January Nymex natural gas (NGF26) on Wednesday closed up by +0.077 (+1.72%). Dec nat-gas prices moved higher on Wednesday after weekly nat-gas storage fell more than expected.  The EIA reported that nat-gas inventories fell -11 bcf in the week ended November 21, a larger draw than expectations of -9 bcf.  Nat-gas prices extended their gains on Wednesday due to colder US weather forecasts, potentially boosting nat-gas heating demand.  Forecaster Atmospheric G2 said Wednesday that forecasts shifted colder i ...

Core Insights - Natural gas prices increased by 2.95% on December Nymex due to expectations of colder temperatures in the US, which are likely to boost heating demand [1] - The weekly EIA storage report indicated a neutral impact on prices, with inventories rising by 33 billion cubic feet (bcf), aligning with market expectations but falling short of the five-year average of 42 bcf [5] Production and Demand - US dry gas production reached 110.1 bcf/day, marking an 8.4% year-over-year increase, while gas demand was 79.5 bcf/day, up 1.5% year-over-year [2] - The Edison Electric Institute reported a slight increase in US electricity output, which rose by 0.05% year-over-year to 73,730 GWh for the week ending November 1 [3] Inventory and Storage - As of October 31, natural gas inventories were up 0.4% year-over-year and 4.3% above the five-year seasonal average, indicating sufficient supply levels [5] - European gas storage was reported to be 83% full, compared to the five-year average of 92% for this time of year [5] Drilling Activity - The number of active US natural gas drilling rigs increased to 125, the highest level in 2.25 years, reflecting a rise from a low of 94 rigs in September 2024 [6] - The EIA has raised its forecast for US natural gas production in 2025 by 0.5% to 107.14 bcf/day, indicating a trend towards higher production levels [4]

November Nymex natural gas (NGX25) on Monday closed up +4.18%, regaining most of the losses seen later last week. Nov nat-gas prices rallied on Monday as US weather forecasts turned cooler, which would boost heating demand in the northern parts of the country.  Atmospheric G2 said that forecasts shifted cooler for much of the central and eastern US for Nov 1-5, and also cooler for the East for Nov 6-10. More News from Barchart US (lower-48) dry gas production on Monday was 108.2 bcf/day (+4.2% y/y), acc ...

November Nymex natural gas (NGX25) on Tuesday closed up by +0.077 (+2.27%). Nov nat-gas prices moved higher for the third consecutive session on Tuesday and posted a 1.5-week high.  Forecasts for colder US weather in the eastern two-thirds of the country will boost heating demand for natural gas and are pushing prices higher.  Forecaster Atmospheric G2 said Tuesday that forecasts shifted cooler over a large portion of the central and eastern US for October 26-30, and shifted cooler over the eastern two-th ...

Core Insights - Natural gas prices in the US experienced a significant increase due to forecasts predicting hotter weather, which is expected to raise demand from electricity providers for air conditioning [1] - The US Energy Information Administration (EIA) has raised its forecast for natural gas production in 2025, indicating a slight increase in supply [2] - Despite high production levels, natural gas inventories have risen above market expectations, suggesting adequate supply in the market [3] Group 1: Natural Gas Prices and Demand - October natural gas prices closed up by 3.47% on Monday, reflecting a rally driven by warmer weather forecasts [1] - Forecasts indicate above-normal temperatures across most of the US from September 25-29, which is likely to increase natural gas demand for electricity generation [1] Group 2: Production and Supply Dynamics - The EIA has increased its 2025 natural gas production forecast by 0.2% to 106.63 billion cubic feet per day (bcf/day) [2] - Current US natural gas production is near record highs, with active drilling rigs at a two-year peak [2][4] - US dry gas production was reported at 108.7 bcf/day, a 7.0% year-over-year increase, while demand was at 71.8 bcf/day, up 2.0% year-over-year [2] Group 3: Inventory Levels and Market Sentiment - Natural gas inventories rose by 71 billion cubic feet (bcf) for the week ending September 5, exceeding market expectations and the five-year average [3] - As of September 5, natural gas inventories were down 1.3% year-over-year but 6.0% above the five-year seasonal average, indicating sufficient supply [3] - European gas storage was reported to be 80% full, compared to the five-year average of 87% for this time of year [3]

October Nymex natural gas (NGV25) on Friday closed up +0.007 (+0.24%). Oct nat-gas prices recovered from a 1.5-week low on Friday and posted modest gains as forecasts for late-summer US temperatures sparked short covering in nat-gas futures.  Forecaster Atmospheric G2 said Friday that forecasts shifted warmer in the South and mid-continent for September 17-21, which will boost nat-gas demand from electricity providers to power the increased air conditioning usage. More News from Barchart Nat-gas prices ...