Natural Gas Futures Flounder After Bearish EIA Print — MidDay Market Snapshot
August natural gas futures were sinking through midday trading Thursday after being knocked down by a bearish weekly government storage report.
Senior Editor, Markets
Fairfax, VA
August natural gas futures were sinking through midday trading Thursday after being knocked down by a bearish weekly government storage report.
Natural gas futures hovered close to even early Thursday as the market prepared for the release of a government inventory report expected to show another weak injection of supply into underground storage.
August natural gas futures were narrowing losses through midday trading Wednesday, supported by EQT Corp. management saying they would continue to “tactically” curtail output into the fall.
Natural gas futures tumbled in early trading Wednesday after the largest U.S. natural gas producer reaffirmed its 2024 sales volumes, signaling a further unwinding of supply curtailments put in place earlier this year to help balance the market.
After rallying Monday, natural gas futures eased lower through midday trading Tuesday as a faster pace of production reminded traders about stubbornly high storage surpluses.
August natural gas futures are riding higher before rolling off the board next week with speculator positioning and technical levels providing support.
Natural gas futures moved lower in early trading Tuesday as production levels ticked higher to undercut bullish sentiment from a post-Hurricane Beryl recovery in LNG exports.
Transcontinental Gas Pipe Line Co. LLC (Transco) has asked FERC to start service on the last phase of its 829,400 Dth/d Regional Energy Access (REA) expansion project by the end of this month.
With U.S. LNG exports notching new post-Hurricane Beryl highs, natural gas futures were trading sharply higher through midday trading Monday.
Natural gas futures bounced higher in early trading Monday, supported by the continued recovery of a key Texas LNG terminal damaged by former Hurricane Beryl.