Just as Monday physical natural gas trading saw a near-40 cent rise in Tuesday deliveries, Wednesday packages took just over a 30-cent hit as a trifecta of moderating temperatures, soft next-day power pricing and decreasing forecast power loads made incremental purchases of next-day gas unattractive.
Markets
Articles from Markets
Less Heating Demand Seen; February Called 4 Cents Lower
February natural gas is set to open 4 cents lower Monday morning at $2.30 as traders tweak forecasts to accommodate a lower level of near-term heating demand. Overnight oil markets rose.
Winter Chill Props Up NatGas Forwards to Finish 2015
Natural gas forwards were up by the double-digits for the period between Dec. 24 and 30 as more sustained cold weather finally arrived, dropping temperatures, bolstering demand and causing freeze-offs in parts of the country.
U.S. NatGas Prices ‘Seemingly Hopeless,’ But Oil Poised for Bull Run, Says Raymond James
U.S. natural gas prices look terrible again this year and could decline another 25% from 2015 as the structural oversupply continues, Raymond James & Associates Inc. said Monday.
Cash NatGas Rockets Higher; Futures, Not So Much
Physical natural gas prices bounded higher on Monday for Tuesday trading as temperature outlooks in major eastern and Midwest population centers either held seasonal norms, or in the near term were forecast to drop below normal by, in some instances, double-digits.
Highly Uncertain Storage Figures On Tap; February Called 15 Cents Higher
February natural gas is expected to open 15 cents higher Thursday morning at $2.36 as traders factor in additional cooling and a high-risk storage report. Overnight oil markets were mixed.
NatGas Bulls Hold On to Strong Open Following Unsurprising EIA Data
Natural gas futures were unable to improve upon a sharply higher open Thursday morning after the Energy Information Administration (EIA) reported a storage withdrawal that was about in line with what traders were expecting.
Physical NatGas, Futures End Year On A Positive Note; February Adds 12 Cents
Physical natural gas for delivery over the extended holiday period gained ground in Thursday’s trading as losses at California and Rocky Mountain points were easily offset by gains in the Gulf, Midcontinent and Northeast.
Despite Cold, NatGas Supplies Still Plump; February Called 4 Cents Lower
February natural gas is set to open 4 cents lower Wednesday morning at $2.33 as traders consolidate positions following two days of double-digit advances and also assess the longer-term supply outlook. Overnight oil markets retreated.
Both NatGas Cash, Futures Suffer Altitude Sickness; February Falls 15 Cents
It was a tale of two physical markets Wednesday as Thursday gas traded sharply lower at Rockies and California points, but in the Northeast next-day deliveries added about a dime on a firm power market. NGI’s National Spot Gas Average fell 13 cents to $2.32 and futures prices weakened as well.