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Daily Prices

8/30/24

Natural Gas Futures Lose Steam as Demand Drivers in Question — MidDay Market Snapshot

By Kevin Dobbs

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Published in: MidDay Price Alert Filed under:

Coming off an 11.2-cent rally the previous session, natural gas futures probed a few cents higher early Tuesday on lower production estimates. But the prompt month failed to sustain momentum as traders focused on weaker near-term demand and took profits. Cash prices also trended lower at midday.

NGI's Tenn Zone 1 100 L midday natural gas price chart

Here’s the latest:

  • September Nymex gas contract trading down 3.3 cents to $2.202/MMBtu as of 2:20 p.m. ET
  • Terminals call for nearly 13 Bcf of feed gas Tuesday, on par with recent levels, according to NGI’s U.S. LNG Export Flow Tracker
  • Natural gas production estimates show flows falling below 100 Bcf/d

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Kevin Dobbs

Kevin Dobbs joined the staff of NGI in April 2020. Prior to that, he worked as a financial reporter and editor for S&P Global Market Intelligence, covering financial companies and markets. Earlier in his career, he served as an enterprise reporter for the Des Moines Register. He has a bachelor's degree in English from South Dakota State University.