Natural gas futures retreated in early trading Monday as the market weighed signs of a return to action for the long-idled Freeport LNG export terminal against loose balances driven by mild winter weather. The March Nymex contract was down 6.9 cents to $2.445/MMBtu at around 8:50 a.m. ET. In the wake of relentless selling this…
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Natural Gas Weekly Cash Prices Plummet in Wake of Winter Storm, but Futures Look for Bottom
Spot natural gas prices weakened from Feb. 6-10 as temperatures thawed considerably following an early-February Arctic blast. Though pockets of chilly weather remained, losses upward of $20 in the Northeast drove NGI’s Weekly Spot Gas National Avg. down $3.570 to $2.685. Nymex natural gas futures, meanwhile, ticked up a few cents throughout the period as…
Natural Gas Futures Firm as Late-February Cold Seen Possible; Northeast Cash Rallies
Natural gas futures ended the week on a high note, boosted by a brief blast of cold air sweeping across the central and eastern United States. The March Nymex contract settled Friday at $2.514/MMBtu, up 8.4 cents from Thursday’s close. April futures climbed 11.5 cents to $2.607. At A Glance: Production back near record highs…
Forward Prices Moderate Out West; Analysts See ‘Consistent Selling Pressure’ for Natural Gas
Already deflated by overwhelmingly mild weather so far this winter, regional natural gas forward prices saw a mix of generally small adjustments during the Feb. 2-8 trading period, NGI’s Forward Look data show. Having descended into sub-$3 territory, benchmark Henry Hub conceded another 6.9 cents for March fixed price trading, ending the period at $2.404/MMBtu.…
TTF, European LNG Price Gulf Narrows, but Risks Abound in Tight Global Market
The wide spread between European pipeline gas futures and LNG delivered to the continent has narrowed to an average range as global gas prices continue to slide, but analysts warn the risk of volatility still looms large. European regulators and natural gas buyers have been cautiously eyeing the differential between Northwest European liquefied natural gas…
Natural Gas Futures Nudge Higher Despite Near-Term Headwinds; West Cash Cruises
Natural gas futures rose on Thursday despite little change in the supply/demand backdrop of the market. Although the latest storage data were bullish, prices were higher before the report was published, and the print didn’t detract from what likely will be growing surpluses later this month. The March Nymex gas contract reached a $2.529 intraday…
Natural Gas Futures Slightly Higher as Forecasts Hint at ‘Frosty’ Late February Temps
Natural gas futures were marginally higher in early trading Friday as the market continued to mull balances following a larger-than-expected storage withdrawal, and as forecasts hinted at colder temperatures developing later this month. After adding 3.4 cents in the previous session, the March Nymex contract was up 1.2 cents to $2.442/MMBtu at around 8:40 a.m.…
Natural Gas Futures Edge Up Slightly Amid Bullish EIA Storage Data
Natural gas futures rose on Thursday despite little change in the supply/demand backdrop of the market. Although the latest storage data were bullish, prices were higher before the report was published, and the print didn’t detract from what likely will be growing surpluses later this month. The March Nymex gas contract reached a $2.529 intraday…
Natural Gas Forwards Mixed as West Coast Moderates; Futures Continue Floundering
Already deflated by overwhelmingly mild weather so far this winter, regional natural gas forward prices saw a mix of generally small adjustments during the Feb. 2-8 trading period, NGI’s Forward Look data show. Having descended into sub-$3 territory, benchmark Henry Hub conceded another 6.9 cents for March fixed price trading, ending the period at $2.404/MMBtu.…
EIA Forecasting Steep Decline for Henry Hub Prices in 2023 as Demand Falls
In a nod to the steep decline in natural gas prices following mild weather this winter, the Energy Information Administration (EIA) is slashing its 2023 Henry Hub forecast, with the agency now modeling a 50% discount versus 2022 prices. The “significantly warmer-than-normal” weather in January depressed space heating demand and padded storage inventories, EIA said…