With storage levels expected to lag behind the five-year average this summer, Henry Hub natural gas spot prices will soar to $8.59/MMBtu on average in the second half of this year, according to updated forecasting from the Energy Information Administration (EIA). Henry Hub prices are forecast to average $7.83 for the second quarter after averaging…
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Cash Prices, Natural Gas Futures Fizzle as Output Rebounds
Natural gas futures floundered for a second consecutive session on Monday, as speculative buyers moved to the sidelines following a colossal bull run to start May. A catalyst for that rally – weak production – showed signs of recovery, easing concerns about inadequate supplies to meet extreme heat-driven demand in the South. The June Nymex…
Aggressive Sell-Off in Natural Gas Futures Continues Early, Despite Hefty Production Drop
After plunging more than $1.00 on Monday, natural gas futures were down sharply again early Tuesday despite a large day/day production decline. The June Nymex futures contract was trading 35.6 cents lower at $6.670/MMBtu at around 8:50 a.m. ET. Traders appeared to be brushing off the precipitous drop in output, perhaps because most of the…
With Appetite for Destruction, Bears Maul Natural Gas Futures
Natural gas futures floundered for a second consecutive session on Monday, as speculative buyers moved to the sidelines following a colossal bull run to start May. A catalyst for that rally – weak production – showed signs of recovery, easing concerns about inadequate supplies to meet extreme heat-driven demand in the South. The June Nymex…
Natural Gas Futures Finally Lose Steam; Production Picks Up
Natural gas futures retreated Friday, ending five days of frenzied rallying, as markets assessed an increase in production and traders took profits. The June Nymex gas futures contract fell 74.0 cents day/day and settled at $8.043/MMBtu. July dropped 71.3 cents to $8.128. At A Glance: Traders take profits Output inches ahead Demand drivers loom large…
June Natural Gas Called Slightly Lower Amid ‘Unsettling Volatility’
Belying volatile after-hours price action, natural gas futures were trading a few cents lower early Monday as analysts observed bearish short-term trends in weather-driven demand and production. The June Nymex contract was down 7.2 cents to $7.971/MMBtu at around 8:50 a.m. ET. Recent price action has been marked by “unsettling volatility,” according to EBW Analytics…
ConocoPhillips said Insulated from Natural Gas Price Volatility, While Building Stakes in Qatar, Aussie LNG
ConocoPhillips joined other exploration and production (E&P) companies in reporting rising earnings, thanks to geopolitical impacts to oil and gas prices, but management said it should move on “full value chain” opportunities in liquefied natural gas (LNG) to further enhance its gas business. The Houston-based independent, the world’s largest, has substantial global holdings in gas.…
Weekly Natural Gas Prices Power Forward as Production Wanes, Heat Looms Large
Weekly natural gas cash prices soared as production struggled and expectations for robust summer demand mounted. NGI’s Weekly Spot Gas National Avg. for the May 2-6 period jumped $1.075 cents to $7.800. Fueled by forecasts for strong natural gas demand in the summer ahead and elevated calls for American exports of liquefied natural gas (LNG)…
Natural Gas Futures Falter, Ending Furious Rally; Spot Prices Sputter
Natural gas futures retreated Friday, ending five days of frenzied rallying, as markets assessed an increase in production and traders took profits. The June Nymex gas futures contract fell 74.0 cents day/day and settled at $8.043/MMBtu. July dropped 71.3 cents to $8.128. At A Glance: Traders take profits Production inches ahead Demand drivers loom large…
Natural Gas Forwards Rally Continues, but ‘Feast or Famine’ Open May Lie Ahead
Natural gas forward prices made huge leaps during the period ending May 4 as production struggled to grow beyond recent levels and heat began to intensify in parts of the country. With hefty storage deficits poised to hold steady for a while longer, June fixed prices rallied by an average $1.57/MMBtu, according to NGI’s Forward…