Updated Aug 22, 2024
8/22/24
Weekly natural gas spot prices crept higher in the week as regional hub values varied amid changes in weather forecasts that pulled back the number of cooling-degree days expected as the calendar drifts from summer closer to fall.
Weekly natural gas cash prices slipped lower in the week as abundant Lower 48 supply undercut support from strong cooling demand and LNG feed gas flows.
Weekly natural gas cash prices retreated amid seasonally mild temperatures in key sections of the Lower 48 and strong national production.
Weekly natural gas cash prices drifted lower despite sizzling summer temperatures across much of the Lower 48 and maintenance work in the Permian Basin that temporarily lowered production below the century mark.
Weekly natural gas cash prices were higher amid demand impacted by a heat wave and former Hurricane Beryl, while a slow inventory reduction that was spooking the futures market empowered the bears.
In the workweek ahead of the Fourth of July, natural gas cash prices dropped amid strong production and easing demand because of a cooldown in the country’s midsection and business closures for the holiday.
Weekly natural gas cash prices dropped in the final week of June – after rallying through the first three weeks of the month – despite exceptional early summer heat and forecasts for more to come.
Weekly natural gas cash prices advanced amid sizzling summer temperatures and robust cooling demand across wide swaths of the Midwest and East.
Weekly natural gas cash prices moved higher as hot weather in the West gave the country its first decent bout of the summer-like cooling demand. Futures, anticipating more sweltering heat in the weeks ahead, leapt higher.
Weekly natural gas cash prices retreated with demand easing as extreme heat and volatile weather gave way to milder conditions. Futures pared earlier steep losses into the week’s end as supply and demand fundamentals shifted.