March natural gas is expected to open 3 cents lower Thursday morning at $2.01 as traders anticipate government storage data to show little impact on a long-term supply surplus that shows no sign of diminishing any time soon. Overnight oil markets were mixed.
Markets
Articles from Markets
Analysts Hint at Scrambled NatGas Storage Data; Futures Ease Nonetheless
Natural gas futures lost ground Thursday morning after the Energy Information Administration (EIA) reported a storage withdrawal that was somewhat less than what traders were expecting.
Spectra Emphasizes NatGas, Says More Access Northeast Contracts Coming
Executives at Spectra Energy Corp. (SE) and its Spectra Energy Partners LP (SEP) envision a future that is largely predicated on expanded use of natural gas for power generation, liquefaction and export and to serve utility demand, particularly in the Northeast.
Cash NatGas Boosted by Strong East, While Futures Traders Mull Lean Storage Pull; March Loses 7 Cents
Physical natural gas traders were reluctant Thursday to make deals after the release of Energy Information Administration (EIA) storage data, and, with the exception of the Northeast, gas for Friday delivery at all points moved lower.
Trade Group Exec Says New England Power Generators Failing to Secure Long-Term Gas Contracts
New England’s power generators aren’t subscribing to the kind of natural gas volumes that would serve peak demand during cold stretches like those seen during the polar vortex of winter 2013-2014 and they’re not driving the region’s infrastructure growth, says Northeast Gas Association CEO Thomas Kiley.
PHMSA Issues NatGas Storage Advisory; SoCalGas Facing More Lawsuits
Natural gas storage facilities are facing new pressure after the U.S. Department of Transportation (DOT) pipeline unit issued a safety advisory Tuesday for operators to immediately inspect their facilities. Southern California Gas Co. (SoCalGas), wrestling with the three-month-long Aliso Canyon storage well leak, also is facing more lawsuits.
NatGas Cash Gains, While Futures Steady Ahead of Storage Data
Physical natural gas traded on Wednesday for next-day delivery managed to recover somewhat from Tuesday’s drubbing with help from stout gains at eastern points. Most market points added a penny or two but eastern locales on average gained close to 20 cents.
Outlier Weather Model No Help to Bulls; March Called 3 Cents Lower
March natural gas is expected to open 3 cents lower Wednesday morning at $2.00 as most weather models can come up with no convincing pattern capable of significantly shifting the supply-demand balance. Overnight oil markets were mixed.
Fund Shorts Reasserting Themselves; March Seen 11 Cents Lower
March natural gas is set to open 11 cents lower Tuesday morning at $2.04 as once again, weather forecasts could not ascertain any market-moving cold and fund managers covet the short side of the market. Overnight oil markets collapsed.
NatGas Cash Bests Futures in Run Lower; March Loses 13 Cents
At the close of futures trading Tuesday, it was an open question whether March futures or spot natgas cash prices would prove more resilient. In the end, futures proved slightly more hardy, sustaining losses about a penny less than cash.