Natural Gas Prices

Asian Spot Buying Increases Amid Hot Weather, Supply Disruptions – LNG Recap

Asian Spot Buying Increases Amid Hot Weather, Supply Disruptions – LNG Recap

Hot weather, maintenance at power generation facilities and LNG production outages have combined to push Asian natural gas prices higher. The July Japan-Korea Marker futures contract was trading above $11/MMBtu after climbing 7% last week.  One of three trains at Chevron Corp.’s Gorgon liquefied natural gas export facility in Western Australia, which mainly serves Asia,…

May 20, 2024
Natural Gas Futures Soaring as Summer Optimism Continues — MidDay Market Snapshot

Natural Gas Futures Soaring as Summer Optimism Continues — MidDay Market Snapshot

Natural gas futures continued to soar through midday trading Monday, with warm May temperatures hinting at upcoming summer cooling demand to keep bulls firmly in control. Here’s the latest: June Nymex futures at $2.741 at around 2:10 p.m. ET, up 11.5 cents Speculators as a group covered short positions during the week ended May 14,…

May 20, 2024
Canadian Fires Present Wildcard for Natural Gas Production, Imports to Western U.S. and Prices

Canadian Fires Present Wildcard for Natural Gas Production, Imports to Western U.S. and Prices

Following a record-setting outbreak in 2023, a fast start to the wildfire season is already threatening interruptions to Canada’s largest crude oil production region. Blazes in the western reaches of the country, if not contained, could also hamper natural gas output in a potential replay of last summer. Impacts to either would present possible implications…

May 20, 2024
Southeast Natural Gas Forwards Rally Amid Hot Forecast, Maintenance

Southeast Natural Gas Forwards Rally Amid Hot Forecast, Maintenance

Natural gas forwards rallied during the May 9-15 trading period as the market keyed in on the upside potential of summer power burns. Front month fixed prices at Henry Hub climbed 22.8 cents to finish the period at $2.422/MMBtu, Forward Look data show. Interestingly, near-month basis differentials weakened at numerous other Lower 48 trading points…

May 20, 2024
Upside Momentum Continuing for Natural Gas Futures After Weekend Break

Upside Momentum Continuing for Natural Gas Futures After Weekend Break

With bullish optimism continuing to build around summer cooling demand potential against a backdrop of leaner daily production numbers, natural gas futures were climbing again in early trading Monday. Coming off a 13.1-cent rally to close out last week’s trading, the June Nymex contract was up another 6.7 cents to $2.693/MMBtu at around 8:40 a.m.…

May 20, 2024
Natural Gas Futures Extend Rally in Week’s Closing Session

Natural Gas Futures Extend Rally in Week’s Closing Session

June natural gas futures surged Friday, extending a rally that brought the contract to near a four-month high as fundamentals suggest a balancing market. At A Glance: Futures up 13.1 cents Production stabilized Waha down after storm The front-month contract settled at $2.626/MMBtu, up 13.1 cents day/day. Meanwhile, NGI’s Spot Gas National Avg. tumbled 13.5…

May 17, 2024
Natural Gas Futures Bulls Seeking Strong Finish to Week — MidDay Market Snapshot

Natural Gas Futures Bulls Seeking Strong Finish to Week — MidDay Market Snapshot

Front month natural gas futures were charting new highs Friday as bulls aimed to make it a third consecutive positive session. In the spot market, meanwhile, deals for weekend and Monday delivery were mostly drifting lower. Here’s the latest: June Nymex futures up 11.4 cents to $2.609/MMBtu as of 2:06 p.m. ET “Reasons for gains…

May 17, 2024
Lower Natural Gas Prices and Curbed Inflation Set Stage for Infrastructure-Supportive Interest Rate Cuts

Lower Natural Gas Prices and Curbed Inflation Set Stage for Infrastructure-Supportive Interest Rate Cuts

Natural gas prices are on the rise in May, but they are coming off some of the lowest levels of the decade in April, as well as weakness through most of 2024. This sapped the will of natural gas bulls for a stretch. However, the price slump dropped consumer heating bills over the past winter…

May 17, 2024
Alberta’s Peyto Better Prepared for Wildfires, Expects Low Natural Gas Prices to Linger

Alberta’s Peyto Better Prepared for Wildfires, Expects Low Natural Gas Prices to Linger

As wildfires rage across Western Canada, Peyto Exploration & Development Corp. has taken measures to mitigate potential impacts to its natural gas operations, according to CFO Tavis Carlson. Carlson and CEO Jean-Paul Lachance hosted a conference call to discuss first quarter earnings for the Calgary-based producer.  Carlson said that after a similarly intense wildfire season…

May 17, 2024
When MVP Spigot Opens, Natural Gas Flows to Begin as Trickle, Putting Focus on SE Price Spreads

When MVP Spigot Opens, Natural Gas Flows to Begin as Trickle, Putting Focus on SE Price Spreads

When the long-delayed Mountain Valley Pipeline LLC (MVP) starts up in the coming weeks, the natural gas flowing south into downstream markets is not expected to be anywhere near the pipeline’s full 2 Bcf/d capacity. That’s because past the southern terminus of the 303-mile pipeline, the Transcontinental Gas Pipe Line Co. (Transco) system faces bottlenecks…

May 17, 2024