Latest News & Insights
The NYMEX rebounded a bit this week with the September contract settling on Thursday at $2.907, a gain of 4.83%. The October contract took over as the prompt and slid a bit on Friday but was still up for the week 2.74% to close Friday at $2.888. The balance of the curve was slightly higher.
Warmer forecasts extending into September along with another lower-than-expected storage injection from the EIA of just 15 Bcf, vs. the low to mid 20's, were the major bullish drivers. Additionally, modest increases in LNG exports coming from the Freeport facility aided as well. Next Monday is Labor Day, so we will not be producing a report. Please reach out with your questions.
August Market Report
Despite heat domes and hot temperatures blanketing most of the U.S., the market slipped lower last week. The August contract expired on Wednesday at $2.725, down 5% in its final three days of trading. The new prompt September contract drifted lower as well, closing Friday at $2.747 with the back of the curve sliding also.
Warm temperatures and cooling demand have been strong, but the need for gas is being offset by strong output from renewables. Additionally, despite a lower-than-expected injection of 28 Bcf reported by the EIA this week, storage levels are in good shape and production levels continue to be at record highs. Additionally, reduced LNG production and exports are adding to the supply surplus. Please reach out with any questions.
July Market Report
The July contract expired on Friday at $3.231, just slightly down from the previous week, but a bumpy ride nonetheless. Similarly, the balance of the curve was slightly lower aswell.
To begin the week, there was mixed news on the weather, although a "heat-dome" is emerging over the Central U.S. and moving East slowly as we head into the holidayweekend. Both an increase in the rig counts and a higher-than-expected storage injection led to weakness, as well as some profit-taking heading into expiration. That weakeningtrend has spilled over into this morning to start out the week. We hope you all enjoy some time off later this week as we celebrate America 250! Thanks for your continued business.
June Market Report
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.