As weaker export numbers and a mild spring forecast hampered the near-term demand outlook, natural gas futures sank in early trading Monday. After eking out a modest day/day gain on Friday, the May Nymex contract was down 4.8 cents to $1.722/MMBtu at around 8:45 a.m. ET. June was off 5.1 cents to $1.978. The natural…
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Negative West Texas Prices Weigh Down Weekly Spot Natural Gas Average; Futures See-Saw
Despite bullish national production readings, weekly natural gas cash prices retreated alongside a West Texas supply glut and festering headwinds in the region. NGI’s Weekly Spot Gas National Avg. for the April 8-12 period lost 25.0 cents to $1.210/MMBtu. West Texas prices, as they did the prior week, proved the principal source of weakness. Waha…
As Demand Dissipates, Natural Gas Futures and Spot Prices Finish Trading Week with Whimper
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…
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…