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Natural gas futures and options quick facts:
2/3/12 Natural gas futures prices sold off this week in spite of
the U.S. dollar continuing its slide. The USD is now down 3 full
basis points over the last few weeks which is helping to push
many commodity markets higher. Friday's strong jobs report is
also helping commodity prices strengthen. It also seems that bad
European Union headlines are having less affect on the markets
and the worst case may already be factored into many of these
markets. Unseasonably warm weather has underground supplies of
natural gas at record levels.
1/27/12 Natural gas futures prices are trading mostly higher
again this week. The bullish news was the weakening U.S. dollar
that continues its 2 week slide of about 3 full basis points
which helps push dollar denominated commodity markets higher.
The FOMC meeting left rates unchanged and opened the door for
more quantitative easing by the Federal Reserve Bank. European
sovereign debt issues and saber rattling from Iran seemed to
have little affect on the markets.
1/20/12 Natural gas futures prices dramatically lower this week
in spite of the recent influx of capital from hedge funds
and other large speculators into the commodity markets and
especially the soft sector pushed many commodity markets higher.
The recent successful debt auctions from Spain and France helped
stabilize the European Union for the near term and in turn
weaken the U.S. dollar. Natural gas prices continue to sell off
as burdensome supplies and lower demand continue to hurt prices.
1/6/12 Natural gas futures prices traded mostly down this week.
The U.S. dollar rose to new contract highs as concerns over
European banks pushed the Eurocurrency down to a 16 month low.
New tensions with Iran and its nuclear program has pushed
American and British aircraft carriers to enter the Persian Gulf
and the Straits of Hormuz and in turn pushed crude oil prices to
the highs.
12/23/11 Natural gas futures prices traded mostly sideways this
week while many other commodity markets rallied as the U.S.
dollar sold off from its contract highs in the thin volume
holiday trade that is typical for this week and next. Iran
tensions and possible sanctions pushed oil higher and positive
economic reports out of the U.S. and Europe also pushed
investors back into risk assets like stocks and commodities.
12/16/11 Natural gas futures prices sold off this week along
with most other commodity markets. The lack of an additional
quantitative easing announcement by Bernanke and the Federal
Reserve Bank at the FOMC meeting surprised some market
participants and pressured the markets. More bad news out of
Europe and very positive news from the U.S. economy pushed more
assets in to the U.S. dollar as it hit another high kept the
stock markets trading down to sideways as well.
12/9/11 Natural gas futures prices traded mostly down this week
again as most of the commodity and stock markets took their
directional cues from the European headlines again. In other
words, bad news out of the European Union pressured the markets
and good news helped push markets higher. The week ended on a
positive note as the European Union summit yielded ideas of
tightening anti-deficit rules and punishments for member
countries. This heartened the markets as it symbolized the idea
that forced accountability of member nations may curb government
spending.
12/2/11 Natural gas futures prices traded sideways this week
along as many other commodity markets rallied. Crude oil broke
through $100 a barrel as Iranian students broke into the United
Kingdon embassy in Tehran. Positive job growth in the U.S. and
other encouraging economic data helped many commodities push
higher. Also adding to the bullish tone was stability in Europe
as a concerted effort by 5 central banks to add liquidity to
Europe eased some fears and a sell off in the U.S. dollar also
helped commodity prices.
11/25/11 Natural gas futures prices traded mostly higher in
spite of the majority of the commodity markets selling off. The
U.S. dollar index rallied almost to its October 4th high which
is coincidentally when many commodity markets' made their recent
contract lows. The recent German bond auction was a failure and
couldn't managed to sell all of the bonds issued as more
problems out of Italy and Greece hurt the European Union as
investors flee to cash and the U.S. treasury markets.
11/18/11 Natural gas futures prices traded mostly down this week
as more problems came out of the European Union suppressing most
commodity rally attempts. The talk of Italy potentially
defaulting on its debt and Italian bond yields breaching the
critical 7% area hindered most bullish support for most markets.
The European Central Bank chose to purchase Italian and Spanish
bonds to support the markets and prove that they would support
the teetering European Union and its weak links from default.
11/4/11 Natural gas futures prices traded mostly sideways this
week as more uncertainty about Greek and Italian solvency added
to European Union woes. Also adding to the uncertainty was the
bankruptcy declaration by MF Global who supposedly was
overleveraged in European high risk assets and it was a very bad
bet. This uncertainty pushed assets towards the U.S. dollar and
U.S. treasuries pushing both higher on the week. The strong
dollar often depresses dollar denominated assets like
commodities.
10/14/11 Natural gas futures prices sold off again this week in
spite of the positive rhetoric out of the European Union and the
idea that the EU has plenty of assets to back up its support of
failing economys like Greece, Spain and Italy has led investors
back into stocks and commodities. The U.S. dollar continues its
fall which is also helping out the dollar demoninated commodity
markets become more bullish.
10/7/11 Natural gas futures prices continue to fall to the
contract lows. The market moving news of the week was Moodys'
cutting the senior debt and deposit ratings of 12 UK financial
institutions while at the same time the European Commission put
together a possible coordinated European bank recapitalization
plan to stabilize weak links in the financial chain like Greece
and Italy. Market volatility continues to be extreme in stock
and commodity futures contracts.
9/30/11 Natural gas futures prices came down again this week
along with most other commodity markets as more problems with
Greece and its potential default to its bond holders and other
European woes has led to an extremely volatile trading
environment for stocks and commodity investors. The U.S. dollar
is also near its recent highs which is also hindering the bulls
for now.
9/23/11 Natural gas futures prices sold off this week along with
just about every other commodity as more problems out of the
European Union and Federal Reserve Bank chairman Ben Bernanke
saying that the U.S. economy was probably going to slip back
into a recession. This fear of a double dip global recession
sent investors fleeing out of the stock and commodity markets
around the globe and strengthened the U.S. dollar significantly.
9/16/11 Natural gas futures prices traded mostly sideways to
down this week along with most other commodity contracts as more
European soveriegn debt problems (Greece) and more bad economic
reports out of the United States have come together to add more
uncertainty about the world's economic future. The weakening
U.S. dollar did little to prop up commodity prices. Volatility
can be extreme at times as the market reacts to economic
reports.
9/1/11 Natural gas futures prices rallied by about 30 cents per
BTu this week in spite of the strengthening U.S. dollar and the
idea that the Federal Reserve Bank is thinking about another
round of quantitative easing to stimulate the economy as
interest rates should remain low until 2013 if not longer.
8/19/11 Natural gas futures prices had an extremely volatile
week along with most of the rest of the commodity markets. The
stock market indices were quite volatile and affected most other
asset classes as European Union problems resurfaced again and
put many investors in doubt about future U.S. and global growth
prospects over the near term.
8/5/11 Natural gas futures prices have been mostly down this
week. This week's main stories are about Europe's continued
problems and the foreseeable end of the European Union as the
PIIGS continue to harm. A slower global economy and the 10%
correction in the U.S. stock markets have many commodity
investors heading for the sidelines.
7/29/11 Natural gas futures prices have been trading down this
week, in spite of the extremely hot weather, as the United
States faces a political impasse on raising the debt ceiling.
This has led to talk about the U.S. losing its AAA credit rating
and potentially defaulting on its debt obligations. The U.S.
dollar is trading sideways near its lows probably because things
seem to be even worse in Europe. Many of the other commodity
markets have also been trading sideways for the most part.
7/15/11 Natural gas futures prices rallied about 40 cents this
week as Ben Bernanke left the door open for QE3 or printing more
U.S. dollars to be used for buying treasuries to help buoy the
economy. Also the European Bank Authority said 8 out of 90 banks
failed their stress tests this week. 5 were from Spain, 2 from
Greece and one from Austria. The U.S. dollar sold off this week.
7/1/11 Natural gas futures prices rallied by about 10 this week
as the U.S. dollar lost about 2 basis points once the markets
decided that the greek soveriegn debt issues would be resolved
for the short term in spite of the agreement that most analyst
share that Greece is doomed to be bankrupt sooner or later. Many
commodity sectors look to be selling off such as the precious
metals, energies and grains seem to be trending sideways to down
over the near term.
6/24/11 Natural gas futures prices are trading down by about 20
cents per Btu this week in spite of the collapse in crude oil
prices. The Obama administration decided to release 30 million
barrels of oil from the strategic petroleum reserve to help
pressure energy prices. The International Energy Agency plans to
add 2 million barrels a day from non-OPEC reserves. Also
pressuring the markets is the idea that Greece will default
sooner or later and may be released from the European Union in
order to strengthen the Euro. Reports of slower growth out of
India and China is also pressuring commodity prices in general.
6/10/11 Natural gas futures prices are having trouble at the $5
resistence level and seem to be about to get close but then sell
off again. The cooling season will be in full force over the
next couple of months and utility plants may be able to use up
some of the burdensome supplies.
6/3/11 Natural gas futures prices rallied this week in spite of
quite a bit of bad U.S. economic data in manufacturing, housing
and jobs has consumer confidence falling along with the stock
market and most of the commodity markets. Many economists fear a
soft patch in the economy this summer and a slowing of Asian
demand for many commodities as attempts to battle inflation by
raising rates are slowing growth.
5/27/11 Natural gas futures prices are one of the few
commodities not trading sideways along with most of the other
commodity markets as large speculators such as hedge funds seem
to be exiting the riskier assets. Natural gas prices rose about
40 cents this week. The lack of aggressive buying and selling of
these futures contracts has caused many of them to trade
sideways in small trading ranges. The recent 3 cent rally in the
US dollar should have been more of a catalyst pushing commodity
prices higher but this has largely been ignored. This is most
likely caused by the perception that China's economy may be
slowing down as well.
5/20/11 Natural gas futures prices sold off again this week as
the US dollar continues to strengthen and investors seem to be
heading for the exit when it comes to their riskier assets and
are getting in to cash and cash equivalents. The volatility in
many markets has dropped considerably as some like silver, gold,
crude oil and cotton are consolidating sideways. This in turn is
bringing option premiums back down to more normal levels for
some markets as this volatility premium is taken out of the
options.
5/13/11 Natural gas futures prices sold off again this week as
the market digests the idea that Greece may default on its debt
just a year after this same predicament that forced Germany to
infuse money into the system. This news crushed the Euro
Currency and pushed the US dollar higher which in turn hurt most
commodity prices and pushed volatility much higher. Quantitative
easing is set to end this summer which might be why the stock
market is soft in spite of energy prices coming down violently.
Option premiums are very high for most commodities because of
the recent volatility.
5/6/11 Natural gas futures prices sold off this week along with
most of the other commodity markets. A cocktail of bearish
happenings have been a catalyst initiating a huge exodus out of
risk assets to reduce investors' risk exposure. The ECB
president Trichet let the market know that a ECB rate hike is
not a done deal in July which in turn pushed the US dollar up a
full basis point. Also hitting the markets were the CME group's
increase in silver margin requirements which totalled 5
increases over the last 2 weeks which pushed weak longs out of
the market and caused silver to correct by about 25% making it
the worst sell off since the early 1980's. Lastly, many US
economic reports have been weaker than expected which is
weakening the confidence of a strong economic recovery in the US
over the near term.
4/29/11 Natural gas futures prices rallied about 24 cents this
week. The FOMC meeting left Bernanke signalling that QE 3 would
not happen and QE 2 would end in June and that interest rates
will probably stay on hold for a while leaving the US dollar to
get crushed as other countries plan on continued interest rates
hikes to fight inflation and attract foreign assets to the
stronger currencies.
4/22/11 Natural gas futures prices rallied about 30 cents this
week along with most of the other commodities as the US dollar
hit levels not seen since the "Great Recession" summer of 2008.
The market seems to be factoring in an unwillingness by the
United States' federal reserve bank to raise interest rates in
spite of the fact that many other economies like Australia,
China and the European Union are raising interest rates. This
rising interest rate environment draws money away from US
investments into stronger currency assets.
4/8/11 Natural gas futures prices sold off by about 40 cents
this week bucking the uptrends of many other commodity markets
as the bulls seem to have control for now. Gold hit an all time
high and crude oil broke through $110 a barrel pulling other
commodities with them. The US dollar coincidentally hit new
contract lows this week as well. The new earthquake in Japan
seems to be a non-event this time for the markets.
4/1/11 Natural gas futures prices are coming down this week as
cold weather issues seem to be gone for now and the cooling
season has not yet kicked in. The U.S. has ample supplies for
the coming summer. Natural gas option premiums are high.
3/25/11 Natural gas futures prices were mostly higher this week
based on the fact that the risk trades like commodities were the
weekly theme. The Japan nuclear scare seems to have been averted
for the most part and the markets factored in a worst case
scenario which caused the massive sell off last week. The
tensions in the Middle East seem to be growing which pushed
crude oil prices over the $105 level. The US dollar has been
sliding for most of the month of March which is also helping
push most commodity futures prices higher.
3/18/11 Natural gas futures prices came down this week along
with most of the commodity and stock markets as investors try to
figure out what affects the tsunami and its destruction of the
cities and nuclear plants in Japan will have over the short,
medium and long terms. Japan's economy is the 3rd largest in the
world and demand destruction for some commodities may occur.
3/11/11 Natural gas futures prices have been trending down after
a volatile few weeks in the commodity markets. Geopolitical
issues in the Middle East put the bias in the commodity markets
in the hands of the bulls for the last few weeks but the buy the
rumor sell the fact side of the equation and China's first trade
deficit in many years seems to be behind the massive liquidation
of most of the commodity markets.
3/4/11 Natural gas futures prices sold off again this week to
contract lows and in spite of the fact of the increasing
violence and ubiquitous unrest in northern Africa and the middle
east. Egyptians got rid of their despot. Libya is trying along
with Bahrain, Tunisia and others which is pushing crude oil
prices sky high again. Higher oil prices are very inflationary
and helps push the bias of all dollar denominated commodities
higher except it would seem natural gas.
2/11/11 Natural gas futures prices continue to sell off in spite
of the recent strength in the rest of the energy market. The
uprising in Egypt by the people to oust the long time president
out of power has turned violent and caused many commodity
markets to become very volatile because of the belief that
turmoil may spread to other Muslim countries near Egypt. On
February 10th the ousted president appointed his vice president
as ruler much to the dismay of the protesters.
2/4/11 Natural gas futures prices buck the upward pressure on
commodity prices this week in spite of worry about the Egyptian
uprising spreading to other Muslim countries had the markets on
edge. In spite of the Suez canal being only responsible for
about 3% of the oil shipping, the oil markets rallied and pulled
many other markets higher as well. The idea that inflation and
especially food and energy inflation is starting to get traction
in the media and may have a significant impact of the economy
soon.
1/28/11 Natural gas futures prices sold off by about 50 cents
this week as the horrible snow storms that blew threw many
natural gas heated areas has been factored in and the supplies
did not go down as much as anticipated. Natural gas option
premiums are high.
1/21/11 Natural gas futures prices bucked the trend of most of
the other commodity markets as they sold off violently in
anticipation that China will step up its efforts to quell
inflation by making it harder to get money out of its main banks
by increasing reserve requirements and raising interest rates.
1/7/11 Natural gas futures prices are coming down again this
week as it looks like most of the US will get a reprieve from
the well below normal cold that has affected many parts of the
US since Christmas. Moderating temperatures and sufficient
supplies gas are keeping a lid on rallies. The most recent DOE
report showed underground supplies 1.5% below a year ago levels
and the gas rig count went up 21% last year.
12/24/10 Natural gas futures prices traded sideways this week.
The week before and after Christmas are notoriously thinly
traded and the markets can have very volatile price swings
because of the lack of trading volume. Many money managers call
it quits for the year in early December to lock in before year
end.
12/17/10 Natural gas futures were unable to hold the recent
rally caused by extremely cold winter weather in many of the
natural gas consuming regions of the United States. More cold is
expected to hit these areas again within days but the market
seems to have already factored it in. Buy the rumor sell the
fact.
12/3/10 Natural gas futures have been running this week as cold
temperatures are hitting many gas using areas as extra heating
needs are occurring. This recent demand may use up those
burdensome supplies of underground gas. Natural gas options
volatility premium is not so bad right now.
11/19/10 Natural gas futures rallied this week as the cheap
prices are making gas companies shut down rigs in the Gulf of
Mexico and cold weather is finally starting to use up supplies
for heating purposes by utility plants.
11/12/10 Natural gas futures prices are correcting significantly
after the huge run up in prices. The most prevelant perception
is that the global recovery may be stalling based on worse than
expected economic reports as of late and the idea that China
will hike interest rates to battle inflation which should push
commodities lower.
11/5/10 Natural gas futures prices did not move up in spite of
the FOMC meeting yielding more quantitative easing by the Fed.
Printing more money should lead to high inflation or
hyperinflation for the next few years. Especially when you
consider the fact that the Fed bought so much of the toxic real
estate assets from Freddie Mac and Fannie Mae. It makes sense
that they won't raise rates to fight inflation because it would
cost the government billions of dollars.
10/22/10 Natural gas futures prices are still coming down this
week as the US Dollar tries to strengthen versus other
currencies and commodities in general seem to be taking a
breather from the recent bull market rally. Natural gas options
premiums are high.
10/15/10 Natural gas futures prices are still near the lows as
demand is stagnant until some below average cold temperatures
come through the natural gas consuming parts of the US. Natural
gas options volatility premiums are coming down.
10/8/10 Natural gas futures prices hit another low this week as
no storm threats in the Gulf of Mexico during the peak month of
September and mild temperatures across much of the US is hurting
demand for natural gas generated power. The trend looks to be
down for now.
9/24/10 Natural gas futures prices are still near the contract
lows as the tropical disturbances in the Gulf of Mexico have not
materialized into a problem so far and mild weather has kept
underground supplies ample over the near term.
9/17/10 Natural gas futures prices rallied off of the recent
lows as tropical disturbances in the Gulf of Mexico may cause
gas platforms to be evacuated. The new storm may come towards
New Orleans within the next week. Natural gas options have very
high premiums right now.
9/10/10 Natural gas futures prices are still near the contract
lows as a lack of any tropical storms in key Gulf of Mexico
production regions, normal temperatures expected through Sep 16
in consumption regions and mixed US economic data are all
keeping a lid an rally attempts for now.
8/20/10 Natural gas futures prices are hitting contract lows
this week as underground supplies of natural gas are still
burdensome and the recent extreme heat did not cut into those
supplies significantly enough to cause are rally. No potential
storms in the Gulf of Mexico are also pressuring prices.
8/13/10 Natural gas futures are trading sideways near the lows
as a lack of any storm threats in the Gulf of Mexico and
burdensome supplies seem to have the bulls on the sidelines for
now. Natural gas option premiums are relatively high.
8/6/10 Natural gas futures prices sold off from the recent rally
in spite of record setting hot temperatures in many parts of the
country that use natural gas to produce electricity. Air
conditioning uses large amounts of electricity.
8/2/10 Natural gas futures prices have been rallying lately as
above average temperatures in many of the natural gas consuming
regions is causing higher air conditioner usage and therefore
higher electricity consumption.
7/24/10 Natural gas futures prices are trading sideways as no
hurricane issues have necessitated evacuations of any gas
platforms and the extreme heat thoughout the midwest did not
seem to bring the bulls to market.
7/10/10 Natural gas futures prices sold off this week in spite
of triple digit temperatures across much of the southern and
central US this week. These higher temperatures usually lead to
higher cooling needs and therefore higher electricity production
by the various power plants who use natural gas to produce the
electricity.
7/2/10 Natural gas futures prices saw pressure this week along
with the rest of the energy sector as the potential for a double
dip recession in the United States and the idea that the global
economy is slowing is hurting commodity prices.
6/25/10 Natural gas futures prices sold off this week in spite
of the recent DOE report that showed underground supplies up 81
billion cubic feet putting the total at 2.624 trillion cubic
feet which is down slightly from a year ago levels. Hurricane
season has begun as well.
6/11/10 Natural gas futures prices rallied again this week as
rig counts are down in the Gulf of Mexico and hot weather may
make those air conditioners go on in the natural gas power
generation areas of the US for the summer. The recent DOE report
showed a build in underground supplies of 99 billion cubic feet
to 2.456 trillion cubic feet. Supplies are now up 1% from a year
ago.
6/4/10 Natural gas futures prices rallied this week to an 11
week high. The most recent DOE report showed an 88 trillion
cubic feet increase in underground supplies. This puts supplies
up 2% from a year ago.
5/28/10 Natural gas futures prices rallied this week to the top
of the recent price range in spite of ample underground supplies
and the cooling and hurricane season is just now starting.
5/21/10 Natural gas futures prices came down with the rest of
the commodity markets this week as the European problems
stemming from Greece and the other PIIGS are expected to hurt
demand for many commodities. Investors seem to be choosing cash
over stocks and commodities for now. The recent DOE report
showed underground supplies up 76 billion cubic feet which is up
4% from a year ago.
5/14/10 Natural gas futures rallied to a 2 month high this week.
The recent DOE report showed underground supplies at 1.995
trillion cubic feet which puts supplies up 5% from last year and
up 18% for the 5 year average.
5/7/10 Natural gas futures prices are still in a downtrend this
week as many commodities are being pressured by the Greece
problems and the decrease in investors' risk appetite. Investors
are pushing assets towards safe haven investments such as gold,
US Dollars and US Treasuries. The recent DOE report showed a
build in underground supplies of 83 billion cubic feet putting
supplies 5% above a year ago levels.
4/25/10 Natural gas futures prices rallied this week as the rig
count went down. Prices hit a one week high in spite of the
recent DOE report showing a build of 73 billion cubic feet
putting underground supplies up 5.5% from a year ago.
4/16/10 Natural gas futures prices are trading sideways near the
recent lows. The most recent DOE report showed a build in
underground supplies of 87 billion cubic feet with puts supplies
up 4% from a year ago levels.
4/9/10 Natural gas futures prices hit another low this week in
spite of the fact that underground supplies are still slightly
lower than last year. The recent DOE report showed a build in
underground supplies of 31 billion cubic feet.
3/27/10 Natural gas futures prices are still coming down in
spite of the fact that this week's DOE report showed the first
build in underground supplies this year. Supplies are now down
2% from a year ago. Natural gas hit a new low for the year this
week.
2/26/10 Natural gas futures prices are coming down this week in
spite of the coldest winter in 9 years and the recent DOE report
that showed underground supplies down 172 billion cubic feet.
This puts supplies down 3% from a year ago. Natural gas option
premiums are high.
2/12/10 Natural gas futures prices are steady this week as the
news that Europe will help Greece with its financial
problems supported most commodity prices because it weakened the
US Dollar. Natural gas prices did not rally however in spite of
the recent record snowfall in many parts of the US.
2/5/10 Natural gas futures prices are managing to hold onto
their recent price levels as most of the rest of the commodity
markets collapse because of the recent strength of the US
Dollar. The recent DOE report showed underground supplies down
115 billion cubic feet to 2.406 trillion cubic feet. This is
still up 9% from a year ago levels.
1/30/10 Natural gas futures prices are managing to hold their
prices levels as most of the rest of the commodity complex
continues to sell off. The recent National Weather Service 6-10
day forecast calls for below average temperatures for most of
the United States. The recent DOE report showed a decline in
underground supplies of 86 billion cubic feet bring the total to
2.521 trillion cubic feet. Supplies are now up 5% from a year
ago.
1/22/10 Natural gas futures managed to hold its price levels
this week unlike most of the other commodity markets as the rise
in the US Dollar and the idea that China is trying to restrain
its economy by raising rates and increasing the amount of
capital reserves banks must keep pushed many commodities down.
1/15/10 Natural gas futures prices stabilized this week in spite
of the warmer temperatures around this the United States. The
recent DOE report showed a draw in underground gas supplies of
266 billion cubic feet to 2.852. Natural gas option premiums are
high.
1/8/10 Natural gas futures prices rallied again this week as
extreme cold temperatures grip most of the US natural gas using
areas this week. The recent DOE report showed underground
supplies down 153 billion cubic feet and supplies are now up 10%
from a year ago.
1/1/10 Natural gas futures prices have rallied quite a bit
recently as the National Weather Service predict that below
average temperatures will affect most of the natural gas using
portions of the US for the next 6 to 10 days. The recent DOE
report showed underground supplies up 13% from a year ago.
Natural gas options premiums are high.
12/11/09 Natural gas futures prices rallied this week as the
Arctic blast caused blizzard conditions though out much of the
upper US this week. This cold weather caused the first drawdown
in underground supplies this year. The DOE report showed
supplies up 14% from a year ago.
12/4/09 Natural gas futures hit another contract low as the DOE
estimates that underground supplies are now up 14% from a year
ago and in spite of the 6-10 day weather forecast for below
normal temperatures though out the US.
11/28/09 Natural gas futures prices rallied as the weather
forecast for below normal temperatures for many natural gas
using parts of the US helped push prices higher from the recent
lows. The recent DOE report showed underground gas supplies up
12% from a year ago. Natural gas option premiums are high.
11/20/09 Natural gas futures prices sold off again near contract
lows as mild temperatures still preside over most of the natural
gas using areas of the country and excessive underground
supplies still don't seem to be lessening. The recent DOE report
showed underground supplies of natural gas up 10% from a year
ago.
11/13/09 Natural gas futures prices are near contract lows as
the DOE recent underground inventory report showed an increase
of 25 billion cubic feet to 3,463 trillion cubic feet. This is
10% above a year ago levels.
11/6/09 Natural gas futures prices sold off to the recent
support levels. The DOE report showed underground supplies now
up 11% from a year ago as cold weather has yet to put a dent in
the burdensome supplies of natural gas.
10/24/09 Natural gas futures sold off this week as the US Dollar
bounced a little and the recent DOE report showed underground
supplies up again and the storage levels are now 12% above a
year ago levels.
10/12/09 Natural gas futures prices are rallying as the US
Dollar falls to 12 month lows as rumors of countries moving away
from the US Dollar as a reserve currency pressures prices. The
recent DOE report showed underground supplies are now down 15%
from a year ago.
9/25/09 Natural gas futures prices rallied again this week in
spite of the recent bounce in the US Dollar and the DOE report
showing that underground supplies are now up 17% from a year
ago. The heating season is right around the corner and could use
up some of the burdensome supplies.
9/18/09 Natural gas futures prices rallied again this week as
the winter demand season may begin to eat into the burdensome
supplies. The recent DOE report showed underground supplies up
17% from a year ago and up 16% from the 5 year average.
9/11/09 Natural gas futures prices rallied this week as the
extreme oversold condition of the market led to a short covering
rally as the most recent DOE report showed less of a build in
underground supplies than expected. Natural gas option premiums
are high.
9/4/09 Natural gas futures price are near contract lows this
week as the burdensome supplies mix with mild temperatures and a
lack of any hurricanes in the Gulf of Mexico to leave the bears
in control of the gas market. Natural gas option premiums are
high.
8/21/09 Natural gas futures prices sold off to a new contract
low following the DOE report that underground supplies are now
21% above last year's levels. The relatively mild summer is not
using much supply for now. Natural gas option premiums are high.
8/7/09 Natural gas futures prices are finding strength along
with many other commodities this week as the perception of an
improving global economy and the weakening US Dollar are helping
push prices. Natural gas option premiums are high.
7/31/09 Natural gas futures prices are still near the lows in
spite of the recent short covering rally. Underground supplies
are up 23% from a year ago and up 18% over the 5 year average.
Recent EIA numbers predict that demand is down 8% and the rig
count is down 60% from a year ago. Natural gas option premiums
are high.
7/20/09 Natural gas futures prices are still near the lows as
the recent DOE report showed underground supplies are now up 26%
from a year ago. The recent rally is being called a short
covering rally. Natural gas option premiums are high.
7/10/09 Natural gas futures prices hit a contract low as the DOE
report showed underground supplies up 27% from a year ago and
temperate weather has not increased demand in natural gas using
areas of the country. Natural gas option premiums are high.
7/4/09 Natural gas futures prices are still coming down as mild
temperatures and underground supplies being up 29% from last
year. Natural gas option premiums are high.
6/21/09 Natural gas futures are still selling off as the short
covering rally fades and underground supplies continue to
increase. The most recent DOE estimate is a 30% increase from
last year and 22% above the 5 year average. Natural gas option
premiums are high.
6/5/09 Natural gas futures prices are still low in spite of the
beginning of the hurricane season and the cooling season. The
recent DOE report showed natural gas supplies up 31% from a year
ago and up 22% from the 5 year average. Natural gas option
premiums are high.
5/30/09 Natural gas futures prices are still low as demand is
lackluster and supplies are more than enough to handle the
cooling season. Natural gas option premiums are high.
5/22/09 Natural gas futures prices are still falling as a lack
of demand is causing huge supply issues. The recent DOE report
showed underground stockpiles up 22% above the 5 year average
and up 32% from last year. Natural gas option premiums are high.
5/15/09 Natural gas futures are above the $4 level again in
spite of the recent DOE report that showed underground supplies
up 33% from a year ago levels. Natural gas option premiums are
high.
5/8/09 Natural gas futures prices are finally showing some life
in spite of the recent DOE report that showed underground
supplies up 34% above year ago levels and up 23% above the 5
year average. Natural gas option premiums are high.
4/30/09 Natural gas futures prices are still coming down as
burdensome supplies are being met by less demand. Natural gas
option premiums are high.
4/23/09 Natural gas futures prices are still near the contract
lows and the DOE report estimates that natural gas prices will
average about $4.24 this year. Natural gas option premiums are
high.
4/10/09 Natural gas futures prices sold off to a contract low
this week as weak demand and ample supplies are holding prices
down. Natural gas option premiums are high.
3/27/09 Natural gas futures prices sold off this week as the DOE
report showed underground supplies of natural gas up 29% from a
year ago. Natural gas option premiums are high.
3/20/09 Natural gas futures prices rallied 50 cents this week as
inflation may replace the worst deflationary cycle since the
Great Depression. The recent move by the Fed to print a trillion
dollars and use them to buy treasuries significantly decreased
the value of the US Dollar this week. Natural gas option
premiums are high.
3/13/09 Natural gas futures prices are still selling off as
demand is down and supplies are still burdensome. Natural gas
option premiums are high.
3/7/09 Natural gas futures prices sold off again this week as
the DOE report showed supplies up 15% from a year ago and up 14%
above the 5 year average. Natural gas option premiums are high.
2/27/09 Natural gas futures prices sold off to near 6 year lows
this week as overabundant supplies and weak demand pressured
prices. The DOE estimates that natural gas supplies are up 14%
from a year ago and 8.4% above the 5 year average. Natural gas
prices are high.
2/13/09 Natural gas futures prices are still holding on to the
downtrend as cold weather related use could not prop up prices
by using up the burdensome underground supplies. Natural gas
option premiums are high.
2/6/09 Natural gas futures prices are still coming down in spite
of recent cold weather using up supplies. The underground
supplies of natural gas are up 3% from a year ago and above the
5 year average. Natural gas premiums are high.
1/30/09 Natural gas futures prices are still in a steep
downtrend as the underground supplies seem to be adequate for
any more harsh weather concerns throughout the areas of the US
where natural gas is primarily used. Natural gas option premiums
are high.
1/16/09 Natural gas futures are at contract lows in spite of the
frigid temperatures in many parts of the US. The DOE estimates
that underground supplies are up 1% from a year ago and up 3%
from the 5 year average. Natural gas option premiums are high.
1/10/09 Natural gas futures prices are still near the lows as
temperate US weather has been dominating many parts of the US.
Natural gas option premiums are high.
12/27/08 Natural gas futures rallied this week in thin market
trades and extremely cold weather in natural gas using regions
of the US. Natural gas option premiums are high.
12/19/08 Natural gas futures have been falling this week as a
lack of industrial demand and the weakening energy complex have
pressured prices. Underground supplies are now down 1% from a
year ago. Natural gas option premiums are high.
12/12/08 Natural gas futures are near their lows in spite of the
rally in the energy markets this week. The DOE expects natural
gas prices to average $6.25 in 2009 as underground supplies are
plentiful and demand is light. Natural gas option premiums are
high.
12/05/08 Natural gas futures hit their lowest price levels in 3
years as demand wanes. Natural gas option premiums are high.
11/30/08 Natural gas futures came down this week as warm
temperatures cover most of the US. Natural gas option premiums
are high.
11/21/08 Natural gas futures are still coming down. The most
recent DOE report showed underground supplies up 16 billion
cubic feet and supplies are down 1.4% from a year ago. Natural
gas option premiums are high.
11/7/08 Natural gas futures prices are still selling off as cold
weather has not yet begun to impact supplies. The DOE reported
that underground supplies were up 12 billion cubic feet and the
supplies are now down 4% from last year and up 2% of the five
year average. Natural gas option premiums are high.
11/1/08 Natural gas futures prices are coming down again. The
DOE estimated a 46 billion cubic feet increase in underground
supplies of natural gas putting current supplies 3% below last
year and up 3% from the 5 year average. Natural gas futures
prices are now down 50% in the past 4 months. Natural gas option
premiums are high.
10/24/08 Natural gas futures prices are still falling with the
rest of the energy sector. The massive amounts of deleveraging
of the stocks and commodity markets are pressuring prices.
Prices have fallen nearly $8 from the highs. The DOE says
that underground supplies of natural gas are now 2% below the 1
year average and 3% above the 5 year average. Natural gas option
premiums are high.
10/10/08 Natural gas futures are still coming down with the rest
of the energy sector. The DOE reported that underground
inventories rose by 88 billion cubic feet and supplies are now
down 4% from a year ago and up 2% of the 5 year average. Natural
gas option premiums are high.
10/6/08 Natural gas futures are falling below $7. Natural gas
supplies are higher than the 5 year average and the slowing
economy makes the supplies plentiful. Natural gas option
premiums are high.
9/26/08 Natural gas futures are range bound this week as the DOE
report showed an increase in underground supplies of 51 billion
cubic feet which puts supplies down 5% from a year ago and up 1%
from the 5 year average. Natural gas option premiums are high.
9/19/08 Natural gas futures sold off as hurricane Ike only
damaged 10 oil and gas platforms and the DOE reported that
underground supplies are now 5% below a year ago and up 2% from
the 5 year average. Natural gas option premiums are high.
9/12/08 Natural gas futures rose as Hurricane Ike slams into
Houston, TX. The DOE reported that underground supplies are down
5% from last year and up 3% from the 5 year average. Natural gas
option premiums are high.
9/5/08 Natural gas futures fell this week as Hurricane Gustav
did not cause any damage to the platforms and infrastructure.
The DOE reported that supplies are down 5% from a year ago and
up 4% over the 5 year average. Natural gas option premiums are
high.
8/29/08 Natural gas futures rallied because of the threat of
Hurricane Gustav potentially hitting near Texas and Louisiana.
The Independence Hub produces over 800 million cubic feet a day.
Tempering prices is the news that new methods of extracting
natural gas may be the cause of the extra supplies in the
pipelines. The DOE reported that natural gas supplies were up
102 billion feet putting supplies down 7% from a year ago and up
3% from the 5 year average. Natural gas option premiums are
high.
8/22/08 Natural gas future prices are still falling. The recent
DOE report about the supplies of underground natural gas showed
supplies down 9% from a year ago and 1% above the 5 year
average. Natural gas option premiums are high.
8/15/08 Natural gas futures prices are still falling based on
slack demand and the overall weakness in the commodity markets.
The DOE report showed supplies up 50 billion cubic feet making
supplies down 11% from a year ago and slightly below the 5 year
average. Natural gas option premiums are high.
8/8/08 Natural gas futures prices have fallen by around $5 in
the last couple of months. The DOE says that underground
supplies were up 56 billion cubic feet last week and are 12%
below last year's levels. Natural gas option premiums are high.
7/25/08 Natural gas futures prices collapsed again this week
based on lack of damage caused by hurricane Dolly and in spite
of supplies being under last year by 13% and 1% below the five
year average. Natural gas option premiums are high.
7/18/08 Natural gas futures prices collapsed this week in the
wake of the broad based commodity sell off in crude oil. The DOE
estimated that supplies are down 14% from a year ago and 2%
below the 5 year average. Natural gas option premiums are high.
7/11/08 Natural gas futures prices sold off this week in spite
of above average temperatures and a drawdown in underground
supplies to 15% below a year ago and 3% below the 5 year
average. Natural gas option premiums are high.
7/4/08 Natural gas futures prices are above $13 in spite of a
build in underground natural gas supplies this week. Natural gas
option premiums are high.
6/27/08 Natural gas futures are above $13 again because the DOE
says that supplies are down 16% from a year ago and down 3%
below the 5 year average. Natural gas option premiums are high.
6/20/08 Natural gas future prices rallied to
new contract highs this week because of 90 degree days in the
south and the DOE report that supplies are now down 16% from a
year ago and down 3% from the 5 year average. Natural gas
options premiums are high.
6/13/08 Natural gas futures prices rallied
to contract highs again this week based on draw downs in
supplies and hot weather in the mid West. Natural gas futures
prices are nearing $13. Natural gas option premiums are very
high.
6/6/08 Natural gas futures prices rallied to
contract highs this week based on supplies being down 15% from a
year ago and the strength of the other energy markets. The heat
wave in the mid West is also helping prices. Natural gas option
premiums are very high.
5/30/08 Natural gas futures prices fell this
week following crude oil lower. The DOE report showed natural
gas supplies are down 16% from a year ago and below the 5 year
average. Natural gas option premiums are high.
5/23/08 Natural gas futures prices rallied
to another contract high this week to break the $12 price level.
The DOE reports that underground supplies of natural gas are
down 16% from a year ago and below the 5 year average. Natural
gas option premiums are very high.
5/15/08 Natural gas futures prices sold off
from contract highs. The DOE estimates that natural gas
inventories are down 16% from a year ago and slightly above the
5 year average. Natural gas option premiums are high.
5/9/08 Natural gas futures rallied to their
contract high this week as the DOE estimates that underground
supplies are down 17% from a year ago. The cooling and hurricane
season is coming soon. Natural gas option premiums are very
high.
5/1/08 Natural gas futures prices sold off
from their contract highs this week following crude oil down.
The DOE says underground supplies are down 16% from last year
and the hurricane and cooling season is right around the corner.
Natural gas option premiums are very high.
4/25/08 Natural gas futures prices hit
another contract high this week as its ascent nears the $11.50
price range. The DOE reported this week that underground
supplies of natural gas are down 18% from a year ago and 2%
below the 5 year average. The loose relationship between crude
oil prices and natural gas prices alludes to near $15 natural
gas futures prices this year. Natural gas option premiums are
very high as usual.
4/18/08 Natural gas futures hit a contract
high this week based on the underground supplies being down 19%
from a year ago and huge overseas demand for liquified natural
gas. Many countries like Japan are willing to pay a premium for
natural gas and supplies generally go to the highest bidder.
Natural gas option premiums are very high.
4/11/08 Natural gas futures traded above the
$10.30 level again this week and then sold off. The DOE report
showed that underground supplies of natural gas are down 22%
from a year ago. The late cold snap throughout the midwest is
also helping to boost natural gas futures prices. Natural gas
option premiums are very high.
4/4/08 Natural gas futures are trading
within a $1.50 range for the last month. The DOE report showed a
decline in underground supplies to 20% lower than a year ago but
slightly above the 5 year average. Natural gas option premiums
are very high.
3/28/08 Natural Gas futures rallied this
week based on the DOE report showing that underground supplies
are 16% lower than this time last year. The late cold front that
came through the mid west last week is also helping to use up
supplies. Natural gas option premiums are very high.
3/21/08 Natural Gas futures prices kept
falling this week as Wall Street hedge funds and commodity funds
liquidated futures positions to cover margin calls in stocks and
to pay back borrowed money. The Bear Stearns issue took the
confidence from investors. The Fed's 75 basis point cut
surprised investors because a full 100 basis point cut was
expected. Underground supplies of natural gas are 14% lower than
this time last year. Natural gas option premiums are very high.
3/14/08 Natural gas futures prices rallied
again this week through $10. The EIA report showed underground
supplies of natural gas are 10% below a year ago. Based on the
high prices for heating oil many utility companies are using
natural gas to produce electricity. This may use up more
supplies in the coming months if heating oil/diesel stays at
these all time high levels. Natural gas option premiums are very
high currently.
3/7/08 Natural gas futures prices rallied
again this week based on the underground supplies being down by
10% from a year ago and cold weather throughout the Midwest US.
Natural gas option premiums are extremely high currently.
2/29/08 Natural gas futures prices rallied
to a contract high based on the EIA report that underground
supplies dropped down to 8% lower than last years levels. Recent
cold weather is past and above normal temperatures are expected
over the next week or so. Natural gas futures prices are up this
year 26% so far. Natural gas options premiums are ridiculous
right now.
2/22/08 Natural gas futures prices rallied
to the $9 based on the DOE's estimate that underground supplies
are down 7% from a year ago and the cold snap in the Midwest
also is using up supplies. Utility companies are using up
natural gas supplies because it is relatively cheap compared to
petroleum based fuels. Natural gas option premiums are very
high.
2/15/08 Natural gas futures prices are
trading higher again this week based on cold temperatures in the
Midwest and Northeast portions of the US. The IEA supply and
demand report showed supplies are down 9% from a year ago which
pushed natural gas to an 8 month high in prices. Natural gas
prices are still low compared to crude oil based products.
Natural gas option premiums are very high.
2/8/08 Natural gas futures are trading near
the $8 level this week. Cold weather caused draw downs in
supplies and the current supplies of natural gas are down 13%
from a year ago and 3% under the 5 year average for this time of
year. The cooling and hurricane season are a few months away and
natural gas supplies will have to make up some ground soon or
natural gas futures prices may go up to $9 or more this summer.
Natural gas options premiums are very high.
2/1/08 Natural gas futures prices broke out
above $8 this week. Cold weather is starting to affect supplies.
The current supplies are 9% below last year's price for this
time period. Natural gas futures prices are finding support at these
price levels. Natural gas futures prices has a heating demand to
contend with but sustained cold temperatures will probably be
needed to spur natural gas futures prices to new higher trading levels.
-T & K Futures and Options Inc. |
