Articles tagged PG&E citygate

With summer heat falling short of record forecasts and natural gas storage levels still well above historical levels, gas forwards slipped at the front of the curve during the June 20-26 trading period, according to NGI’s Forward Look.

July baseload natural gas prices for Canadian hubs weakened further during the final day of bidweek trading on Wednesday, while Lower 48 hubs maintained an overall upward trajectory from June, according to NGI’s Bidweek Alert.

Natural gas futures on Wednesday jumped on late-June forecasts turning hotter as bulls and bears traded control of market direction for a fourth session.

Baseload natural gas prices held onto gains in southern and western portions of the country on the final day of June bidweek trading Wednesday, while abundant supply and a slow start to summer heat kept most prices in other areas under pressure.

As California utilities prepare their systems for upcoming summer demand, hydro-electric generation and other renewable resources remain important tools in the state’s energy resource toolbox. However, natural gas is crucial to the stabilization of the power grid, particularly during extreme events, according to state regulators.

Natural gas futures and cash prices slumped Wednesday as easing weather-driven demand expectations cooled a market leaning on late-summer heat to whittle away at a healthy supply cushion.

Natural gas futures found fresh footing in positive territory Wednesday, marking the first gain of 2023, amid estimates for a massive storage withdrawal report.