Articles tagged East

Natural gas futures rallied five out of six sessions leading into Wednesday in large part because of expectations for a paltry storage print this week.

Supplies of natural gas in storage are stout everywhere, but East region inventories are closer to historical norms than any other section of the Lower 48.

After another run toward $4.200/MMBtu last week, natural gas futures took a nosedive on Monday as long-range weather forecasts continued to cool while liquefied natural gas (LNG) demand remained well off recent highs. The September Nymex gas futures contract settled at $4.060, off 8.0 cents from Friday’s close. October dropped 7.9 cents to $4.075.

Sunoco Pipeline LP has reached a settlement with Pennsylvania regulators to address corrosion control problems on Mariner East (ME) 1 that would require the company to conduct a rare “remaining life study” of the system.

September natural gas futures were set to open Wednesday about 2.0 cents lower at around $2.939 as weather guidance overnight continued to advertise cooler medium-range trends in the forecast for the East.

June natural gas is set to open 5 cents lower Tuesday morning at $3.28 as traders factor in moderating temperatures and a short-term loss of demand. Overnight oil markets retreated.

June natural gas is expected to open 6 cents lower Monday morning at $3.21 as weather forecasts offer little in the way of substantive change and risk managers look for a spot to initiate short hedges. Overnight oil markets were narrowly mixed.

May natural gas is set to open 2 cents lower Tuesday morning as weather forecasts turn warmer and traders sense a weakening market. Overnight oil markets moved little.

March natural gas is set to open 3 cents higher Wednesday morning at $2.59 as traders reconcile a modest loss in heating demand with deeply oversold market conditions. Overnight oil markets fell.

March natural gas is expected to open 10 cents lower Monday morning at $3.26 as near-term weather forecasts could only come up with transient cold patterns affecting major eastern energy markets. Overnight oil markets weakened.