Natural Gas News – April 11, 2024
Natural Gas News – April 11, 2024
Natural Gas News: Higher Amid European Price Surge
U.S. natural gas futures are trading higher for a second session on Tuesday with traders eyeing higher prices in Europe. Concurrently, the U.S. weather forecast predicts mixed demand influences in the upcoming period. At 13:07 GMT, US Natural Gas is trading $1.894, up 0.050 or +2.71%. A noticeable 1% uplift in U.S. natural gas futures is primarily fueled by anticipated demand surges and a downturn in production activities. The stability of June’24 prices around the $2 level underlines a significant threshold in the market. The U.S. weather outlook indicates a lighter demand, with a potential spike around April 19-22 due to a shift to cooler weather. Following a drop to the lowest gas prices in over three years, the U.S. observes a reduction in its natural gas output, particularly in the Haynesville shale region.… For more info go to https://tinyurl.com/59nhupsw
Henry Hub Spot Gas Hits Lowest Since Early 1990s
Cash natural gas prices at the US benchmark Henry Hub sank to their lowest since the early 1990s in March 13 trading as mild weather and rising inventory levels keep the Gulf Coast market oversupplied. In mid-session trading, next-day gas prices at the Henry Hub were moving around $1.24/MMBtu, with even lower prices recorded at other Gulf Coast hub stretching from the Florida panhandle to the shores of South Texas, data from Intercontinental
Exchange showed. According to historical data from S&P Global Commodity Insights, cash prices at most Gulf Coast hubs March 13 were trading near lows last seen in the early 1990s. At the Henry Hub, prices were even lower than those recorded in 2020 when the global coronavirus pandemic fueled a fallout in US and international commodity prices. Across… For more info go to https://tinyurl.com/y3x6s9b2
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
