Natural Gas Market Updates

The market continues to catch a break, the NYMEX settling down a few cents since yesterday. The July front month contract finished the day at $3.40 US/mm. With the July contract’s last day of trading coming up, looks like this will be about where the contract settles. The blast of heat along Eastern Canada and…

Today feels as though it is hotter than hot in the city. We are breaking heat records across the Eastern seaboard with temperatures well above normal. The cash markets continue to react to the heat, as gas demand for electricity is at an all time high for the month. On the other hand forward natural…

The heat is back this week with record hot temperatures. The dawn cash prices are up 30% as demand for spot natural gas is becoming a premium for power generation in the North East US and Canada. Storage injections are slightly above the five year average and below last years levels at this time. We…

Happy Summer Solstice! It’s been a pretty crazy week for NYMEX natural gas. The July front month closed at $3.83 US/mm, down about 16 cents since yesterday’s close, but traded to a high of $4.14 US/mm earlier in the day. It’s gotten hot out. Temperatures are currently about normal in the US and Canada, but…

The rally continues, NYMEX futures gained about ten cents over the remaining summer months since yesterday’s settle, the July front month closing at $3.85 US/mm. Ultimately, tensions in the Middle East have traders on edge with regards to where the crude market will be (especially with energy infrastructure in the crosshairs). The concern is that…

Welcome back. Hard to believe we are halfway through June, and that summer is only four days away… Looks like some cooling demand will soon be ramping up in the East, NOAA’s Temperature Outlook came in today with a strong likelihood for the entire Eastern half of the USA to be warmer than normal. Remember…

Happy Friday the 13th to those who celebrate! Going into the weekend, Canadian temperatures are currently below normal, but set to increase to reach a peak mid-next week, then fluctuating around normal. NOAA’s temperature outlook for the next week or so is also looking warm all over, especially in the East. The NYMEX saw some…

Happy storage day! The EIA reported an injection of +109 Bcf for last week, right in line with the expected build of 108 Bcf. This puts the lower 28’s inventories at 2,707 Bcf, compared to the 5-year average of 2,568. Still slightly ahead of the average, but not an enormous gap. The NYMEX was high…

Today marks the third straight day of decline in the NYMEX, the July front month contract settled at $3.50 US/mm, down two cents since yesterday’s settle, although it did push lower throughout the day. Again, looks like the NYMEX trading is somewhat range-bound until something shakes it up, most likely when demand increases. Two possibilities…

Given how mild temperatures have been across North America, it’s hard to believe that there’s just a bit over a week left before summer begins. With the slow start to the cooling season, Utilities must be working hard to keep the big injections coming, at least until other demand for gas kicks in. Production is…

A dip in NYMEX gas futures prices to start the week, the July front month dropped about 15 cents to settle at $3.63 US/mm. On the weather front, temperatures in the US are expected to be about normal, if not somewhat higher in the South. Overall, not a crazy start to the cooling season, cooling…

To finish off the week, NYMEX gas futures remained pretty steady until rallying later in the day, the July front month currently trading $3.80 US/mm. There hasn’t been much fundamental news circulating and the volume traded is relatively small, so this move is likely futures traders pushing the market around before the weekend. US temperatures…