Natural Gas prices move higher after the weekly EIA report released

From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 106 billion cubic feet for the week ended May 10. The average forecast of analysts polled by S&P Global Platts had called for an increase of 101 billion cubic feet. Total stocks now stand at 1.653 trillion cubic feet, up 130 billion cubic feet from a year ago, but 286 billion below the five-year average, the government said. June natural gas NGM19, +1.46% traded at $2.630 per million British thermal units, up 2.9 cents, or 1.1%,…

Why are natural gas prices so low?

Analysis: In-Line Rise in Storage Stockpiles held in underground storage in the lower 48 states rose by 85 billion cubic feet (Bcf) for the week ended May 3, matching the guidance as per the analysts surveyed by S&P Global Platts. However, the increase was higher than the five-year (2014-2018) average net injection of 72 Bcf, while the reported week saw a similar increase last year. Following past week’s supply addition, at 1.547 trillion cubic feet (Tcf), natural gas inventories are 303 Bcf (16.4%) under the five-year average but 128 Bcf…

Natural gas prices fall after weekly EIA report shows increased supplies

From Myra P. Saefong : The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 85 billion cubic feet for the week ended May 3. That matched the average forecast of analysts polled by S&P Global Platts. Total stocks now stand at 1.547 trillion cubic feet, up 128 billion cubic feet from a year ago, but 303 billion below the five-year average, the government said. June natural gas NGM19, -1.11% traded at $2.589 per million British thermal units, down 2.1 cents, or 0.8%, from Wednesday’s settlement. It was trading at…

Why natural gas futures opened sharply lower today

The early price action highlights one of the factors that could influence the direction of the market this week. With the start of injection season about two weeks away, and weather bouncing between cold and mild, traders may just decide to hold it in a range, which means we could see a choppy two-sided trade. At 10:36 GMT, May natural gas futures are trading $2.762, down $0.005 or -0.21%. The United States Natural Gas Fund L.P. (UNG) was trading at $24.31 per share on Monday afternoon, down $0.10 (-0.41%). Year-to-date, UNG has…

Natural Gas Price Lower on Forecast Change

Natural gas futures gapped lower on the opening on the daily chart and continued to sell-off after that initial plunge. This can only mean one thing:  the weather forecast has changed. Going into this week, the main concern was temperatures after March 15. Today’s price action suggests that the forecasts may now be calling for milder temperatures after this date. The new outlooks will be released later in the session. At 07:54 GMT, May natural gas is trading $2.812, down $0.058 or -2.02%. Short-Term Weather Outlook NatGasWeather predicts for March 11-14, “Frigid…