The markets must be having a catch up day rising on average $0.51USD/Mmbtu through the curve to October 2023. The main reasons are early indications of a colder than normal winter across North America. With the lack of storage inventory combined with increased international demand the markets are reacting accordingly. In one of our previous …
Not much action over the weekend. Markets were choppy all day finishing within the opening range. Weather and storage remain the trends to observe over the next two weeks prior to the close of the September 2022 contract. Enjoy the sun! (RS)
Natural gas prices came down a tad to round off the week with the prompt month September NYMEX futures contract settling US$0.106/MMBtu down from yesterday at $8.768. With the recent Freeport and Gulf of Mexico news, the bulls have been able to take the reins once again as we look to round out the summer …
Markets were up all day today finishing up 4.7 percent through until March 2024. The storage injections was lighter than expected mainly due to the heat that continue to blanket North America. We will need some heat relief and strong production over the next 8 weeks to catch up with the projected winter demand. The …
Happy middle of the week, markets were more exciting today. A lot of speculation that the market is overly short given the move upwards by all contracts. The September prompt month NYMEX contract settled up US$0.369/MMBtu at $8.202 to return it to levels seen post-storage report last Thursday. Prices rose an average $0.199 out to …
Another quiet day in natural gas. It must be Tuesday and the markets rallied once again up more than 3% on the day right through into 2023. It appears Mondays and Fridays markets sell off then rebound the balance of the week. Markets continue to monitor heat demand and keeping an eye on the first …
Another quiet day in natural gas. Hot weather persists all week long although the Natural Gas markets were not reacting at this point down 5%. Trading is relatively light and will perhaps remain choppy for the balance of the month while we await more data on the winter. Early estimates are declaring a colder than …
Another quiet day in natural gas. The September prompt month contract traded between a range of US$7.898/MMBtu and $8.248 for the day, ultimately settling down $0.058 at $8.064. As per usual, we saw a climb upwards before noon followed by a reversal afterwards, signalling some day trading action as we wrap up the week. Hot …
Natural gas traded sideways to lower today, finishing down by 1.67%. Details of the Freeport LNG restart remained somewhat murky, materializing as more broken telephone chatter than fact-based information. Natural gas traders seemed more focused on storage data today which happened to surprise to the upside with a reported injection of 41 bcf compared to …
Natural gas reversed course from the previous day, recapturing all of yesterdays losses, finishing up by just over 7%, and finishing above the $8 mark with conviction. Early morning trade was quiet and trendy, as the bearishness of a cooler weather forecast faded. Late in the day, Freeport LNG advised the market that they would …