Natural gas higher after storage data

On May 14, 2015, in natural gas futures news, by Infinity Trading
natural gas futures brokers

natural gas futures brokers

May 14, 2015

Natural gas futures were higher on Thursday, after data showed that U.S. natural gas supplies rose less-than-expected last week.

On the New York Mercantile Exchange, natural gas for delivery in June was up 2.33% to $3.033 per million British thermal units. Prices were at around $2.899 prior to the release of the supply data.

In its weekly report, the Energy Information Administration said natural gas storage in the week ended May 8 rose by 111 billion cubic feet, compared to expectations for an increase of 116 bcf.

Total U.S. natural gas storage stood at 1,897 bcf the EIA said. Stocks were 752 bcf higher than last year at this time and 38 bcf below the five-year average of 1,935 bcf for this time of year.

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natural gas brokers

natural gas futures

August 19th, 2013

Futures for September delivery gained as much as 0.5 percent to $3.481 per million British thermal units in electronic trading on the New York Mercantile Exchange and were at $3.474 at 11:45 a.m. in Singapore. The contract climbed 2.8 percent, the most in a month, to settle at $3.463 yesterday.

Forecasters including MDA Weather Services in Gaithersburg, Maryland, predicted above-normal temperatures from the U.S. Northeast to the West Coast through Sept. 2.

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December 19th, 2012

Natural gas futures dropped in New York for the first time in three days as weather forecasts for late December and early January turned warmer.

Natural gas slid as much as 3.7 percent after Commodity Weather Group LLC in Bethesda, Maryland, predicted mostly normal temperatures in the eastern half of the U.S. from Dec. 29 through Jan. 2. Yesterday’s outlook was for colder-than-average weather in those regions.

“The weather forecast is becoming as volatile as the price,” said Dominick Chirichella, senior partner at the Energy Management Institute in New York. “The temperature outlook became much less supportive and the market just started selling.”

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December 19th, 2012

Gasoline futures and heating oil rose as President Barack Obama and House Republican leaders continued budget negotiations and as a stronger Brent boosted the prices of products produced with imported crude.

Futures climbed on optimism that Obama and House Speaker John Boehner will reach a deal to avert the so-called fiscal cliff, more than $600 billion in automatic tax increases and spending cuts set for January. Brent gained as much as 1.1 percent in London. German business confidence increased for a second month in December.

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November 13th, 2012

Natural gas futures rose to a one- year high in New York on speculation that U.S. inventories will drop for the first time this season as below-normal temperatures spur fuel demand.

Gas rose 4.7 percent, the most in six weeks, as a government report on Nov. 15 may show that stockpiles fell 15 billion cubic feet last week to 3.914 trillion, according to Donald Murry, an economist at C.H. Guernsey & Co. in Oklahoma City. That would be the earliest seasonal decline since 2007.

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October 17th, 2012

Natural gas futures climbed in New York for the first time in three days on speculation that government data may show a smaller-than-normal increase in stockpiles for last week.

Gas advanced as much as 1.3 percent before the Energy Department report tomorrow that may show an inventory gain of 47 billion cubic feet in the week ended Oct. 12, according to the median of 15 analyst estimates compiled by Bloomberg. The five- year average gain for the week is 71 billion.

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October 5th, 2012

Exxon Mobil Corp. (XOM) and Valero Energy Corp. (VLO) are rationing gasoline deliveries to customers in California as refinery halts cut into the state’s supplies, driving pump prices toward record highs.

Valero stopped spot sales in southern California and is allocating the rest of its deliveries to customers. Exxon is also rationing to buyers at West Coast terminals. Retail prices in the state jumped to an average $4.486 a gallon, according to data published today by AAA, the nation’s biggest motoring organization.

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June 25th, 2012

Ethanol futures increased the most since March as corn used to make the fuel rose to the highest level since November.

The biofuel gained as the most-active December corn contract surged on forecasts that dry weather will continue to the end of June for most of the Midwest, reducing yields and raising the cost of ethanol production.

About 32 percent of the domestic corn crop is under stress, and temperatures will rise as the plants begin to pollinate, Chicago-based T-Storm Weather LLC said in a report. At least 50 percent of subsoil has been rated below normal since May 31, the forecaster said.

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June 19th, 2012

Commodity Investing – Corn futures jumped, capping the biggest two-day increase in 20 months, as hot, dry weather reduced yield potential for crops in the Midwest, the largest U.S. growing region.

Parched conditions in the next three days will increase stress on about a third of the Midwest crop, Commodity Weather Group LLC said in a report.

On the Chicago Board of Trade, corn futures for December delivery surged 5.5 percent to $5.635 a bushel. In two days, the most-active contract surged 11 percent, the most since October 2010.

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June 18th, 2012

Natural gas futures prices rose Monday, bouncing back above $2.50 per million British thermal units as investors keep watch for further signs of rising gas demand after last week’s price surge.

Natural gas for July delivery rose 4.7 cents, or 1.9%, to recently trade at $2.514/MMBtu on the New York Mercantile Exchange.

Gas futures appear ready to hold in to a tight range near $2.50 as traders weigh volatile near-term weather forecasts and try to gauge whether the sharp rally last week will hold until the next set of inventory data this week.

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