Natural gas futures rose Thursday morning after the Energy Information Administration (EIA) reported a storage injection that was a bit less than what the market was expecting.
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Physical NatGas Can’t Match Storage-Report Futures Gains; September Adds A Nickel
Physical natural gas traders Thursday hunkered down before release of the Energy Information Administration (EIA) storage report, and both producing basins and market zone prices for Friday delivery varied within only a penny or two.
Analysts Eyeing $2.40 Spot Futures; September Called 3 Cents Lower
September natural gas is set to open 3 cents lower Wednesday morning at $2.59 as traders eye a decrease in the rate of storage surplus attenuation and a commensurate decline in price. Overnight oil markets eased.
NatGas Cash Eases, While Futures Stuck in Neutral Ahead of Fresh Storage Figures
Physical natural gas trading Wednesday continued to be a two-sided affair, with interior basins and market zones showing movement of just a few pennies either side of unchanged while Southern California and New England put up double-digit drops. The NGI National Spot Gas Average fell a nickel to $2.50.
Only Moderate Cooling Expected; September Seen 2 Cents Higher
September natural gas is set to open 2 cents higher Tuesday morning at $2.61 as traders note only modest cooling in extended weather forecasts. Overnight oil markets gained.
Slumping NatGas Cash Outdone by Tortoise-Like Futures Gains
Physical natural gas trading on Tuesday for Wednesday delivery at most market points was characterized for the most part by modest moves of a few pennies in either direction. Notable exceptions were the Northeast, with $2+ moves, and southern California, with double-digit swings.
Analysts See Limited Upside; September Called A Penny Lower
September natural gas is expected to open a penny lower Monday morning at $2.58 as analysts see expected weather demand as capping any concerted price advance. Overnight oil markets were mixed.
NGI The Weekly Gas Market Report
NatGas Demand Growth Big Question in Pacific Northwest, Says NWGA
While robust supplies and low prices are solidly assured for the next 10 years, demand for natural gas is a bit of a crapshoot in the Pacific Northwest, according to the 2016 Gas Outlook released Friday by the Northwest Gas Association (NWGA).
EIA: Shales to Power Domestic, Global NatGas Production Growth
Natural gas production from shales will account for 30% of global output by 2040 as shale resources are developed in more countries, particularly Mexico and Algeria, according to the U.S. Energy Information Administration (EIA).
SoCal, New England Lift NatGas Cash; Futures Quiet
Looking at the majority of market points for Tuesday natural gas deliveries, one might conclude it was a lazy summer day’s trading. However, Southern California and New England quickly put that to rest.