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2017-08-24 14:25:00

GAS PRICES: ABOVE $2.9

GAS PRICES: ABOVE $2.9

NATURAL GAS PRICE AUG 24 2017

PLATTSNYMEX September gas futures climbed 6.9 cents to $2.962/MMBtu as Monday's eclipse was projected to boost natural gas demand.

The September contract settled at $2.962/MMBtu, up 6.9 cents from Friday's close.

The price increase comes after a week where the NYMEX front-month contract dipped 9 cents over five trading sessions.

Phil Flynn, senior market analyst at Price Futures Group, said the market could be seeing an "eclipse rally," as more gas was likely used for power generation as solar power was not available during the eclipse.

According to US Energy Information Administration data, solar photovoltaic capacity was expected to be affected by an estimated 8.8 GW in California, along with North Carolina seeing nearly 3 GW affected, possibly giving support to prices as gas was used to account for some of that missing power generation.

Any rise in gas demand could put increased pressure on national natural gas stocks, which currently sit 1.8% above the five-year-average, according to EIA data. Gene McGillian, manager of market research at Tradition Energy, said there are expectations that the storage build for the week ended August 18 will be below the five-year-average.

The jump in price goes against the grain of the most recent six- to 10-day outlook from the National Weather Service calling for a likelihood of cooler-than-average weather for the Northeast and Midcontinent.

Flynn said private meteorologist reports are conflicting, as some call for warmer-than-average weather heading into September, whereas others project possible frosts in some regions leading to "possible heating demand in September."

According to Platts Analytics' Bentek Energy data, US dry gas production is expected to dip 400 MMcf day on day to 72.5 Bcf/d, shy of the 73 Bcf/d month-to-date average.

NATURAL GAS PRICES AUG 24 2016 - AUG  2017

NATURAL GAS PRICES 2012 - 2017

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Earlier:

 

Prices
July, 7, 08:15:00

OIL & GAS PRICES: DOWN TO $47

The August light, sweet crude contract on NYMEX dropped $1.94 on July 5 to settle at $45.13/bbl. The September contract was down $1.95 to close at $45.34/bbl. The NYMEX natural gas price for August declined 11¢ to a rounded $2.84/MMbtu. The Henry Hub cash gas price was $2.90/MMbtu on July 5, down 4¢ from June 30, the last available price for the US gas spot price. The Brent crude contract for September on London’s ICE decreased $1.82 to $47.79/bbl while the October contract dropped $1.83 to $48.07/bbl. The July gas oil contract was down $6.75 to $442.25/tonne. The Organization of Petroleum Exporting Countries’ basket of crudes on July 5 was $47.04/bbl, down 53¢.

 
 Prices
July, 7, 08:00:00

GAS PRICES DOWN

In the report -- trailed in May at the Flame conference in Amsterdam -- the IGU also confirmed that the average global wholesale gas price averaged just $3.35/MMBtu in 2016, the lowest price in any survey done by the IGU since it started in 2005.

 Prices
June, 30, 08:54:49

WEEKLY OIL GAS PRICES UP

The August light, sweet crude contract on NYMEX gained 50¢ on June 28 to settle at $44.74/bbl. The September contract was up 50¢ to close at $44.99/bbl. The NYMEX natural gas price for July gained 3¢ to a rounded $3.07/MMbtu. The Henry Hub cash gas price also gained 3¢ to $3.01/MMbtu. The Brent crude contract for August on London’s ICE increased 66¢ to $47.31/bbl while the September contract climbed 62¢ to $47.54/bbl. The July gas oil contract gained $4.25 to $427.50/tonne. The Organization of Petroleum Exporting Countries’ basket of crudes on June 28 was $44.48/bbl, up 25¢.

 Prices
June, 30, 08:50:00

EU GAS PRICES DOWN

Near-curve contracts are seen edging higher on crude gains. On the spot, the Dutch TTF day-ahead was trading at Eur15.30/MWh, down 2.5 euro cent/MWh from Wednesday's close. German prices were also seen ticking down, with the NCG spot contract down 15 euro cent at Eur15.65/MWh, while the GASPOOL spot was 2.5 euro cent lower at Eur15.40/MWh.

 Prices
June, 28, 15:20:00

MODEST OIL GAS PRICES

The August light, sweet crude contract on NYMEX gained 37¢ on June 26 to settle at $43.38/bbl. The September contract was up 34¢ to close at $43.61/bbl. The NYMEX natural gas price for July gained nearly 10¢ to a rounded $3.03/MMbtu. The Henry Hub cash gas price was $2.98/MMbtu, up 12¢. The Brent crude contract for August on London’s ICE increased 29¢ to $45.83/bbl while the September contract was up 29¢ to $46.04/bbl. The July gas oil contract dropped $1.75 to $409.50/tonne. OPEC’s basket of crudes on June 26 was $43.14/bbl, down 12¢.

 Prices
June, 28, 15:15:00

GAS PRICE: ABOVE $3.03

The NYMEX July natural gas futures contract settled 1 cent higher at $3.037/MMBtu on Tuesday, as a bullish weather outlook continued to drive up prices.

 Prices
June, 9, 21:10:00

GAS PRICE: $3.020

At the New York Mercantile Exchange (Nymex), the July 2017 contract price fell 5¢ from $3.071/MMBtu last Wednesday to $3.020/MMBtu yesterday.

 

 

 

 

Tags: GAS, PRICE