Articles tagged Tropical Storm

With widespread and intensifying heat gripping the Lower 48, natural gas futures advanced early Friday but could not hold gains into afternoon trading. Spot prices dropped.

With summer heat falling short of record forecasts and natural gas storage levels still well above historical levels, gas forwards slipped at the front of the curve during the June 20-26 trading period, according to NGI’s Forward Look.

Afforded little support from the latest storage data for a definitive move in either direction, August Nymex natural gas futures meandered near unchanged through midday trading on Thursday.

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.

The latest reported storage build matched most expectations, but provided no definitive directional support as natural gas futures vacillated between modest losses and gains in midday trading on Friday.

Prompt month natural gas futures tripped lower in early trading Thursday as weather forecasts turned a bit cooler and the Tropics heated up.

Natural gas futures forged ahead for the first time in five sessions on Tuesday as traders shifted their focus from stout supplies to a surge in heat that canvassed large swaths of the Lower 48 and galvanized air conditioning use.

While a tropical cyclone threatens heavy rain in Texas, which could ease cooling demand, hot weather engulfing a wider swath of the country pulled July futures higher in midday trading on Tuesday.

With extreme heat expected to spread across the country and drive demand for cooling, July natural gas futures ended their four-day losing streak in early Tuesday trade.

Estimates showing strengthening liquefied natural gas (LNG) demand boosted gas futures in early trading Monday, while yet another named storm could threaten production and exports later this week. The November Nymex contract was up 8.8 cents to $2.526/MMBtu at around 8:45 a.m. ET.