natural Gas Gains Continue, But Futures Leap Higher
Weekly natural gas prices for the week ended Sept. 17 resembled something of a “tortoise and the hare” comparison, with the hare-like futures putting up double-digit gains and the physical market just plodding along.
Traders Expecting Near-Average Storage Build; October Called Flat
October natural gas is expected to open unchanged Thursday morning at $2.89 as traders anticipate that government storage figures will be sharply higher than last week and close to historical averages. Overnight oil markets rose.
NatGas Futures Inch Lower Following On-Target Storage Figures
Natural gas futures traded lower but snapped back Thursday morning after the Energy Information Administration (EIA) reported a storage injection that was about in line with what the market was expecting.
Weak NatGas Cash Outdone by Resurgent Futures; October Adds 4 Cents
Very few physical natural gas market points made it to the positive side of the trading ledger Thursday as most traders hunkered down and got their deals done before the release of the Energy Information Administration’s (EIA) storage report.
Traders Watching Technicals; October Called 5 Cents Higher
October natural gas is set to open 5 cents higher Wednesday morning at $2.96 as traders discount moderating weather patterns and focus on a re-emergent bullish technical environment. Overnight oil markets eased.