Updated Aug 30, 2024
8/30/24
Senior Editor, Markets
Charleston, SC
Natural gas cash prices fluctuated early in the past week amid a mix of weather and pipeline maintenance, then tumbled by week’s end following a crumbling futures contract triggered by a pushed-back timing for Golden Pass LNG exports.
January Nymex natural gas futures ended a choppy Friday regular trading session slightly lower, off the prior day’s $2.585/MMBtu settlement.
Nymex January natural gas futures ended a seesaw Thursday trading session modestly higher at $2.585/MMBtu. Futuresgarnered little fresh directional support in the withdrawal from natural gas inventories, which was larger than most expectations.
Nymex January natural gas futures ended a seesaw Thursday trading session modestly higher at $2.585/MMBtu. Futures garnered little fresh directional support in the withdrawal from natural gas inventories, which was larger than most expectations.
The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 117 Bcf of natural gas from storage for the week ended Dec. 1. The draw proved steeper than most expectations but within wider ranges.
The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 117 Bcf of natural gas from storage for the week ended Dec. 1. The draw proved steeper than most expectations but within wider ranges.
Natural gas futures tanked at midmorning Wednesday after news of the delayed completion of a major LNG export facility accelerated earlier losses driven by healthy production and lackluster weather-related demand.
Nymex January natural gas futures settled Tuesday up 1.6 cents at $2.710/MMBtu in a day of profit-taking following the prior day’s 12.0-cent rout on the back of weak fundamental support.
Nymex January natural gas futures settled Tuesday up 1.6 cents at $2.710/MMBtu in a day of profit-taking following the prior day’s 12.0-cent rout on the back of weak fundamental support.
Updated weather forecasts pointed to ongoing mild conditions that would generate a lack of heating demand through the first half of December. The outlook drove January natural gas futures another leg lower, even as the market eyes what could be the first triple-digit withdrawal from inventories of the season in data due out Thursday.