Articles tagged henry hub

Global natural gas prices continued to trade sideways on Monday as ample supplies were available and forecasts were largely unchanged.

The latest reported storage build matched most expectations, but provided no definitive directional support as natural gas futures vacillated between modest losses and gains in midday trading on Friday.

An increasing number of construction-related issues at major LNG projects this year has kept a demand-hungry natural gas market wary of delays, but analysts say price and production forecasts remain mostly intact – so far.

Natural gas futures fell for the fifth time in six sessions on Thursday, as traders looked past sweltering heat over large portions of the Lower 48 and fixated on stout supplies and tropical systems in the Gulf of Mexico (GOM).

Natural gas futures forged ahead for the first time in five sessions on Tuesday as traders shifted their focus from stout supplies to a surge in heat that canvassed large swaths of the Lower 48 and galvanized air conditioning use.

Technical indicators suggest more losses for natural gas in the immediate term, while the futures contract has reached a crucial point in its longer-term search for direction.

The market in early trading Friday appeared to be focused on the bearish leanings from revisions in the latest storage data and revised weather forecasts, including a cooler change in the second half of June, dragging prompt-month natural gas futures lower.

Natural gas futures fell for a second day Thursday as Lower 48 gas production regained the 100 Bcf/d level. Bears seized on upward supply data revisions in an otherwise in-line government storage report.

After the latest weekly storage injection overshot estimates and wiped out earlier gains, July natural gas futures were trading modestly higher through midday Thursday.

With the market keying in on a hotter outlook heading into the second half of June, and with a surplus-trimming weekly government inventory report expected, natural gas futures rallied in early trading Thursday.