Despite expectations for a rare surplus-shrinking result from the latest government inventory data, natural gas futures skidded lower in early trading Thursday as forecasts pointed to mild springtime demand that would preserve a healthy storage cushion. The May Nymex contract was down 6.1 cents to $2.123/MMBtu at around 8:45 a.m. ET. Expectations for Thursday’s Energy…
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Expiring April Natural Gas Futures Fall Below $2 as Downward Price Pressure Endures
The April Nymex natural gas futures contract floundered on its final day as the front month – a third consecutive loss – as the intersection of robust production and waning demand again captured traders’ attention. At A Glance: Production offsets LNG demand Analysts see 50s Bcf withdrawal May takes over as prompt month April futures…
Ahead of Expiration, April Natural Gas Futures Falter Again; Spot Prices Slip
Beleaguered natural gas futures fell a second day, hampered again by robust supplies and weakening weather-driven demand. The April Nymex gas futures contract lost 5.8 cents day/day and closed at $2.030/MMBtu. May futures settled at $2.147, down 6.8 cents. NGI’s Spot Gas National Avg. slipped 9.5 cents to $2.470. Production held above 100 Bcf/d on…
Expiring April Natural Gas Contract Tests Sub-$2 Early as Weather Patterns Underwhelm
Weighed down by a healthy storage cushion as the market exits the withdrawal season, natural gas futures continued to grind lower in early trading Wednesday. The expiring April Nymex contract was down 3.9 cents to $1.991/MMBtu at around 8:40 a.m. ET. May was off 2.2 cents to $2.125. Natural gas prices have been “tempting the…
April Natural Gas Futures Limp Toward Expiry, Approach $2 Handle; Cash Prices Slide
Beleaguered natural gas futures fell a second day, hampered again by robust supplies and weakening weather-driven demand. The April Nymex gas futures contract lost 5.8 cents day/day and closed at $2.030/MMBtu. May futures settled at $2.147, down 6.8 cents. NGI’s Spot Gas National Avg. slipped 9.5 cents to $2.470. Production held above 100 Bcf/d on…
Eastern Mediterranean Natural Gas Seen Boosting LNG Supplies for Europe
The European Union (EU) has been eyeing a boom in Eastern Mediterranean natural gas production to ease price volatility, but new research suggests more volumes could be a mid-term source of relief rather than a long-term solution. In a report for Columbia University’s Center on Global Energy Policy, the authors posit that as much as…
What Did Our Editors Learn at CERAWeek 2023? – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow. NGI Managing Editor Carolyn Davis has a roundtable chat with editors Jacob Dick, Kevin Dobbs and Morgan Evans about what they learned at this year’s CERAWeek by S&P Global conference in Houston. The latest on natural gas prices, potential breakthroughs on U.S.…
Loose Supply/Demand Balances Weigh on April Baseload Natural Gas Prices; Permian Teetering on Edge
Baseload natural gas prices for April were poised to plummet from already low levels, with weather models taking a decidedly warmer turn as bidweek trading got underway Monday. Losses were stout in the Northeast, according to NGI’s Bidweek Alert (BWA), even with the region likely to see chilly weather linger over the next few weeks.…
Slumping U.S. Natural Gas Prices Lead Energy Analysts to Lower Forecasts into 2024
The U.S. natural gas market is predicted to be oversupplied this year from a warmer-than-normal start to the year and declining demand, which are likely to suppress prices into 2024. Energy analysts trimming their domestic natural gas price forecasts include BMO Capital Markets, Goldman Sachs Commodity Markets, Jefferies and Tudor, Pickering, Holt & Co. (TPH). …
Sub-$2 Natural Gas Futures Seen in Play for April Contract as Forecasts Warm
Natural gas futures continued to grind lower in early trading Tuesday, weighed down by warmer-trending late-season forecast maps. The expiring April Nymex contract was down 4.0 cents to $2.048/MMBtu at around 8:40 a.m. ET. May was off 3.5 cents to $2.180. After falling below support at $2.12, the April contract is poised to continue drifting…