Natural Gas Market Updates

The turkey gravy was heating up the market today as it dropped $0.16 USD/MMBtu for the prompt month at the time of writing. Traders are reacting to the strong storage injection from yesterday with no end in sight for warm weather and large storage inventory. The balance of the year is down on average $0.09…

The early morning rally by traders was halted by a bearish storage report. The NYMEX reached as high as $3.39 USD/MMBtu, before reversing to settle at $3.27 USD/MMBtu, representing a $0.06 USD/MMBtu or 2% decrease from yesterday’s settlement. The EIA injection volume of 80 bcf was higher than the analyst polled value of 77 bcf.…

Natural gas markets completely reversed as we saw the NYMEX fall $0.17 USD/MMBtu or 4.8% to settle at $3.33 USD/MMBtu. This drop wiped out the significant gains we had seen over the first two days of the week. Market volatility is expected to remain in the coming weeks as traders await the first signs of…

Traders pushed the NYMEX front month up $0.14 USD/MMBtu or 4.5% to settle at $3.50 USD/MMBtu. This is the highest front-month settlement since July 15th. The upward movement was supported by reduced production volumes (4-month low today) and initial EIA inventory predictions indicating a lower-than-average storage build this week. Lower LNG flows and warmer-than-normal forecasts…

Natural gas markets began the day bullish, with the NYMEX front-month contract rallying $0.16 USD/MMBtu, or 4%, in the early morning. As the day progressed, the market slid down to $3.36 USD/MMBtu, only posting a $0.03 USD/MMBtu or 1% increase. Although the Nov-25 contract (front month) was up, the December to February contracts all saw…

Although it was the end of the week, traders were very active, creating another day of high volatility. The NYMEX front-month contract started down -$0.10 USD/MMBtu, briefly rose to gains of $0.03 USD/MMBtu before collapsing again in the afternoon to settle down $0.12 USD/MMBtu (-3%), at $3.32 USD/MMBtu. Propelled primarily by Wednesday’s gains, the market…

Today was another explosive day for natural gas markets. Morning sentiment saw the NYMEX front month drop $0.08 USD/MMBtu after yesterday’s rally. However, momentum changed rapidly following the release of EIA injection volumes well below expectations. The November contract rallied up $0.22 USD/MMBtu from the earlier low point to reach as high as $3.59 USD/MMBtu.…

US natural gas markets soared up $0.17 USD/MMBtu or 5% to settle at $3.48 USD/MMBtu. This is the highest front month settlement for the NYMEX since July 18th. The move appears to be largely momentum driven but was supported by colder than normal forecasts in the second week of October for Western North America. There…

The NYMEX front month continued its upward climb today, with a $0.06 USD/MMBtu, or 2%, increase to reach $3.33 USD/MMBtu. Weather forecasts in the US shifted slightly colder this morning, supporting natural gas bulls. Previous forecasts were trending above normal (indicating less demand) but have since shifted to the 10-year average. The increased cold is…

Based on morning activity, the market appeared to be in for a quiet day as it hovered around neutral. This changed by the afternoon after we saw bullish momentum push the market up $0.06 USD/MMBtu to settle at $3.27 USD/MMBtu. Fundamental factors continue to lean bearish with milder forecasts in the US, increased production volumes,…

As the week ends, we bid farewell to the Oct-25 NYMEX contract. After positions were liquidated on this final day of trading, the Oct-25 contract settlement price was $2.87 USD/MMBTU, $0.05 USD down from yesterday. Turning our gaze to the November contract, we saw an elastic day with moves into the positives and negatives before…

The NYMEX experienced a sustained rally to as high as $2.97 USD/MMBtu in the morning as traders liquidated their options before settlement. Following the release of EIA storage volumes, trading momentum reversed with the market falling slightly to $2.92 USD/MMBtu, up $0.06USD/MMBtu or 2% from yesterday’s settlement. EIA’s injection volume of 75 Bcf was in…