All eyes in Mexico’s energy sector were on Washington, DC on Thursday as President Biden hosted Canadian Prime Minister Justin Trudeau and Mexican President Andrés Manuel López Obrador in the first summit of its kind since 2016. Ahead of the so-called “Three Amigos” summit, the Canadian Chamber of Congress, Mexican business group Consejo Coordinador Empresarial…
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December Natural Gas Futures Find New Footing Amid Export Demand Strength
Natural gas futures vaulted higher on Thursday as production eased, export demand jumped and traders looked ahead to colder weather and the onset of winter storage withdrawals. The December Nymex contract rose 8.6 cents day/day and settled at $4.902/MMBtu. January added 8.1 cents to $4.995. Coming off a 36.1-cent selloff in the previous session, Thursday’s…
Relentless Sell-Off Continues for Natural Gas Forwards, but Pipeline Issue Rocks Pacific Northwest
Natural gas forward prices recorded a third straight week in the red as weather models continued to show variability in the forecasts, rather than sustained cold. Liquefied natural gas (LNG) demand, meanwhile, neared all-time highs as production fluctuated but stood well off summer lows. All the gyrations in the supply/demand balance left the December forward…
December Natural Gas Futures, Spot Prices Sputter
Natural gas futures careened on Wednesday amid profit-taking and expectations for a relatively plump storage increase for mid-November. The December Nymex contract dropped 36.1 cents day/day and settled at $4.816/MMBtu. January fell 35.6 cents to $4.914. At A Glance: BREAKING: U.S. EIA on Thursday reported an injection of 26 Bcf natural gas into storage for…
December Natural Gas Futures Tread Water After In-line Storage Injection Fails to Impress
The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 26 Bcf natural gas into storage for the week ended Nov. 12. The result was essentially on par with market expectations, and futures took the result in stride, holding onto most of the gains made prior to the print. Ahead of the EIA…
Natural Gas Futures Rebound Early; Market Anticipating EIA Injection
Natural gas futures pared losses ahead of the latest round of government inventory data early Thursday as strong liquefied natural gas (LNG) takeaway continued to lend support to prices. Coming off a 36.1-cent sell-off in the previous session, the December Nymex contract was up 17.7 cents to $4.993/MMBtu at around 8:50 a.m. ET. Analysts at…
Natural Gas Prices Reverse Course, with December Futures in Freefall
Natural gas futures careened on Wednesday amid profit-taking and expectations for a relatively plump storage increase for mid-November. The December Nymex contract dropped 36.1 cents day/day and settled at $4.816/MMBtu. January fell 35.6 cents to $4.914. NGI’s Spot Gas National Avg. shed 18.5 cents to $4.845. The prompt month had advanced more than 38 cents…
December Natural Gas Futures Sustain Rally as Global Supply Worries Intensify
Natural gas futures on Tuesday rallied with vigor amid continued strength in U.S. exports of liquefied natural gas (LNG) and renewed concerns about European supplies that sent global gas prices higher. At A Glance: Futures surge for a second straight day Russian supplies to Europe called into question Spot prices jump on storms in West…
Natural Gas Futures Test $5 Boundary Early as Weather Models Trend Warmer
Milder trending weather model runs put pressure on natural gas futures in early trading Wednesday, threatening to plunge prices back below the psychological $5 barrier. The December Nymex contract was down 17.1 cents to $5.006/MMBtu at around 8:40 a.m. ET. Forecasts shifted warmer overnight, mostly attributable to changes in the American model, according to Bespoke…
With European Supplies in Doubt, Momentum Mounts for December Natural Gas Futures
Natural gas futures on Tuesday rallied with vigor amid continued strength in U.S. exports of liquefied natural gas (LNG) and renewed concerns about European supplies that sent global gas prices higher. The December Nymex contract jumped 16.0 cents day/day and settled at $5.177/MMBtu. A day earlier, the prompt month posted a 22.6-cent gain. January advanced…