Latest News & Insights
The June contract was a bit volatile to the upside in its final two days of trading, rolling off Wednesday to settle at $3.04, a 4.6% gain. July took over as the prompt contract and continued to rise, closing out the shortened trading week at $3.29, up nearly 9%.
Ongoing Middle Eastern tensions, warming temperatures in the upcoming six to ten-day forecast, a modest 92 Bcf storage injection, and expectations for increasing LNG export volumes led to the bullish sentiment in the market. Today is also the official kick-off of the 2026 hurricane season, which NOAA has predicted to be lighter than normal. The curve is mixed to start off this morning - please reach out with your questions.
May Market Report
The May contract expired mildly higher on Tuesday to settle at $2.559. June took over and traded lower to start but rallied a bit as the week went on to close out Friday at $2.78, a gain over 3.6%. The summer was up 2.7% and the one- and two-year strips were up 1.6% and 1%, respectively.
The market has been largely trading sideways on mixed fundamentals. The EIA posted an injection of 79 Bcf, generally in line with expectations, but inventories are ahead of both the one- and five-year averages. Both LNG exports and production are off their highs, but that's largely due to seasonal maintenance. The weather has generally been a bit bearish but warmer temperatures are blanketing the West in upcoming forecasts. Crude topped the $100 mark again as tensions continue in the Middle East. Please reach out with any questions.
April Market Report
The April contract settled and expired on Friday at $3.095, which was unchanged week over week, but not after taking a wild ride to get there. The balance of the curve wasweaker overall.
The markets fell hard early in the week on expectations that the geopolitical tensions in the Middle East were easing. However, as the week progressed, attacks continued andagreement on a peace plan appeared to be more distant than originally thought. On the fundamental side, a higher than anticipated storage withdrawal of 54 Bcf provided supportas well. Warmer than normal temperatures blanket both East and West coasts, with normal to cooler weather in between.
March Market Report
Despite the cold weather in the Northeast to begin the week, the market floated lower and the March contract expired just under the $3.00 mark at $2.969. April took over as the prompt and was lower for the week by just over 4% and the back of the curve weakened as well.
However, the market is reacting differently this morning after the weekend joint military strikes on Iran by the U.S. and Israel, and Iran's response across the region. Crude oil prices are up 8% this morning as markets assess the impact on global supply. As for natural gas, weather is definitely a bearish indicator at present and the 52 Bcf storage withdrawal posting from the EIA is as well. However, markets are up to start the morning in reaction to the geopolitical events, and perhaps their impacts on LNG exports from the U.S. Our thoughts are with those in harm's way - please reach out with any questions.