Into The Vortex – Natural Gas Outlook as Hurricane Season Arrives

Natural gas prices traditionally oscillate sharply this time of year between summer weather forecasts and supply. No different this year, ahead of the Juneteenth holiday NYMEX futures revered five days of falling Tuesday to close sharply higher. Weather models forecast US temperatures had shifted hotter for parts of the eastern and southern US from June 28-July 2. The National Weather Service (NWS) said that “the vast majority of the lower 48 US states could see above-average temperatures for the next … Continue reading “Into The Vortex – Natural Gas Outlook as Hurricane Season Arrives”

Into The Vortex – Natural Gas Production and Weather Outlook for Summer

Natural gas prices have had another volatile week after hitting 4-3/4-month prompt futures high on hotter-than-normal US temperatures forecasts from June 18-25. However, July Nymex natural gas on Wednesday closed down -2.68% on supply concerns. As of May 31, US natural gas inventories were up +13.5% y/y and were +25.1% above their 5-year seasonal average, signaling ample gas supplies. EQT Corp., the leading producer of natural gas in North America announced it is now reinstating the 1 billion cubic feet … Continue reading “Into The Vortex – Natural Gas Production and Weather Outlook for Summer”

Into The Vortex – Natural Gas May Recap and Outlook for Summer

The EIA reported the natural gas storage build in the U.S. last week came in larger than expected with +98 Bcf in storage with consensus a build of +84 Bcf. For perspective in the same week last year stocks were +105Bcf, with a five-year average +103Bcf. The withdrawal season ended with stocks at the highest level in years. As of May 17, natural gas inventories were up +16.1% y/y and were +28.8% above their 5-year seasonal average, signaling ample gas … Continue reading “Into The Vortex – Natural Gas May Recap and Outlook for Summer”

Into The Vortex – Natural Gas Recap and Outlook with Volatile Weather

The EIA reported the natural gas storage build in the U.S. last week came in larger than expected with +84 Bcf in storage with consensus a build of +78 Bcf. For perspective in the same week last year stocks were +108Bcf, with a five-year average +104Bcf. The withdrawal season ended with stocks at the highest level in years. As of May 17, natural gas inventories were up +16.1% y/y and were +28.8% above their 5-year seasonal average, signaling ample gas … Continue reading “Into The Vortex – Natural Gas Recap and Outlook with Volatile Weather”

Into The Vortex – Natural Gas Recap and Outlook Heading into Summer

U.S. Natural Gas futures fell back from 4-1/4-month prompt futures high and closed sharply lower despite the EIA storage report showed inventories rose less than expected. The selling appeared from a long spec and ETF market overbought from to this week’s sharp rally. Prices have consolidated the recent bounce after snapping a three-week losing streak. We have now bounced almost 50% above the April 25 swing low around 1.58. Still, Henry Hub futures are still down about 10% so far … Continue reading “Into The Vortex – Natural Gas Recap and Outlook Heading into Summer”

Into The Vortex – Natural Gas Recap and Outlook for The Week Ahead

The EIA reported the natural gas storage build in the U.S. last week came in less than expected with +70Bcf in storage with consensus a build of +79Bcf. For perspective in the same week last year stocks were +93Bcf, with a five-year average +90Bcf. Total stocks at 2633 bcf reduced the surplus relative to the 5-yr avg from 34% to 30.8%. The withdrawal season has ended with stocks at the highest level in years. As of April 26, natural gas … Continue reading “Into The Vortex – Natural Gas Recap and Outlook for The Week Ahead”

Into The Vortex – Natural Gas Recap and Outlook for The Week Ahead

The EIA reported the natural gas storage build in the U.S. last week came in less than expected with +79Bcf in storage with consensus a build of +85Bcf. For perspective in the same week last year stocks were +71Bcf, with a five-year average +81Bcf. The withdrawal season has ended with stocks at the highest level in years. As of April 26, natural gas inventories were up +20.4% y/y and were +34.9% above their 5-year seasonal average, signaling ample natural gas … Continue reading “Into The Vortex – Natural Gas Recap and Outlook for The Week Ahead”

Into The Vortex – Natural Gas Traders Outlook as Prices Approach 29 Year Low

The EIA reported the natural gas storage build in the U.S. last week came in more than expected with +59Bcf in storage with consensus a build of +56Bcf. For perspective in the same week last year stocks were +62Bcf, with a five-year average +72Bcf. The withdrawal season has ended with stocks at the highest level in years. Benchmark front month US natural gas futures hover near 3-3/4-year futures low, nearing a 29-year low Friday as demand continues to weigh on … Continue reading “Into The Vortex – Natural Gas Traders Outlook as Prices Approach 29 Year Low”

Into The Vortex – Natural Gas Traders Outlook with Freeport LNG Impact

The EIA reported the natural gas storage build in the U.S. last week came in more than expected with +92Bcf in storage with consensus a build of +86Bcf. For perspective in the same week last year stocks were +77Bcf, with a five-year average +59Bcf. The withdrawal season has ended with stocks at the highest level in years. Natural gas futures pulled back after a six rally ahead of the weekly storage report with forecasts for warmer US spring temperatures that … Continue reading “Into The Vortex – Natural Gas Traders Outlook with Freeport LNG Impact”

Into The Vortex – Natural Gas Outlook as Geopolitical Tensions Heat Up

Natural gas futures were steady after the EIA reported the natural gas storage build in the U.S. last week came in as expected with +50Bcf in storage with consensus a build of +50Bcf. For perspective in the same week last year stocks were +61Bcf, with a five-year average +61Bcf. The withdrawal season has ended with stocks at the highest level in years. Notably oil futures fell for a fourth straight session as fears on the Iran/Israel Conflict fallout waned. Weak … Continue reading “Into The Vortex – Natural Gas Outlook as Geopolitical Tensions Heat Up”