Natural Gas Forwards Plummet as Production Seen Returning
Natural Gas Intelligence
by Jeremiah Shelor
2w ago
Regional natural gas forwards sold off heavily during the May 23-29 trading period as the unofficial start of summer — and the ramp up in prices during the month of May — brought a shift in the production outlook. June fixed prices at benchmark at Henry Hub tumbled 34.4 cents for the period to finish at $2.501/MMBtu, paralleling the sell-off in Nymex futures over the same time frame, according to NGI’s Forward Look. Most other Lower 48 hubs followed the national benchmark lower, with fixed price discounts across the balance of 2024 widespread during the period, Forward Look data show. EQT Brin ..read more
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Natural Gas Forwards Rally Further Amid Summer Optimism; Southeast Premiums Grow
Natural Gas Intelligence
by Jeremiah Shelor
3w ago
Regional natural gas forwards continued to soar during the May 16-22 trading period in parallel to the recent bullish momentum lifting summer Nymex futures to new heights, data from NGI’s Forward Look show. Fixed prices at Henry Hub rallied 42.3 cents week/week to finish at $2.845/MMBtu for June delivery. Gains at the benchmark were strongest toward the front of the curve. January 2025 prices at Henry rose 20.9 cents for the period to $4.037, Forward Look data show. Fixed price gains across the curve were the norm for much of the Lower 48 during the May 16-22 period, with increases especially ..read more
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Natural Gas Forwards Rally; Southern Heat Spurs Regional Buying Pressure 
Natural Gas Intelligence
by Jeremiah Shelor
1M ago
Natural gas forwards rallied during the May 9-15 trading period as the market keyed in on the upside potential of summer power burns. Front month fixed prices at Henry Hub climbed 22.8 cents to finish the period at $2.422/MMBtu, Forward Look data show.  Interestingly, near-month basis differentials weakened at numerous other Lower 48 trading points during the period as they failed to keep pace with the gains at Henry Hub.  [Inside the Political Firestorm: NGI sits down with Neil Chatterjee, a former FERC chairman and commissioner, to discuss the impacts of President Biden’s LNG pause ..read more
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Natural Gas Forwards Slide as Pipe Maintenance Impacts West Texas Outlook
Natural Gas Intelligence
by Jeremiah Shelor
1M ago
Amid continued downward pressure from excess storage inventories, and with cooling demand yet to ramp up in earnest, regional natural gas forwards drifted lower during the April 25-May 1 trading period, according to NGI’s Forward Look. June fixed prices at Henry Hub exited the period at $1.939/MMBtu, down 4.6 cents week/week. In line with the national benchmark, near-month discounts were the norm across the Lower 48. SoCal Summer Premiums Decline The April 25-May 1 period saw summer premiums come down in Southern California as traders tried to get a read on fair value for peak cooling months ..read more
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Natural Gas Forwards Slide Overall as West Texas Outlook Brightens for Bulls
Natural Gas Intelligence
by Jeremiah Shelor
1M ago
With excess storage inventories continuing to hang over the market through the shoulder season, natural gas forwards declined notably at the front of the curve for most regions during the April 18-24 trading period, data from NGI’s Forward Look show. May fixed prices at benchmark Henry Hub exited the period at $1.653/MMBtu, down 6.1 cents week/week. Most hubs followed Henry lower as soft shoulder season fundamentals kept a lid on prices in the nearer term.  West Texas Pressure Eases Permian Basin hubs remained at discounted levels, but the regional price outlook strengthened during the Ap ..read more
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Heavy Supply Overhang, Enduring West Texas Price Pressure Weigh Down Natural Gas Forwards
Natural Gas Intelligence
by Kevin Dobbs
2M ago
Lofty levels of natural gas in storage and a severe Permian Basin supply glut continued to cloud the outlook for prices. Natural gas forward prices fell in every region during the April 11-17 trading period, NGI’s Forward Look data show. Levels remained well below the $2.00/MMBtu level across the Lower 48, with exceptionally weak West Texas pricing persisting. Front month fixed prices at benchmark Henry Hub fell 5.3 cents for the period to end at $1.714.  [Market Moves: What is affecting the natural gas market today? From the LNG pause to climate goals, get the latest on what is top of mi ..read more
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Natural Gas Forwards Steady as Market Waits for Summer Cooling Demand
Natural Gas Intelligence
by Jeremiah Shelor
2M ago
With the market weighing mild shoulder season weather and bloated storage against weaker production, regional natural gas forward prices generally held steady at the front of the curve during the April 4-10 trading period. Fixed prices at benchmark Henry Hub finished the period at $1.888/MMBtu for May delivery, up 4.3 cents week/week, according to NGI’s Forward Look. Numerous Lower 48 hubs similarly finished within a nickel of even. There were some exceptions, notably in the Permian Basin, where the region’s oil-driven economics contributed to an inversion of natural gas prices for May deliver ..read more
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Natural Gas Forwards Entering Shoulder Season in Search of Recovery
Natural Gas Intelligence
by Jeremiah Shelor
2M ago
Regional natural gas forward prices advanced during the March 28-April 3 trading period as the start of the spring injection season found market bulls searching for signs of green shoots after a bitter winter. May fixed prices at Henry Hub rallied 12.1 cents to $1.845/MMBtu, setting the pace for similar front-month gains across much of the Lower 48, NGI’s Forward Look data show. Working Down The Storage Glut With the winter that wasn’t officially in the books, the market can shift its attention to the injection season.  Pricing dynamics across the curve reflect a market caught between an ..read more
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Natural Gas Forwards Continue to Struggle as Market Wrestles with Storage Glut
Natural Gas Intelligence
by Jeremiah Shelor
2M ago
As an outsized storage surplus continued to hang over the outlook, regional natural gas forward prices shed value during the March 21-27 trading period, NGI’s Forward Look data show. Front month fixed prices at benchmark Henry Hub fell 12.7 cents for the period to end at $1.577/MMBtu. However, the benchmark also saw double-digit losses for the May and June contracts. Fixed prices for June 2024 delivery at Henry dipped below $2.000 during the period to $1.959, Forward Look data show. [Mexico Matters: Cross-border energy trade between the U.S. and Mexico reached $82 billion last year. Understand ..read more
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Permian Natural Gas Forward Prices Plummet; Other Markets Seeing Basis Improvement
Natural Gas Intelligence
by Jeremiah Shelor
3M ago
Natural gas forward prices pushed modestly higher at the front of the curve during the March 14-20 trading period, particularly in the Northeast and Appalachia, data from NGI’s Forward Look show. Meanwhile, spring contracts at hubs near the congested Permian Basin struggled under the weight of weak near-term fundamentals. Fixed prices for April delivery at benchmark Henry Hub added 4.1 cents week/week to exit the period at $1.704/MMBtu. Modest front month fixed price gains were the norm for most of the Lower 48. West Texas Woes With the market awash in supply exiting an exceptionally mild wint ..read more
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