Natural Gas Market Updates

Happy Monday What looked at first to be a boring day turnout out to be a big rally. Today is expiry day for the NYMEX May contract and June is the front month.  May expired at $3.182 US/mm, up 24.5 cents. The June contract was bouncing around a bit today: opened at $3.14us/mm overnight, started…

Happy Friday A quiet day, which was a nice change from the recent volatility.  The NYMEX MAY front month was down 11% for the week.  May will expire on Monday and the June contract will become the front month. June looked like it wanted to rally early this morning but then settled down to unchanged on…

Happy Storage Day The EIA storage report for the week ending April 18th showed a net injection of +88bcf as compared to an average estimate of +64 Bcf.  The highest estimate I saw was +81 so this is a solid beat.  Utilities are not waiting to shove gas into storage.  The average injection for this week…

We are almost through April and approaching May. Not much activity in the market today, NYMEX prices drifted around some but settled only a cent or two up from where it opened. The May front month settled at $3.022 US/mm. The combination of tariff anxiety and warming weather resulted in some pretty significant moves in…

Temperatures keep warming up. NOAA’s temperature outlook is showing a high likelihood of above normal temperatures in late April, and lately the ECMEN forecast keeps turning warmer each day. The US is nearly at “perfect temperatures” where heating and cooling demand will be nearly zero. As such, be ready for Utilities to begin putting gas…

Another big sell-off in the NYMEX to start the week. The May front month contract fell 21 cents to settle at $3.03 US/mm. Temperatures over the weekend were in-line with the forecast, no surprises there. The rest of April is set to be either at or above the 10 year average, and the forecast is…

A little rally in the NYMEX to finish off the week. As of noon, the May front month is up 3 cents to $3.29 US/mm, and the rest of the summer is up about 5 cents. Although the storage report came in smaller than expected (an injection of +16 Bcf versus the anticipated +22 Bcf)…

According to the current forecasts, today is supposed to the be chilliest day of the rest of April. The rest of the month should jump up back to normal or above. NOAA’s 6-10 Day Outlook is showing a lot of orange and red. The big news today comes out of Alberta, where apparently an incident…

We made it halfway through April. NYMEX prices floated around today, at one point in the morning reaching $3.21 US/mm in the front month, a price last seen in early February. Last trade $3.32 US/mm. Maintenance season continues. Production is up since last week, but still isn’t back to full capacity. LNG feed gas demand,…

Welcome back! After the slight bump up on Friday, natural gas NYMEX futures inched higher this morning, then continued last week’s sell off. The May front month contract is down 20 cents to settle at $3.32 US/mm. On the weather front, Canadian temperature forecasts are a bit warmer than earlier predictions. Temperatures are currently normal…

Finally, a boring Friday to finish off a wild week. The NYMEX did move around, but by the end of the day the settle was only up a couple cents from yesterday, basically unchanged. The May Front Month Contract settled at $3.54 US/mm. The equities markets had some breathing room too, S&P 500 and Nasdaq…

And the NYMEX plunges right back down. It seems like yesterday’s rally may have just been a temporary pop in the markets, but one thing is clear: traders are anxious and very reactive. Like we’ve said before, it may take a while for the chaos to settle and to see the market’s true reaction, and…