News

Once Listless Natural Gas Futures Surge After 'Massive' Drop in Rig Count; Spot Prices Weaken - Natural Gas Intelligence

Natural Gas Intelligence · last updated

Once Listless Natural Gas Futures Surge After ‘Massive’ Drop in Rig Count; Spot Prices Weaken - Natural Gas Intelligence

After losses in the two previous sessions, natural gas futures flailed into Friday, losing ground early as forecasts pointed to weak weather-driven demand and supplies remained robust. But the prompt month bounced back in early afternoon trading after the latest Baker Hughes Co. (BKR) data showed natural gas-directed rigs dropped by 16 to 141.

At A Glance:

- Prompt month gains 7.6 cents
- Gas-directed rig count plummets
- Production holds above 100 Bcf/d

The June Nymex gas futures contract ultimately gained 7.6 cents day/day and settled at $2.266/MMBtu. It had climbed as much as 14 cents in afternoon trading. July rose 9.3 cents to $2.438.

Cash prices continued to tread lightly near seasonal lows as demand drivers eluded the physical market. NGI’s Spot Gas National Avg. slipped...

View full article

here today, more tomorrow

We’ve launched briefing.center with a focus on the press and media.

And we’ve added Citizen Cartwright, a daily quick-read news summary by veteran Washington journalist Linda Cartwright. We’ve also created a new voting rights knowledge center for Citizen Cartwright subscribers. (You can sign up for a dedicated morning email at citizencartwright.com.)

You can sign up here for full access to press and media and Citizen Cartwright on briefing.center.

You can use briefing.center as the center of your information management, or just one of your tools. We’re happy to discuss your information needs.

Sign up