2018-01-03 16:00:00
GAS PRICES UP TO $2.990/MMBTU
PLATTS - NYMEX February natural gas futures extended gains overnight in the US leading up to Tuesday's open, on the back of current and midrange weather support. At 7:20 am ET (1220 GMT) the contract was gripping the upside at $2.990/MMBtu, up 3.7 cents on the session.
Frigid weather with temperatures "rivaling that of the past 100 years" will linger across the northeastern and central US to start January, AccuWeather senior meteorologist Alex Sosnowski said in a January 1 forecast. AccuWeather RealFeel temperatures are expected to be below zero over much of the Northeast and well below zero in most of the Midwest.
Further out, the six-to-10-day and eight-to-14-day projections from the National Weather Service show below-average temperatures engulfing portions of the Northwest and a majority of the country's eastern two-thirds, which should keep demand for heating in the residential and commercial sectors and consequently natural gas consumption levels elevated in the weeks ahead.
"Energy demands will skyrocket. Household heating budgets may take a huge hit," Sosnowski added.
Withdrawals from underground natural gas storage facilities are expected to climb into the 200-Bcf range over the next three or four weeks as the cold weather supports rising demand.
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Earlier:
2017, December, 29, 11:40:00
GAS PRICES DOWN TO $2.643/MMBTUPLATTS - After dropping 2.4 cents Tuesday to settle at $2.643/MMBtu, NYMEX January natural gas futures dipped then rallied ahead of Wednesday's open and the contract's expiry at the close of business, as traders mulled the likely impact on demand from weather outlooks.
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2017, December, 6, 12:05:00
GAS PRICES DOWN TO $2.933PLATTS - Colder weather outlooks for major heating regions support the upside, while the recent and impending lackluster pace of storage erosion is keeping downward pressure on the market. At 6:50 am ET (1150 GMT) the contract was 5.2 cents lower at $2.933/MMBtu.
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2017, December, 1, 12:40:00
GAS PRICES DOWN TO $3.097/MMBTUPLATTS - Having gained over 5 cents yesterday as the new front month contract, NYMEX January 2018 natural gas futures were lower ahead of Thursday's open and the morning release of the weekly storage data. At 6:45 am ET (1145 GMT), the contract was down 8.2 cents to $3.097/MMBtu.
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2017, November, 29, 09:30:00
NYMEX GAS PRICE: $2.928/MMBTUPLATTS - A bullish weather forecast for much of the US provided a boost for gas futures coming out of the four-day Thanksgiving holiday, with NYMEX December settling Monday at $2.928/MMBtu, up 11.5 cents from Friday's close.
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2017, October, 13, 13:00:00
PRICES: OIL $52-54; GAS $3.03-3.19EIA forecasts Brent spot prices to average $52/b in 2017 and $54/b in 2018, which is $1/b higher in 2017 and $2/b higher in 2018 compared with last month's forecast. West Texas Intermediate (WTI) average crude oil prices are forecast to be $3.50/b lower than Brent prices in 2018.
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2017, September, 20, 09:00:00
GAS PRICES UP TO $3.146The NYMEX October natural gas futures contract jumped 12.2 cents Monday to settle at $3.146/MMBtu, with warmer-than-average weather expected to persist through the end of September across major demand areas.
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2017, September, 13, 15:20:00
OIL PRICES: $51 - $52, GAS PRICES: $3.05 - $3.29EIA forecasts Brent spot prices to average $51/b in 2017 and $52/b in 2018. Expected growth in natural gas exports and domestic natural gas consumption in 2018 contribute to the forecast Henry Hub natural gas spot price rising from an annual average of $3.05/MMBtu in 2017 to $3.29/MMBtu in 2018. |
