Footing For Natural Gas Futures, Spot Prices Grows Increasingly ... - Natural Gas Intelligence
Footing For Natural Gas Futures, Spot Prices Grows Increasingly Shaky Amid Feeble Demand Outlook - Natural Gas Intelligence
Natural gas futures floundered for a third consecutive session on Wednesday, dragged lower by weaker demand, rebounding production and expectations for robust storage injections. The June Nymex gas futures contract settled at $2.170/MMBtu on Wednesday, down 4.4 cents day/day. July declined 5.7 cents to $2.360.
At A Glance:
- Prompt month sheds 4.4 cents
- Analysts see 50s Bcf storage increase
- Production rebounds day/day
The prompt month had dropped 19.6 cents over the course of trading Monday and Tuesday.
Fresh weakness in cash markets also factored into the Nymex futures losing streak. NGI’s Spot Gas National Avg. fell 17.5 cents on Wednesday to $1.845. It marked a second straight day of losses.
After slipping below the century mark early in the week on maintenance events...
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.