Following a loss last week, natural gas futures bounced back on Monday as traders mulled reports of robust power burns and lighter production. The June Nymex contract gained 29.3 cents day/day and settled at $7.956/MMBtu. July rose 28.8 cents to $8.053. The prompt month had closed lower Friday and shed 5% the past week. NGI’s…
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Magnolia Reaping ‘Early Stages’ of Growth from Austin Chalk Development
Magnolia Oil and Gas Corp. may be at the beginning of a year-long surge in production growth after a strong showing in the first three months of the year in the Eagle Ford Shale and Austin Chalk formation. The Houston-based independent previously launched development programs for parts of its South Texas assets, including the Giddings…
Production Declines Keep Skittish Market on Edge as Natural Gas Futures Rally Early
Natural gas futures were rallying early Tuesday as a drop in the latest production estimates added to the concerns of a market already skittish over supply adequacy heading into the summer cooling season. The June Nymex contract was up 35.1 cents to $8.307/MMBtu at around 8:45 a.m. ET. July was up 34.3 cents to $8.396.…
Natural Gas Futures Rebound Amid Smoldering Supply/Demand Imbalance Threats
Following a loss last week, natural gas futures bounced back on Monday as traders mulled reports of robust power burns and lighter production. The June Nymex contract gained 29.3 cents day/day and settled at $7.956/MMBtu. July rose 28.8 cents to $8.053. The prompt month had closed lower Friday and shed 5% the past week. NGI’s…
Natural Gas Futures Finish Volatile Week on Down Note
Natural gas futures fluctuated Friday, posting an early double-digit gain before dropping deep in the red by midday amid profit-taking to close out the week. The June Nymex gas futures contract ultimately settled at $7.663/MMBtu, down 7.6 cents day/day. July declined 7.0 cents to $7.765. At A Glance: Traders take profits to close week Cooling…
Heat Seen Driving Strong Power Burns Over Weekend as Natural Gas Climbs Early
With conditions seen favoring robust cooling demand heading into the summer, natural gas futures climbed in early trading Monday. The June Nymex contract was up 16.9 cents to $7.832/MMBtu at around 8:40 a.m. ET. July was up 17.2 cents to $7.937. Strong power generation demand recently, driven by heat in the southern Lower 48 and…
Ovintiv Pursuing Natural Gas Price ‘Diversification,’ Citing Strong Market Fundamentals
Ovintiv Inc. is exploring options to increase the exposure of its multi-basin upstream portfolio to a dynamic global natural gas market, CEO Brendan McCracken said. The Denver-based independent works in numerous onshore plays throughout North America, including in the Montney Shale, Anadarko Basin, Permian Basin, Bakken Shale and Uinta Basin. On a call to discuss…
Weekly Natural Gas Prices, Futures See-Saw Through Wild Trading Week
In a volatile stretch for natural gas trading, weekly cash prices ultimately gave up ground after soaring to unsustainable levels earlier in May. NGI’s Weekly Spot Gas National Avg. for the May 9-13 period dropped 68.5 cents to $7.115. A week earlier, it had spiked $1.075 cents to $7.800. The June Nymex natural gas futures…
Amid Volatile Trade, Natural Gas Futures Fall Short of Fourth Straight Gain
Natural gas futures fluctuated Friday, posting an early double-digit gain before dropping deep in the red by midday amid profit-taking to close out the week. The June Nymex gas futures contract ultimately settled at $7.663/MMBtu, down 7.6 cents day/day. July declined 7.0 cents to $7.765. At A Glance: Traders take profits to close week Cooling…
Natural Gas Forwards Fall Despite Escalating Storage Worries; Wildfire Threatening California Markets
Against a backdrop of persistently wild swings, natural gas forward prices came tumbling down during the trading period from May 5-11, according to NGI’s Forward Look. June fixed natural gas prices averaged $1.130 lower on the week, with both the balance of summer (June-October) and the upcoming winter (November-March) also dropping more than $1.00, Forward…