natural gas futures news

natural gas futures news

July 26th, 2018

Natural gas futures rose to the highest levels of the session on Thursday, after data showed that supplies in storage rose much less than forecast last week.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 24 billion cubic feet (bcf) in the week ended July 20, below forecasts for a gain of 36 bcf.

That compared with a build of 46 bcf in the preceding week, an increase of 17 bcf a year earlier and a five-year average rise of 46 bcf.

Total natural gas in storage currently stands at 2.273 trillion cubic feet (tcf), according to the U.S. Energy Information Administration.

That figure is 705 bcf, or around 23.6%, lower than levels at this time a year ago, and 557 bcf, or roughly 19.7%, below the five-year average for this time of year.

Front-month U.S. natural gas futures were up 1.7 cents, or around 0.6%, to $2.772 per million British thermal units (btu) by 10:33AM ET. Futures were at around $2.750 prior to the release of the supply data.

- Investing.com.

natural gas futures news

natural gas futures news

April 23rd, 2018

Natural gas futures started the week in negative territory on Monday, amid speculation the start of spring will bring warmer temperatures throughout the U.S. and cut into demand for the fuel.

Front-month U.S. natural gas futures slumped 1.9 cents, or around 0.7%, to $2.748 per million British thermal units (btu) by 9:00AM ET (1300GMT).

The commodity notched its second straight weekly gain, with futures rising about 0.2% last week, thanks to lingering winter-like weather conditions, which has delayed the official start of the storage injection season.

Despite recent gains, market experts warned that futures are likely to remain vulnerable in the near-term as below-normal temperatures in April mean less than they do in January and February.

Spring usually sees the weakest demand for natural gas in the U.S, as the absence of extreme temperatures curbs demand for heating and air conditioning.

Meanwhile, market participants looked ahead to this week’s storage data due on Thursday, which is expected to show another draw in a range between 3 and 17 billion cubic feet (bcf) for the week ended April 20.

That compares with a decline of 36 bcf in the preceding week, an increase of 74 bcf a year earlier and a five-year average rise of 60 bcf.

Total natural gas in storage currently stands at 1.299 trillion cubic feet (tcf), according to the U.S. Energy Information Administration.

That figure is 808 bcf, or around 38.3%, lower than levels at this time a year ago, and 449 bcf, or roughly 25.7%, below the five-year average for this time of year.

Record high domestic production levels have overshadowed the fact that stocks in storage are well below their seasonal averages for this time of year.

- Investing.com.

natural gas options

natural gas options

October 20th, 2015

U.S. natural gas futures extended gains from the prior session on Tuesday, as forecasts for chilly temperatures across key consumption regions of the U.S. boosted demand expectations for the fuel.

Natural gas for delivery in November on the New York Mercantile Exchange jumped 4.4 cents, or 1.8%, to trade at $2.487 per million British thermal units during U.S. morning hours.

A day earlier, natural gas futures tacked on 1.2 cents, or 0.49%, as a cold blast hit the U.S. Northeast, boosting near-term demand expectations for the heating fuel.

Updated weather forecasting models showed that a cold front will impact the northern U.S. through October 28.

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natural gas futures brokers

natural gas futures brokers

September 29th, 2014

Natural gas futures advanced to a one-month high in New York on forecasts for colder-than-normal October weather that would stoke demand for the heating fuel.

Temperatures may be below normal in parts of the central U.S. from Oct. 4 through Oct. 13, according to MDA Weather Services in Gaithersburg, Maryland. Gas stockpiles were 13 percent below the five-year average in the week ended Sept. 19, the biggest deficit for the time of year since 2005.

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natural gas futures

natural gas futures

June 9th, 2014

Natural gas futures slipped from a one-month high in New York as cooler weather in the central U.S. limited demand for the power-plant fuel.

Gas fell as much as 1.3 percent. MDA Weather Services predicted below-normal temperatures from the Midwest to Texas over the next five days, with unusually warm readings on the East and West coasts. Gas inventories gains topped the five-year average for the past seven weeks during a seasonal demand lull.

“It’s a cooler pattern emerging of very little cooling demand in the midcontinent,” said Teri Viswanath, director of commodities strategy at BNP Paribas SA in New York. “A broad swath of the U.S. is going to have very light demand this week and possibly into next week.”

Natural gas for July delivery fell 4.3 cents, or 0.9 percent, to $4.657 per million British thermal units at 10:36 a.m. on the New York Mercantile Exchange after touching $4.743, the highest intraday price since May 8. Volume for all futures traded was 33 percent below the 100-day average. Gas is up 10 percent this year.

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Natural gas traded near the highest level in a month in New York on speculation that forecasts for a blast of wintry weather in the U.S. may boost demand for the heating fuel.

Futures for January delivery climbed as much as 0.3 percent to $3.875 per million British thermal units in electronic trading on the New York Mercantile Exchange before trading at $3.847 at 9:09 a.m. London time. The December contract expired yesterday after gaining 0.8 percent to $3.818. The volume of all futures traded was about 48 percent below the 100-day average.

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natural gas options

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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