Momentum Proves Elusive for April Natural Gas Futures
Forecasts called for light heating demand
LNG feed gas volumes tampered off
Analysts anticipate a light storage withdrawal
Natural gas futures on Tuesday finished in the red for a fifth consecutive session, as traders mulled forecasts for light heating demand, a leveling off of liquefied natural gas (LNG) levels and early expectations for a light storage withdrawal.
The April Nymex contract declined two-tenths of a cent day/day and settled at $2.662/MMBtu. May declined by an equal amount and closed at $2.696.
NGI’s Spot Gas National Avg. shed 3.0 cents to $2.470.
LNG feed gas volumes topped 11 Bcf at the close of trading last week, NGI data showed, hovering near record levels and representing what market participants thought was a full recovery from the disruptions caused by the Texas freeze in mid-February. However, over the weekend and into Monday and Tuesday, LNG levels dipped below 11 Bcf, and on Wednesday, they decli
April Natural Gas Futures Languish as LNG Eases and Mild Weather Spreads
Natural gas futures on Tuesday finished in the red for a fifth consecutive session, as traders mulled forecasts for light heating demand, a leveling off of liquefied natural gas (LNG) levels and early expectations for a light storage withdrawal.
The April Nymex contract declined two-tenths of a cent day/day and settled at $2.662/MMBtu. May declined by an equal amount and closed at $2.696.
NGI’s Spot Gas National Avg. shed 3.0 cents to $2.470.
LNG feed gas volumes topped 11 Bcf at the close of trading last week, NGI data showed, hovering near record levels and representing what market participants thought was a full recovery from the disruptions caused by the Texas freeze in mid-February. However, over the weekend and into Monday and Tuesday, LNG levels dipped below 11 Bcf, and on Wednesday, they declined to 9.83 Bcf during the trading session.
March Natural Gas Futures, Cash Prices Finish Trading Week on Sour Note
Futures faltered for a second-straight day
Mixed demand outlooks weighed on markets
Cash prices snapped a five-day win streak
Natural gas futures flip-flopped between gains and losses early on Friday, as traders weighed fluctuating weather forecasts against renewed strength in U.S. liquefied natural gas (LNG) volumes. Still, futures ultimately finished in the red as the cloud of a bearish storage report from a day earlier and the light winter heating demand it reflected hung over markets.
The March Nymex gas futures contract settled at $2.564 on Friday, down 10.0 cents day/day. A day earlier, in its debut as the prompt month, March shed 3.8 cents.
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