Natural Gas Futures Prices Extend Recovery as Buyers Capitalize on ‘Oversold Conditions’
Natural gas futures forged further ahead early Wednesday, supported by bargain buying and expectations for a bullish government inventory print.
Natural gas futures forged further ahead early Wednesday, supported by bargain buying and expectations for a bullish government inventory print.
Natural gas futures hovered in a narrow range early Tuesday, with traders assessing the impacts of the former Hurricane Debby and mixed weather forecasts.
Natural gas futures traded upward early on Thursday as the market awaited the latest government inventory data.
Energy executives in the Rockies and Midcontinent have adopted a more bullish outlook on natural gas prices since earlier in the year, according to the Federal Reserve Bank of Kansas City.
July natural gas futures resumed their decline in early trading Tuesday, undercut by higher estimates for Lower 48 production.
The International Energy Agency (IEA) is forecasting a substantial decline in oil supply from Mexico between 2024 and 2030, a trend that would most likely result in lower natural gas production as well.
Natural gas futures flopped on Friday, capping a week of losses driven by rising production volumes that threaten to keep storage levels far above historic norms.
June Nymex natural gas futures climbed with the mercury as hot weather supports cooling demand, driving prices to four-month highs.
Natural gas futures rallied anew on Monday against a backdrop of looming summer weather, lighter production and an improving storage situation.
Natural gas futures continued their winning ways on Monday, advancing for a third straight day amid supply curtailments, improving LNG levels and forecasts for late-May heat.