April Chills Bring Shoulder Season Gains for Natural Gas Forward Prices
April chills brought higher futures prices and modest shoulder season gains for natural gas forwards throughout the Lower 48 during the trading week ending April 14, according to
For the April 8-14 period, fixed prompt-month prices at Henry Hub added 10 cents to average $2.619/MMBtu. Stronger prices at the national benchmark, which paralleled gains in Nymex futures, set the pace for fixed price increases of around a dime at numerous hubs throughout the Lower 48 during the week,
Forward Look data show.
In the Midwest, Chicago Citygate May fixed prices picked up 11 cents to trade at $2.540, while in the Northeast, Algonquin Citygate added 13 cents to reach $2.148. In the Rockies and Northwest, Cheyenne Hub May fixed prices tacked on 13 cents to trade at $2.423, while Northwest Sumas added 13 cents to reach $2.458.
Annual Natural Gas Marketer Ranking Reflects Rough Sailing Imposed by Pandemic; Outlook Brightens
In a year dominated by the coronavirus pandemic and upended at times by an historic hurricane season, leading natural gas marketers posted lighter sales volumes for full-year 2020, according to NGI’s Top North American Natural Gas Marketers ranking.
It marked the second consecutive year of lower overall levels. A global supply glut and weak prices weighed on volumes in 2019. Last year was defined largely by demand destruction imposed by virus outbreaks and necessitated production pullbacks in the spring.
A slew of storms that pushed into the Gulf Coast during last year’s record hurricane activity further interrupted U.S. natural gas production on several occasions over the summer and early fall. Hurricanes and tropical storms caused temporary but notable declines in output that delayed recovery from the curtailments producers put in place in response to the pandemic.
Natural Gas Futures Forge Ahead, Lifted by Export Demand and Favorable Weather naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
May Natural Gas Futures Extend Rally as LNG Holds Strong, Cash Prices Climb
Natural gas futures advanced again Tuesday as robust liquefied natural gas (LNG) levels fueled demand optimism and a dose of chilly weather bolstered cash prices.
The May Nymex contract climbed 5.8 cents day/day and settled at $2.619/MMBtu – the fifth straight day of gains. June rose 5.3 cents to $2.696.
NGI’s Spot Gas National Avg. advanced 8.5 cents to $2.465.
LNG feed gas volumes hovered close to 2021 highs and well above 11 Bcf on Tuesday, NGI data showed, reflecting ongoing demand from both Asia and Europe for U.S. exports of the super-chilled fuel. With stocks low in Europe and the summer cooling season on the horizon, analysts increasingly expect LNG to remain a source of strength throughout the year.
Despite LNG Staying Power, Natural Gas Futures Extend Downward Slide Following Bearish EIA Inventory Report naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.