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September 5th, 2012
Natural-gas futures fell 2.1% as forecasters called for cooler temperatures next week, threatening demand for gas-powered air conditioning.
The market is pulling back from Tuesday’s hot-weather-driven rally, as forecasters project that this week’s above-normal temperatures won’t last, said Pax Saunders, an analyst for Gelber & Associates.
The East Coast will be cooler than previously forecast in the next six to 10 days, private forecaster MDA EarthSat said.
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August 29th, 2012
Natural-gas futures rallied Wednesday on news that Hurricane Isaac has prompted more production to go off-line and suspicion that flooding from the storm could damage other infrastructure.
The front-month natural-gas contract for September, which expires Wednesday, settled at $2.634/MMBtu, up 2 cents, or 0.8%. The October natural-gas contract settled at $2.685/MMBtu, up 5.2 cents, or nearly 2%.
The Bureau of Safety and Environmental Enforcement, which regulates offshore petroleum development, said Wednesday that petroleum companies had shut 1.3 million barrels of oil per day, or nearly 95%, and 3.2 billion cubic feet of natural gas, or nearly 72%. That is up from the 93% of the Gulf’s oil and 67% of its gas that were off-line as of Tuesday.
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August 24th, 2012
Natural gas futures reversed course Friday, turning lower as investors weighed the threat of this year’s first tropical storm projected to reach the Gulf of Mexico.
Natural gas futures for September delivery was recently trading lower by 4.3 cents, or 1.5%, to recently trade at $2.759 a million British thermal units on the New York Mercantile Exchange, after trading as high as $2.877/MMBtu earlier in the session.
Tropical Storm Isaac is on track to cross Cuba and head into the Gulf of Mexico by Monday, according to forecasts from the National Hurricane Center, strengthening into a hurricane by early Tuesday morning as it heads northwest toward Alabama and the Florida panhandle.
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August 16th, 2012
Natural gas futures prices were modestly higher Thursday morning ahead of a weekly government report on U.S. gas inventories.
Natural gas for September delivery rose 2.1 cents, or 0.7%, to recently trade at $2.768 a million British thermal units on the New York Mercantile Exchange.
The increase comes as the market looks ahead to Thursday’s report by the U.S. Energy Information Administration on how much natural gas was added in storage last week.
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August 10th ,2012
Natural gas futures tumbled to a one-month low Friday as forecasts showed cooler temperatures ahead that may lower gas usage by power plants.
Natural gas futures for September delivery settled 17.5 cents, or 5.9%, lower at $2.77 a million British thermal units on the New York Mercantile Exchange, after falling as low as $2.76/MMbtu earlier in the session.
Forecaster MDA EarthSat predicted Friday a “stronger shot of cool air” would descend on the Midwest over the next five days, leading to cooler-than-normal temperatures as the end of August approaches.
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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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May 3rd, 2012
Natural gas futures rose Thursday as U.S. gas inventories posted a smaller build than normal for this time of year, slowing the rapid rise in domestic gas supplies.
Natural gas for June delivery rose 9.3 cents, or 4.1%, to recently trade at $2.347 a million British thermal units on the New York Mercantile Exchange.
U.S. stockpiles rose by 28 billion cubic feet in the week ending April 27, raising total U.S. inventories to 2.576 trillion cubic feet, according to weekly data from the U.S. Energy Information Administration.
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April 30th, 2012
Natural gas futures surged higher Monday, adding to a week-long rally on hopes that prices near decade lows have prodded U.S. gas producers to curtail ouput.
Natural gas futures for June delivery rose 9.9 cents, or 4.5%, to $2.285 a million British thermal unit on the New York Mercantile Exchange after a government report showed February U.S gas production posted the largest drop in a year.
The output decline, which comes after January production hit a record high, offered some ammunition to bullish gas investors that believe prices may have hit a bottom in mid-April when futures settled at $1.907/MMBtu.
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February 23rd, 2012
Natural Gas Futures – Traders in U.K. natural gas are grappling with the most changeable prices in more than two years as investors weigh Britain’s growing dependence on imports and a waning ability to respond to surges in demand.
Natural gas price swings in day-ahead gas, as measured by 30-day historical volatility, more than tripled to 156 percent in the two weeks to Feb. 13, the highest since October 2009, broker prices compiled by Bloomberg show. A cold snap strained the U.K. storage network this month and exposed its reliance on liquefied natural gas from the Middle East, according to Sabine Schels, a commodity strategist at Bank of America Corp.
Rising volatility signals a risk to utilities and power generators, including Centrica Plc (CNA) and Electricite de France SA, as they seek to ensure supplies at stable prices amid dwindling North Sea reserves and competing demand for the fuel from Asia. LNG imports to Japan rose 12 percent last year, while shipments to the U.K. dropped 20 percent in the final quarter of 2011.
“There is a misperception that the U.K. will continue to receive high LNG imports,” Schels said in a Feb. 21 interview from London. “We’ve seen them decline and we expect them to continue to go down, because demand in Asia is so strong.” Next-winter gas prices need to rise in order to attract enough LNG to meet Britain’s needs, she said.
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