Natural Gas Futures Muster Fresh Momentum to Kick Off Trading Week
Coming off back-to-back losses to close out last week, natural gas futures found fresh footing early Monday amid signs of late-summer supply/demand tightening.
Coming off back-to-back losses to close out last week, natural gas futures found fresh footing early Monday amid signs of late-summer supply/demand tightening.
Natural gas futures were near even ahead of today’s government inventory report. Analysts were looking for an unusually small increase – or a withdrawal from storage.
Natural gas futures were treading lightly early on Tuesday, with traders assessing recent bullish supply/demand signs that ignited an August rally against the unknowns of another potential hurricane lurking in the Atlantic and stubbornly high storage levels.
Natural gas futures kicked off the trading week where the market finished the last – pushing upward on the heels of favorable weather forecasts, lighter supply readings and bullish bets by fund managers.
Natural gas futures searched for direction as Thursday’s session got underway, with market participants contemplating a mixed weather outlook and awaiting the latest government inventory data.
Natural gas futures sputtered early on Monday as a powerful storm barreled into the Southeast, cooler northern weather arrived, and supplies in storage held at stout levels.
Natural gas futures probed higher early Friday, supported by favorable weather data and steadily strong cooling demand.
Natural gas futures traded upward early on Thursday as the market awaited the latest government inventory data.
July natural gas futures were tumbling into expiration, and the near-term outlook for the August contract also looked bleak as weak LNG demand and rising production placed bears in the driver’s seat.
Natural gas futures floundered once again on Tuesday, dragged lower by elevated supply concerns and repositioning ahead of the prompt month expiration this week.