Helped along by colder trends in the forecast for later this month, natural gas futures advanced in early trading Tuesday as analysts saw potential for a modest rebound in prices in the wake of relentless selling. After eking out a 4.7 cent gain in the previous session, the March Nymex contract was up 7.1 cents…
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Oversold Natural Gas Futures Eke Out Small Price Gain, but Cash Continues to Retreat
Coming off a week in which natural gas futures tumbled nearly 30 cents at the front of the curve, the Nymex March contract appears to be trying to find a bottom. The prompt month traded mostly range bound throughout Monday’s session before ultimately settling 4.7 cents higher at $2.457/MMBtu. At A Glance: Production recovering Weather…
North American Natural Gas Price Outlook – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow. NGI senior editors Andrew Baker and Kevin Dobbs discuss the outlook for North American natural gas prices in 2023. They address factors including a mild weather start to the year, robust U.S. production, the Freeport LNG outage and the potential for future…
National Fuel Gas Co. Downgrades Earnings Guidance Following Natural Gas Price Drop
Citing weaker natural gas prices amid robust production, National Fuel Gas Co. said it revised lower its earnings outlook for 2023. The Williamsville, NY-based company now projects earnings per share of $5.35-$5.75, a decrease of $1.10 per share from the midpoint of its prior guidance range. CEO David Bauer said in the company’s fiscal first…
Modest Gains for Natural Gas Futures Early as Market Searches for Support
Natural gas futures climbed modestly in early trading Monday as recent weather model runs teased colder temperatures developing later this month, albeit with extremely mild conditions in the interim. Paring losses from Friday’s session, the March Nymex contract was up 3.3 cents to $2.443/MMBtu at around 8:40 a.m. ET. Models over the weekend maintained “exceptionally…
Sub-Zero Temps Fuel Record Natural Gas Cash Prices, but Quick Warm-Up Sends Futures Floundering
February got off to a wild start in the natural gas spot market during the Jan. 31-Feb. 3 trading week. Parts of the Northeast saw prices surge to record highs, all to come crashing down the very next day. When the dust settled, NGI’s Weekly Spot Gas National Avg. climbed $1.375 to $6.255/MMBtu. Nymex natural…
Bloodshed in Natural Gas Futures, Cash Markets as Temperatures Quickly Thaw
Natural gas futures continued to sell off on Friday as an expected warmup and likely rebound in production over the weekend pressured prices. The March Nymex gas futures contract closed out the week at $2.410/MMBtu, off 4.6 cents on the day. April futures slid 4.2 cents to $2.480. At A Glance: February forecast seen bearish…
EU Rolls Out LNG Reference Price Before TTF Cap Takes Effect
The European Union (EU) has published the first LNG reference price for use in a market control mechanism to cap natural gas prices under regulations that take effect later this month. The reference price is an average of several liquefied natural gas indexes and benchmark prices that will be used to trigger the cap if…
More Mild Temps on Tap for February as Natural Gas Forward Prices Slide
Value continued to erode in regional natural gas forwards markets during the Jan. 26-Feb. 1 trading period as forecasts showed this month was poised to carry over the same warm-dominated themes that have collapsed prices winter-to-date. March fixed prices at benchmark Henry Hub sank 44.7 cents to end the period at $2.473/MMBtu, and regional hubs…
NGI Issues February 2023 Bidweek Revision
NGI has made a revision to our February 2023 Bidweek prices that affects the following locations: