Articles tagged Hurricane Francine

Global natural gas prices continued to fall on Monday amid ample supplies and mild weather patterns.

Weekly natural gas cash prices ticked lower as a hurricane battered the Gulf Coast and milder temperatures loomed for more of the Lower 48.

Natural gas forward prices strengthened at the front of the curve over the Sept. 5-11 trading period as traders baked in crisp autumn air taking hold in the Northeast and a massive new pipeline relieving trapped supply in the Permian Basin.

Hurricane Francine had little impact on U.S. LNG export facilities when it made landfall Wednesday as a Category 2 storm in a remote part of Louisiana.

Natural gas futures treaded lightly early Thursday after Hurricane Francine made landfall as a Category 2 storm. Its fierce winds caused power outages, dropped temperatures and interrupted LNG activity. The storm also hindered production. An anemic inventory report amplified bullish supply trends and ultimately sent the futures market into rally mode.

Natural gas forward prices strengthened at the front of the curve over the Sept. 5-11 trading period as traders baked in crisp autumn air taking hold in the Northeast and a massive new pipeline relieving trapped supply in the Permian Basin.

Natural gas futures were higher with newfound support Thursday from the latest storage print, as the figure compared bullishly with historical averages and expectations, and signaled further tightening.

October Nymex natural gas futures were drifting early Thursday as the market awaited the latest storage data and assessed the damage from former Hurricane Francine, which smacked into Louisiana as a Category 2 storm Wednesday.

Natural gas futures advanced for a second session on Wednesday, with bulls betting that production declines ahead of Hurricane Francine’s landfall would offset the storm’s inevitable demand destroying impacts.

Natural gas futures were moving higher as the market looked beyond the near-term impacts of Category 1 Hurricane Francine to warmer weather and comparatively small storage injections easing end-of-season supply woes.