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natural gas futures

October 15th, 2013

Natural gas futures fluctuated in New York amid predictions for colder-than-normal weather that would spur heating-fuel consumption.

Gas moved between gains and losses as MDA Weather Services in Gaithersburg, Maryland, said temperatures may be below average in the central U.S. from Oct. 20 through Oct. 29. The low in Chicago on Oct. 24 may be 32 degrees Fahrenheit (0 Celsius), 11 less than usual, according to AccuWeather Inc. in State College, Pennsylvania.

“Even if we have a cold front, we’ll have plenty of supply,” said Phil Flynn, a senior market analyst at Price Futures Group in Chicago. “The market is a little bit overextended and traders have been overplaying the cold weather.”

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natural gas options

natural gas futures

September 10th, 2013

Natural gas futures fluctuated in New York on speculation that government data will show a larger-than-normal increase in stockpiles of the power-plant fuel.

Gas rose as much as 0.7 percent and slipped 1.2 percent. An Energy Information Administration report scheduled for release on Sept. 12 may show inventories grew by 64 billion cubic feet in the week ended Sept. 6, according to the median of three analyst estimates compiled by Bloomberg. The five-year average gain for the week is 62 billion.

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natural gas options

Natural gas futures

September 3rd, 2013

Natural gas futures climbed to a five-week high in New York on concern that storms would disrupt supplies amid hot weather that may stoke demand for the power-plant fuel.

Gas gained as much as 2.8 percent after the National Hurricane Center said low pressure systems were producing showers and thunderstorms over the Lesser Antilles and Mexico’s Yucatan Peninsula. MDA Weather Services in Gaithersburg, Maryland, predicted above-normal temperatures in the central U.S. through Sept. 17.

“These storms are definitely providing a little extra support for the market because there’s concern that they could move into the Gulf,” said Phil Flynn, a senior market analyst at Price Futures Group in Chicago. “It’s pretty warm in the Midwest and the hot temperatures are still boosting cooling demand.”

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Natural Gas Climbs for Second Day

On May 20, 2013, in natural gas futures news, by Infinity Trading
natural gas options

natural gas futures climb

May 20th, 2013

Natural gas futures advanced for a second day in New York on forecasts for above-normal temperatures that would boost demand for the power-plant fuel.

Gas gained as much as 2.6 percent after Commodity Weather Group LLC in Bethesda, Maryland, predicted warmer-than-average weather in the Northeast and Great Lakes region through May 24. The high in New York on May 22 may be 82 degrees Fahrenheit (28 Celsius), 10 more than usual, according to AccuWeather Inc. in State College, Pennsylvania.

“The weather continues to confound the bears,” said Phil Flynn, a senior market analyst for Price Futures Group in Chicago. “Temperatures have gone from colder than normal to warmer than normal. There’s been an incredible amount of volatility with the weather situation.”

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March 19th, 2013

Natural gas futures climbed to an 18-month high in New York as an unusually cold start to spring in the U.S. may bolster demand for the heating fuel.

Gas rose 2.2 percent after a midday update to government forecasting models showed colder weather for the Midwest and East from March 29 through April 2, said Jim Southard, a meteorologist with Frontier Weather Inc. in Tulsa, Oklahoma. Earlier predictions showed seasonal to slightly below-normal temperatures. Prices have jumped 18 percent this year as waves of frigid weather helped reduce a supply glut.

“There has been a lot of bullish money thrown at this market since the end of February,” said Stephen Schork, president of Schork Group Inc., a consulting group in Villanova, Pennsylvania. “We had a nice rally. It’s cold now but in a couple of weeks we’ll have less weather-related demand.”

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March 7th, 2013

Natural gas futures rose to a six- week high in New York after a government report showed that U.S. inventories fell by more than forecast last week as cold weather boosted demand.

Natural gas rose as much as 3.8 percent after the Energy Information Administration said stockpiles fell 146 billion cubic feet in the week ended March 1 to 2.083 trillion. Analyst estimates compiled by Bloomberg showed a drop of 132 billion. A cold snap last week brought below-normal temperatures to most of the lower 48 states, according to Commodity Weather Group LLC.

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December 28th, 2012

Natural gas futures gained in New York for the second time in three days on speculation that a cold start to January will drive up demand for the heating fuel.

Natural gas rose as much as 2.2 percent as forecasters including Commodity Weather Group LLC predicted below-normal temperatures for most of the lower 48 states over the next six to 10 days. An Energy Department report today may show supplies declined by 72 billion cubic feet last week, based on the median of 20 analyst estimates compiled by Bloomberg. The five-year average drop for the period is 140 billion, department data show.

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December 13th, 2012

Natural gas futures fell to the lowest price in almost 11 weeks after a government report showed that U.S. stockpiles increased unexpectedly as mild weather cut demand for heating fuels.

Natural gas slid 1 percent after the Energy Department said inventories rose 2 billion cubic feet in the week ended Dec. 7 to 3.806 trillion cubic feet. Analyst estimates compiled by Bloomberg showed an expected drop of 3 billion. It was the latest seasonal supply gain since the week ended Dec. 30, 2005, according to department data compiled by Bloomberg.

“The storage injection was reflective of the very, very warm temperatures,” said Kyle Cooper, director of research with IAF Advisors in Houston. “If Mother Nature continues to deal bearish blows, the market is going to head lower.”

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October 25th, 2012

Natural gas futures declined for a second day after a government report showed U.S. stockpiles climbed by more than the five-year average last week.

Natural gas dropped as much as 2.6 percent after the Energy Department said inventories expanded by 67 billion cubic feet in the week ended Oct. 19 to 3.843 trillion cubic feet. Analyst estimates compiled by Bloomberg showed a gain of 67 billion. A survey of Bloomberg users predicted an increase of 66 billion. Supplies rose to a record 3.852 trillion cubic feet last year.

“The short story is that we’re not running out of gas,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York. “We’re within 9 billion cubic feet of an all-time high storage level.”

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October 10th, 2012

Natural gas futures gained for a third day in New York amid forecasts of below-normal temperatures that may reduce a glut of the fuel in storage.

Gas climbed 0.2 percent. The weather may be cooler than normal in the Northeast through Oct. 14, according to MDA EarthSat Weather. An Energy Department report tomorrow may show that stockpiles rose 78 billion cubic feet last week, below the five-year average increase of 84 billion, based on the median of 20 analyst estimates compiled by Bloomberg.

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