Physical natural gas for Thursday delivery managed a small advance in Wednesday’s trading as gains in California, the Rockies and the Midcontinent more than made up for losses in the Northeast. Temperature forecasts continue to be the 800-pound gorilla in the room, and by Friday highs in both New York and Chicago are expected to be more than 15 degrees above normal.
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Additional Shorts Ill-Advised, Trader Says; January Called 4 Cents Lower
January natural gas is set to open 4 cents lower Tuesday morning at $2.03 as traders study forecasts calling for mild temperatures in eastern and Midwest markets out to Christmas. Overnight oil markets continued to weaken.
Cash NatGas Weakens; Technicals Offer Minimal Help to Bulls
The tale of two markets Tuesday reversed itself from Monday, with physical natural gas taking some hard punches and futures holding steady at least for the moment.
Ongoing Mild Temperatures Forecast; January Called 6 Cents Lower
January natural gas is set to open 6 cents lower Monday morning at $2.13 as traders see no redeeming weather features on the horizon and overnight oil markets plunged.
CFTC Settles Charges Against Total Gas & Power for $3.6M
The U.S. Commodity Futures Trading Commission (CFTC) on Monday issued an order against Total Gas & Power North America (TGPNA) and one of its West Desk traders bringing and settling charges for attempted manipulation of natural gas monthly index settlement prices during bidweeks at four major trading hubs in Texas and elsewhere in the Southwest.
Physical NatGas Resilient, Yet Futures Sacked For Loss
It was a tale of two markets Monday, as physical gas for Tuesday delivery for the most part held its ground, but natural gas futures took it on the chin under continued weather forecasts showing mild temperatures into the latter half of December and cascading crude and products prices.
Traders Digest Ongoing Mild Temps, Jobs Report; January Seen Flat
January natural gas is expected to open unchanged Friday morning at $2.18 as traders see a market precariously holding on to current price levels. Overnight oil markets rose.
NGI The Weekly Gas Market Report
Price Doldrums Drag 3Q2015 NatGas Marketers Totals Down Another 3%
More than three-quarters of the companies participating in NGI’s 3Q2015 Top North American Gas Marketers Ranking, including heavyweights like BP plc, Shell Energy NA and ConocoPhillips, reported lower sales transaction numbers in the third quarter than they did in the same period last year, as they continue to wait for depressed commodities prices to right themselves.
Kinder Affirms Commitment to ‘Investment Grade’
Three days after Moody’s Investors Service changed its outlook on Kinder Morgan Inc. (KMI) debt to “negative” from “stable,” the company said it “…will construct its 2016 plan to maintain an investment grade rating with all three [credit rating] agencies.”
Cash NatGas Glides Lower,Yet Futures Hold Their Ground
In spite of the fact the calendar says this is the high-demand period for natural gas, physical traders for weekend and Monday delivery elected to pass on three-day deals and instead rely on the ease of electronic communications to make incremental purchases should the need arise.