Latest news with #NatGasWeather
Wall Street Journal
10 hours ago
- Business
- Wall Street Journal
U.S. Natural Gas Futures Post Weekly Gains
1514 ET – U.S. natural gas futures settle higher and register their first weekly increase in four weeks with weather heating up and slowing the pace of inventory builds. National demand is expected to increase to 'very strong levels' by the middle of next week and into the following week, 'as highs of upper 80s to 100s rules most of the U.S.,' says in a note. 'The focus remains on if front month contracts hold above $3.50.' Nymex natural gas settles up 0.6% at $3.565/mmBtu, up 7.6% from a week ago. ( 0912 ET – U.S. natural gas futures are higher and heading for a weekly gain as summer heat supports power-sector demand. 'The late-July heat wave and sense of a fundamental inflection point may drive a further test of resistance short-term,' Eli Rubin of EBW Analytics says in a note. The storage surplus at 178 Bcf over the five-year average is close to peaking but may be slow to erode of the next two months, 'likely keeping bullish pressures in check,' he adds. Nymex natural gas is up 1.8% at $3.605/mmBtu. (
Yahoo
5 days ago
- Business
- Yahoo
Nat-Gas Prices Continue Higher on Hot US Weather Forecasts
August Nymex natural gas (NGQ25) on Tuesday closed up +0.057 (+1.64%), adding to Monday's gain of +4.59%. Aug nat-gas prices on Tuesday extended the 4-session rally and posted a new 1.5-week high. The main bullish factor was warmer US weather forecasts, which would boost nat-gas demand from electricity providers to meet increased air conditioning usage. Nat-gas prices were also supported on near-record LNG exports. Heightened Trade Tensions Weigh on Crude Oil Prices Crude Oil Prices Tumble as Trump Remains Patient with Putin Nat-Gas Prices Soar as US Weather Forecasts Heat Up Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! NatGasWeather said the 8-15 day forecast is for highs in the upper 80s to 100s in most of the US, especially California, the Southwest, and Texas. Lower-48 state dry gas production on Tuesday was 107.0 bcf/day (+3.0% y/y), according to BNEF. Lower-48 state gas demand on Tuesday was 79.5 bcf/day (-6.5% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Monday were 15.2 bcf/day (-1.0% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported last Wednesday that total US (lower-48) electricity output in the week ended July 5 rose +1.0% y/y to 93,747 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 5 rose +2.4% y/y to 4,247,938 GWh. Last Thursday's weekly EIA report was bullish for nat-gas prices since nat-gas inventories for the week ended July 4 rose +53 bcf, below the consensus of +61 bcf and right on the 5-year average for the week. As of July 4, nat-gas inventories were down -6.0% y/y, but were +6.1% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 8, gas storage in Europe was 61% full, compared to the 5-year seasonal average of 71% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending July 11 was unchanged at 108 rigs, slightly below the 15-month high of 114 rigs posted on June 6. In the past nine months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
02-07-2025
- Business
- Wall Street Journal
U.S. Natural Gas Futures Rise on Demand Expectations
1528 ET – U.S. natural gas futures end the day and the week higher. Prospects of strong summer demand outweigh this week's large storage build and decline in LNG exports due to maintenance at several terminals. 'To the bullish side is a hotter than normal pattern still forecast for the second half of June and with expectations July will be much hotter than normal as well,' says in a note. 'There's also the expectation the balance will tighten in the coming quarters, aided by additional LNG capacity coming online,' the forecaster adds. Nymex natural gas settles up 2.9% at $3.784/mmBtu, and is up 9.8% from a week ago. ( 0922 ET – U.S. natural gas futures are on track for solid weekly gains with traders looking to summer heat and LNG to lift demand. This week's advance is 'despite mild weather, a bearish EIA report, extended LNG maintenance and higher production readings,' Eli Rubin of EBW Analytics notes. The long-term market narrative is bullish, although increasing near-term storage surpluses may dampen upside potential in the fall, he says. Nymex natural gas is up 0.8% at $3.707/mmBtu. (
Wall Street Journal
30-06-2025
- Business
- Wall Street Journal
U.S. Natural Gas Futures Snap Losing Streak
1516 ET – U.S. natural gas futures rebound after five straight sessions of losses as the front month switches to August. The heat wave across the Northeast this week is expected to have slowed the pace of inventory builds as more gas is used to generate electricity for air conditioning. The EIA reported a 15% rise in power-sector gas consumption through Wednesday, citing data from S&P Global Commodity Insights. Wind and solar power generation were strong, although wind generation is seen lighter over the coming week 'to aid natural gas share of the thermal stack,' says in a note. Nymex natural gas settles up 6% at $3.739/mmBtu, but down 5.3% on the week. ( 0931 ET – Natural gas futures pick up after a string of five losses as the August contract moves to the front of the curve. Cooling demand forecasts for the first half of July are 'hardly remarkable,' but match this past week's heat wave 'with room for still hotter weather to emerge,' Eli Rubin of EBW Analytics says in a note. 'It may take another 7-10 days for bulls to lick wounds and return to the market.' Nymex natural gas is up 2.9% at $3.629/mmBtu. (
Wall Street Journal
26-06-2025
- Business
- Wall Street Journal
U.S. Natural Gas Futures Fall Awaiting Hotter Weather
1504 ET – Natural gas futures end the day and the week lower as inventories continue to build amid low seasonal weather-driven demand. National demand is likely to be light over coming days, with regional strength in the West and parts of Texas, says in a note. Longer-range forecasts show heat building across the U.S. in the second half of June for strong national demand, the forecastser adds. 'If it doesn't and cooler trends show up, it very likely will be met with disappointment.' Nymex gas for July delivery settles down 2.1% at $3.447/mmBtu for a 7.5% weekly loss. ( 1007 ET – U.S. natural gas futures are down for a third straight session as low weather-driven demand looks set to last into the first days of June while LNG feedgas flows ease and production edges up. The EIA this week reported a fifth straight triple-digit increase in inventories, and further large builds are expected before higher temperatures set in to lift demand. 'As the market sees this inflection point begin to arrive-likely alongside hotter weather forecasts-Nymex gas futures may mark a bottom and pivot higher,' Eli Rubin of EBW Analytics says in a note. Nymex natural gas is down 0.8% at $3.493/mmBtu. (
