Markets

An Opal Hub underground natural gas storage facility closed by a fire in 2013, Ryckman Creek, reopened at the end of December, the head of the Wyoming Pipeline Authority (WPA) told NGIon Friday.

Buyers weren’t taking any chances Friday in acquiring supplies of weekend and Monday gas. Weather forecasts called for a frosty start to the week, and in major eastern markets restrictions helped boost prices by close to $1.

February natural gas is set to open 3 cents higher Friday morning at $2.41as weather forecasts calling for a return of El Nino-like warmth for the last half of January become less certain. Overnight oil markets rose.

February natural gas is set to open 3 cents higher at $2.30 as traders anticipate the season’s first triple-digit storage withdrawal and weather forecasts turn a little cooler. Overnight oil markets continued their trek lower.

Natural gas futures surged Thursday morning after the Energy Information Administration (EIA) reported a storage withdrawal that was significantly greater than what the market was expecting.

For the most, part next-day gas prices moved within a few cents of unchanged in Thursday trading, but factor in hefty declines seen in New England and the East and the market tenor changes.

February natural gas is set to open unchanged Wednesday morning at $2.32 as traders prepare for an onslaught of cold air but at the same time try to discern any late-month El Nino-driven warming trends. Overnight oil markets plunged.

Natural gas prices sagged ever further in 2015, pressured downward by production growth and generally mild weather, according to an Energy Information Administration (EIA) review, but there is light at the end of the tunnel.

Physical natural gas for Thursday delivery fell modestly in Wednesday trading, in spite of hefty declines posted at eastern points. Outside of the Northeast, gains of a few pennies to a nickel were common, but at the end of the day the NGI National Spot Gas Average fell 4 cents to $2.38.