Against a consistent backdrop of lackluster natural gas demand, robust production, lagging exports and unseasonably solid storage inventories, forward prices continued to crumble during the March 16-22 period, according to NGI’s Forward Look. Natural gas fixed prices declined more than 30.0 cents on average for April, with several U.S. locations recording even steeper decreases for the period, Forward Look data showed. May prices were similarly weak, though the full summer strip (April-October) averaged only one-quarter lower as traders baked in the prospects of at least some heat in the core ..read more

Though late-season cold was boosting heating demand across most of the Lower 48, natural gas forward prices continued to decline during the March 9-15 period, according to NGI’s Forward Look. In a sign that the chilly weather arrived too little too late, fixed price decreases averaged 11.0 cents for the April contract, Forward Look data showed. This was on top of double-digit losses the prior week. The summer strip (April-October) – heavily influenced by plump, well above-average storage inventories along with robust production – averaged 14.0 cents lower through the period. The winter 2023-20 ..read more

Declining March heating demand expectations inspired coast-to-coast discounts for regional natural gas forwards during the March 2-8 trading period, NGI’s Forward Look data show. April fixed prices at benchmark Henry Hub fell 27.1 cents to end the period at $2.548/MMBtu, and week/week fixed price discounts of around 20-30 cents were the norm for much of the Lower 48. The discounts occurred as the latest forecasts served up a notably less bullish outlook for March cold compared to week-earlier expectations. The latest midday run of the Global Forecast System model maintained above-normal heatin ..read more

Natural gas forward prices escalated across the Lower 48 throughout the Feb. 23-March 1 period, with a continuation of winter storms fueling sharp premiums on the West Coast, according to NGI’s Forward Look. Fixed prices remain low overall as benchmark Henry Hub stood Wednesday at $2.819/MMBtu for April. That has prompted some power generators to make the switch to natural gas from coal to meet electricity demand. Freeport LNG also continues to take in more deliveries of gas to feed its liquefied natural gas terminal. In addition, some technical momentum has come into play in recent days. Stil ..read more

A dichotomy of steep gains for the West and hefty losses everywhere else played out in natural gas forwards markets during the Feb. 16-22 trading period, NGI’s Forward Look data show. This dynamic largely reflected the latest weather maps from Maxar’s Weather Desk, which showed shades of blue colder-than-normal temperature deviations blanketing much of the western half of the Lower 48 into the second week of March. Warmer temperatures, meanwhile, were seen covering the eastern Lower 48. The latest 11- to 15-day outlook from Maxar Thursday pointed to “continued below to much below normal temper ..read more

The prospect of late-month chills, particularly for western and northern portions of the Lower 48, helped rally natural gas forward prices at several regional hubs during the Feb. 9-15 trading period, NGI’s Forward Look data show. In the West, the perennially constrained SoCal Citygate led the surge higher, with March fixed prices swelling $1.178 week/week to $5.332/MMBtu. Other western markets also saw notable gains, including Malin, where March fixed prices jumped 66.6 cents to end the period at $3.755. The latest 11- to 15-day forecast from Maxar’s Weather Desk Thursday was colder-trending ..read more

Already deflated by overwhelmingly mild weather so far this winter, regional natural gas forward prices saw a mix of generally small adjustments during the Feb. 2-8 trading period, NGI’s Forward Look data show. Having descended into sub-$3 territory, benchmark Henry Hub conceded another 6.9 cents for March fixed price trading, ending the period at $2.404/MMBtu. Numerous Lower 48 hubs finished within a dime of unchanged week/week. In the Midwest, Chicago Citygate March fixed prices ended the period at $2.498, up 0.3 cents. In the Northeast, Transco Zone 6 NY shed 9.4 cents to fall to $2.974. [2 ..read more

Value continued to erode in regional natural gas forwards markets during the Jan. 26-Feb. 1 trading period as forecasts showed this month was poised to carry over the same warm-dominated themes that have collapsed prices winter-to-date. March fixed prices at benchmark Henry Hub sank 44.7 cents to end the period at $2.473/MMBtu, and regional hubs throughout the Lower 48 followed suit by posting fixed price discounts ranging from around 20.0-90.0 cents, NGI’s Forward Look data show. A notable outlier was in the Pacific Northwest, where March fixed prices at Northwest Sumas climbed 67.1 cents wee ..read more

With February only days away, the natural gas market may be closing the book on winter – and brushing off news of Freeport LNG’s impending restart – as forward prices continued to soften through the Jan. 19-25 period, according to NGI’s Forward Look. The past week’s trading patterns continued the trends that have played out throughout much of the season, with the West and East coasts leading the step lower as intimidating cold has been lacking from recent forecasts. NatGasWeather said a strong winter storm would exit the East on Thursday, while a colder system upstream was forecast to track ac ..read more

A divergence in natural gas prices occurred along the forward curve from Jan. 5 through 12, with a relentless stretch of winter weather leading to a recovery in West Coast prices, while springlike conditions on the East Coast sent prices lower there.  February fixed prices ultimately averaged 65.0 cents higher through the period, while the summer strip (April-October) picked up 6.0 cents and the winter 2023-2024 held steady, NGI’s Forward Look data showed. A week after finally backing off recent highs, West Coast markets bounced back as the brutal winter conditions that started in Decembe ..read more