Natural gas futures were bound by a narrow range of gains and losses Friday. This capped a topsy-turvy trading week that featured falling production and an early rally, but also rapidly waning weather demand and choppy LNG activity that later sapped sentiment. At A Glance: Mild weather ahead Output near 99 Bcf/d Storage surplus holds…
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Permian Natural Gas Forwards Plunge; Prices Steady Elsewhere on Shoulder Season Conditions
With the market weighing mild shoulder season weather and bloated storage against weaker production, regional natural gas forward prices generally held steady at the front of the curve during the April 4-10 trading period. Fixed prices at benchmark Henry Hub finished the period at $1.888/MMBtu for May delivery, up 4.3 cents week/week, according to NGI’s…
Natural Gas Futures Steady; Cash Plunging Ahead of Weekend — MidDay Market Snapshot
Natural gas futures were on track to finish near even at the front of the curve through midday Friday as a steep sell-off in the previous session had bulls licking their wounds. Spot prices, meanwhile, were plummeting on pleasant April weather and light weekend demand. Here’s the latest: May Nymex contract at $1.773/MMBtu at around…
With Stout Supply in Storage, Natural Gas Futures and Cash Prices Sell Off
Natural gas futures on Thursday fumbled away gains made earlier this week following a stronger-than-expected government inventory print and forecasts for benign weather and weak demand ahead. At A Glance: EIA prints 24 Bcf build Production holds lower Weather demand fades Following modest gains over the prior four sessions, the May Nymex gas futures contract…
Oklahoma AG Alleges ‘Unconscionable’ Natural Gas Price Gouging by Symmetry, Enable During Winter Storm Uri
Oklahoma is suing two natural gas marketers over alleged market manipulation and price gouging during Winter Storm Uri in February 2021. The deep freeze wreaked havoc on natural gas and electricity supply in the South Central United States, particularly Texas and Oklahoma, causing prolonged energy outages and extreme price spikes. Rather than taking measures to…
Natural Gas Futures Steady Amid LNG Weakness, Cooler Forecast Trends
Following a heavy sell-off in the previous session, natural gas futures treaded water in early trading Friday as the market continued to digest the price implications of an unexpectedly plump springtime injection. The May Nymex contract was trading at $1.766/MMBtu, up 0.2 cents, as of 8:40 a.m. ET. June was up 0.2 cents to $2.002.…
Natural Gas Futures Snap Winning Streak Following Bearish Storage Print; Cash Prices Clunk
Natural gas futures on Thursday fumbled away gains made earlier this week following a stronger-than-expected government inventory print and forecasts for benign weather and weak demand ahead. At A Glance: EIA prints 24 Bcf build Production holds lower Weather demand fades Following modest gains over the prior four sessions, the May Nymex gas futures contract…
Natural Gas Forwards Steady as Market Waits for Summer Cooling Demand
With the market weighing mild shoulder season weather and bloated storage against weaker production, regional natural gas forward prices generally held steady at the front of the curve during the April 4-10 trading period. Fixed prices at benchmark Henry Hub finished the period at $1.888/MMBtu for May delivery, up 4.3 cents week/week, according to NGI’s…
Mexico Natural Gas Imports Ticking Up in April Amid Bearish Outlook for Pricing – Spotlight
North American natural gas futures gained some ground this week with signs that U.S. production was scaling back, but still held under $2.00/MMBtu. The longer term picture remains bearish, at least for this year. This week, the U.S. Energy Information Administration (EIA) cut its projected average Henry Hub natural gas spot price to $2.20 for…
Natural Gas Futures, Cash Tumbling as Bears in Control — MidDay Market Snapshot
Natural gas futures continued to plunge lower through midday trading Thursday as a larger-than-expected storage injection refocused the market’s attention on the post-winter supply glut. Here’s the latest: May Nymex futures down 13.0 cents to $1.755/MMBtu as of 2:21 p.m. ET A high-side injection miss from the U.S. Energy Information Administration’s (EIA) storage report Thursday…