Natural Gas Prices

Natural gas futures continued to build upward momentum early Tuesday as traders looked past upcoming hefty injections to the prospect of production declines and summer cooling demand that could ease oversupplied conditions. The June Nymex contract was up 4.7 cents to $2.422/MMBtu shortly after 8:40 a.m. ET. The front month rallied 10.9 cents on Monday,…

Natural gas futures traders shrugged off continued mild weather forecasts and elevated supply data, seizing instead on a sharp drop in the weekly rig count to push prices higher for a second day. At A Glance: Bargain buying continues Rig count invigorates bulls NGI sees 110 Bcf injection Following a 7.6-cent gain to close out…

Natural gas prices in Europe and Asia fell again on Monday, continuing six consecutive weeks of losses as both markets are well supplied and demand remains muted.  The Title Transfer Facility (TTF) prompt contract gave up another 1% Monday to finish again near $10/MMBtu after declining by 12% last week. Winter prices further out the…

Ovintiv Inc. balanced its focus between its Permian Basin program and maximizing earnings from its Montney Shale assets during 1Q2023, exceeding production expectations and increasing revenue despite falling U.S. natural gas prices during the quarter. The Denver-based company made good on its word from the previous quarter about its goal to make Permian growth in…

Natural gas futures pushed higher in early trading Monday as the market continued to ponder the balance implications of recent data showing a steep decline in drilling activity.  Coming off a 7.6-cent gain to close out last week’s trading, the June Nymex contract was up another 6.0 cents to $2.326/MMBtu at around 8:40 a.m. ET.…

Weekly natural gas cash prices fell again amid benign shoulder season weather and stout supplies. NGI’s Weekly Spot Gas National Avg. for the May 8-12 period slumped 15.0 cents to $1.715. The average dropped 30.0 cents the prior week. Production pulled back early in the week amid maintenance events and wildfires in western Canada. But…

After losses in the two previous sessions, natural gas futures flailed into Friday, losing ground early as forecasts pointed to weak weather-driven demand and supplies remained robust. But the prompt month bounced back in early afternoon trading after the latest Baker Hughes Co. (BKR) data showed natural gas-directed rigs dropped by 16 to 141. The…

Natural gas forward prices found some footing during the May 4-10 period as the majority of U.S. locations were supported by strong power burns and easing production, according to NGI’s Forward Look. Key Northeast markets, however, continued to slide ahead of a multi-week span of mild weather that may expand already plump storage inventories in…

In a potential sign of low commodity prices finally catching up with upstream operators, the U.S. natural gas rig count plummeted during the week ended Friday (May 12), dropping 16 rigs to end the period at 141, according to data from Baker Hughes Co. (BKR). Prior to the latest BKR tally, the U.S. natural gas…