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Weekly Cash Natural Gas Prices Mostly Rise; Futures Early Rally Fades Despite Fundamentals

Weekly Cash Natural Gas Prices Mostly Rise; Futures Early Rally Fades Despite Fundamentals

Weekly spot natural gas prices notched gains as intensifying heat in portions of the country stoked cooling demand. Futures surged in anticipation of the rising summer load but sank into the week’s end on profit-taking. NGI’s Weekly Spot Gas National Avg. for the May 21-28 period, extended due to the long Memorial Day holiday weekend,…

May 24, 2024
June Natural Gas Futures Tumble in Consolidation as Expiration Nears; Holiday Pressures Cash

June Natural Gas Futures Tumble in Consolidation as Expiration Nears; Holiday Pressures Cash

June Nymex natural gas futures continued to sputter Friday after rising early Thursday to their highest price level since mid-January before finishing sharply lower. At A Glance: Futures down 13.7 cents Fundamental sway limited Cash down despite heat The front-month contract settled at $2.520/MMBtu, down 13.7 cents day/day. More heavily traded July futures fell 15.0…

May 24, 2024
Natural Gas Prices Rally in Key Production Regions to Launch June Bidweek Trading as Summer Nears

Natural Gas Prices Rally in Key Production Regions to Launch June Bidweek Trading as Summer Nears

Natural gas prices pushed higher in key regions during the first day of June bidweek trading on Friday as production leveled off below 100 Bcf/d, storage surpluses narrowed and forecasts pointed to a hot start to summer. NGI’s Bidweek Alert (BWA) showed strength from Texas to the Rockies – important production regions – to kick…

May 24, 2024
Southeast Natural Gas Summer Price Premiums Rise as Transco Constraint Crimps Flows  

Southeast Natural Gas Summer Price Premiums Rise as Transco Constraint Crimps Flows  

Regional natural gas forwards continued to soar during the May 16-22 trading period in parallel to the recent bullish momentum lifting summer Nymex futures to new heights, data from NGI’s Forward Look show. Fixed prices at Henry Hub rallied 42.3 cents week/week to finish at $2.845/MMBtu for June delivery. Gains at the benchmark were strongest…

May 24, 2024
Natural Gas Futures, Cash Plunging Ahead of Memorial Day — MidDay Market Snapshot

Natural Gas Futures, Cash Plunging Ahead of Memorial Day — MidDay Market Snapshot

With traders maneuvering ahead of a long holiday weekend, natural gas futures were headed for a second straight sell-off through midday Friday. Steep discounts were dominant in the physical market on deals for delivery over the Memorial Day break. Here’s the latest: June Nymex futures down 8.9 cents to $2.568/MMBtu at around 1:45 p.m. ET;…

May 24, 2024
Appalachia Leads Natural Gas Drilling Declines in Latest BKR Count

Appalachia Leads Natural Gas Drilling Declines in Latest BKR Count

Driven by declines in the Appalachian Basin, the U.S. natural gas rig count dropped four units to finish at 99 for the week ended Friday (May 24), according to the latest numbers from Baker Hughes Co. (BKR). Oil-directed drilling held flat week/week in the United States at 497 rigs. The combined U.S. rig count finished…

May 24, 2024
Mexico’s Electricity Frailty Displays Magnitude of Issues for the Next Government – Column

Mexico’s Electricity Frailty Displays Magnitude of Issues for the Next Government – Column

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. Mexico experienced severe disruptions to its energy supply earlier this month, highlighting the vulnerability of the country’s infrastructure. These events were not…

May 24, 2024
National Grid Plans to Sell Europe’s Largest LNG Import Terminal 

National Grid Plans to Sell Europe’s Largest LNG Import Terminal 

National Grid plc announced it would sell the Grain LNG terminal in the UK, Europe’s largest import facility, to help fund its capital investment plans.  The utility said it would invest roughly $76 billion over the next five years for its energy infrastructure network in the UK and the United States to support the energy…

May 24, 2024
West Texas Natural Gas Prices Recover as South Central Storage Surplus Narrows

West Texas Natural Gas Prices Recover as South Central Storage Surplus Narrows

As summer-like heat settles across Texas and neighboring states – and production in the region levels off – South Central natural gas storage surpluses are steadily narrowing. Inventories in the region were 21% above the five-year average as of May 17, according to the latest U.S. Energy Information Administration (EIA) data released Thursday. That was…

May 24, 2024
Great Lakes Natural Gas Pipeline Work Widens Downstream Price Spreads

Great Lakes Natural Gas Pipeline Work Widens Downstream Price Spreads

A pipeline maintenance project that began last week on one of the biggest routes for Canadian natural gas imports blew out spot price spreads to downstream Midwest markets, forcing another pipeline to ramp up flows to compensate to limit impacts. TC Energy Corp.’s Great Lakes Gas Transmission (GLGT) system started a seven-month project May 13…

May 24, 2024
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