Natural Gas Futures Deepen Declines as Forecasts Cool Down Further — MidDay Market Snapshot
As weather forecasts trimmed more demand from the mid-August outlook, natural gas futures continued to move lower through midday trading Wednesday.
As weather forecasts trimmed more demand from the mid-August outlook, natural gas futures continued to move lower through midday trading Wednesday.
September natural gas futures were trading higher through midday Tuesday, supported by soaring summer temperatures and Chesapeake Energy Corp. holding the line on production cuts.
Natural gas futures traders on Tuesday took profits and snapped a winning streak after the prompt month had rallied nearly 20 cents over the three prior sessions.
With production strong and supplies in storage stout, a mixed demand outlook was not enough to further propel natural gas futures. Global information technology outages also created upheaval as trading commenced on Friday.
Natural gas markets traded on either side of even through midday Friday as traders weighed vying potential bullish and bearish catalysts.
The fairytale for the natural gas market is likely going to be a 2025 story as robust production and choppy demand continued to weigh down forward prices during the July 11-17 trading period, according to NGI’s Forward Look.
NO. 1: Feed gas nominations at Freeport LNG continued rising on Thursday along with power supply as the facility slowly ramps back up after it was shut down more than a week ago ahead of former Hurricane Beryl’s landfall.
Natural gas markets were trading sharply lower through midday trading Wednesday amid signs of capitulation by bulls. Physical prices, meanwhile, were lower for the eastern half of the country ahead of a stretch of cooler weather.
Natural gas futures bounced off seasonal lows on Tuesday, advancing for only the third time this month amid lighter production readings, bullish storage expectations and signs of new activity at a key export facility following damage caused by former Hurricane Beryl.
Freeport LNG Development LP had nominated more feed gas Tuesday in an indication that the plant is ramping up a day after a spokesperson said the facility would return to service in phases after it was damaged last week by former Hurricane Beryl.