Articles tagged Heat

Natural gas spot prices were lower in a week marked by declining demand expectations on the cusp of the fall shoulder season and a slower drawdown of storage surpluses that fed fresh concerns about the stubbornly high Lower 48 supply.

Blistering heat through much of the summer and limited supply flowing west from the Permian Basin kept storage injections in the Pacific region in check, helping to dramatically dwindle a once-massive surplus of natural gas.

Price spikes that plagued natural gas delivered to hubs across California and the Southwest in past summers are unlikely to repeat, even in the face of extreme heat, according to experts. 

June Nymex natural gas futures fluctuated on either side of unchanged early Tuesday and ultimately closed on the plus side as traders positioned ahead of the contract’s Wednesday expiration with fundamentals supporting.

Natural gas futures rallied anew on Monday against a backdrop of looming summer weather, lighter production and an improving storage situation.

Global natural gas prices continued to climb on Monday amid hotter weather, supply constraints and increasing competition among buyers. 

Natural gas futures lost ground Monday as production held strong and power burns eased following a weekend of regionally milder weather.

Natural gas futures struggled to find direction Monday, teetering between modest gains and losses as traders weighed robust near-term cooling demand against strong production and stout supplies in storage.

Asian LNG prices remain higher than those in Europe as weak demand, high storage inventories and mild weather on parts of the continent are keeping a lid on the cost of natural gas.

Natural gas futures eked out another gain – the fourth in a row – on Monday as robust cooling demand in Texas and surrounding states supported prices. With increased gas flowing south of the border into Mexico as well, the June Nymex gas futures contract edged up 6.2 cents to $2.791/MMBtu.