Articles tagged natural gas spot prices

Coming off a 56.0-cent sell-off to close out last week’s trading, natural gas futures on Monday shrugged off recent bearish developments and reversed course, trading in positive territory most of the day. Still, futures lost momentum late, despite seasonally stout cooling demand forecast for this week, and the October Nymex gas futures contract settled at $7.752/MMBtu, down 1.2 cents day/day. November lost seven-tenths of a cent to $7.804.

Natural gas futures on Monday advanced for a third consecutive session, propelled by festering worries about winter storage inadequacy. The October Nymex gas futures contract jumped 25.3 cents day/day and settled at $8.249/MMBtu. November rose 24.3 cents to $8.287.

Natural gas spot prices at Henry Hub will average roughly $9/MMBtu during the fourth quarter before retreating to around $6 on average in 2023 amid rising domestic production, according to the latest projections from the Energy Information Administration (EIA).

After an early dip into the red, natural gas futures swung higher Monday as weather models continued to show bursts of heat over the next couple of weeks. Volatility remained front and center, however, with big gains nearly erased by the close of the session.

Natural gas futures flew higher Monday on the back of surging global gas prices, with technical momentum working in favor of bulls looking to take out $10/MMBtu. After coming within pennies, however, that goal proved out of reach and the September Nymex gas futures contract ultimately settled at $9.680, up 34.4 cents from Friday’s close. October futures jumped 33.2 cents to $9.647.

Despite dings along the way, weekly cash prices gained ground amid lofty temperatures across much of the Lower 48 and inconsistent production levels.

Natural gas futures hovered in a narrow range early Friday before creeping lower and ultimately finishing firmly in negative territory, as traders determined the prior day’s nearly 80-cent rally was overcooked. The August Nymex gas futures contract settled at $6.034/MMBtu, down 26.3 cents day/day. September shed 29.5 cents to $5.967.

An early slide along the Nymex natural gas futures curve gave way to a technical bounce midday, ultimately boosting the July contract by 28.1 cents to a $6.501/MMBtu settlement. August futures climbed 26.5 cents to $6.546.

Natural gas futures were poised to extend their decline for a third straight day after the latest government inventory report showed a bigger-than-expected increase in storage levels for mid-April. A pop late in Thursday’s session, however, lifted the May Nymex gas futures contract to $6.957/MMBtu, up 2.0 cents day/day. June futures tacked on 3.0 cents to hit $7.096.

After a bit of hesitation, natural gas futures notched another day in the green as production declined and weather models aligned in showing a cooler-than-normal pattern that would keep hefty storage deficits intact throughout the month. The May Nymex contract settled at $6.680/MMBtu, up 3.7 cents day/day. June futures climbed 4.0 cents to $6.763.