Markets

October natural gas is expected to open 4 cents lower Tuesday morning at $2.75 as traders discount current warmth in favor of expected weather moderation. Overnight oil markets were mixed.

Physical natural gas for Wednesday delivery jumped at most points as titanic gains at eastern points shifted the trading landscape upwards and traders braced for one last blast of warm and humid conditions before summer makes way for fall.

October natural gas is set to open 3 cents higher Friday morning at $2.82 as traders assess the loss of demand from now-Tropical Storm Hermine and start calculating a new set of storage builds going forward after Thursday’s surprise Energy Information Administration inventory report. Overnight oil markets rebounded.

Canadian energy merchants have set out to repeat an all-but-forgotten past success as an escape from glutted natural gas markets across North America.

BP plc and a host of other perennial natural gas marketing powerhouses reported impressive numbers for the second quarter, according to NGI’s 2Q2016 Top North American Gas Marketers Ranking, nearly erasing the previous quarter’s declines in the first upturn in sales in more than two years.

September got off to a decidedly bearish start as a much larger-than-expected natural gas storage injection and the upcoming holiday weekend combined to pull natural gas forwards markets down by an average of more than 10 cents between Aug. 26 and Sept. 1, according to NGI’s Forward Look.

Natural gas deliveries for electric power generation were 976.8 Bcf (32.6 Bcf/d) in June, a 9.4% increase compared with 893.3 Bcf (29.8 Bcf/d) in June 2015, the Energy Information Administration (EIA) said.

Offshore oil and gas operators in the Gulf of Mexico (GOM) were re-boarding platforms and rigs and restoring production Friday as the remnants of Hermine, weakened again to tropical storm strength, moved northeast across North Carolina and toward the Atlantic Ocean, the Bureau of Safety and Environmental Enforcement (BSEE) said.

Physical natural gas for the four-day Labor Day holiday weekend fell as temperature outlooks moderated and traders assessed the loss of energy demand from the storm-ravaged Southeast.