Morning update
The July ’26 natural gas contract is trading down $0.08 at $3.15. The July ‘26 crude oil contract is up $1.26 at $91.80.
Summary
The NYMEX natural gas pricing curve ended last week a little weaker, with the prompt month losing almost 11 cents on Friday to finish the week at $3.23/MMBtu, down six cents for the week. Cals 2027-2030 were relatively flat week-over-week, while the calendar strips beyond 2030 were all down $0.03-$0.05. Cals ’29 through ‘33 continue to remain backwardated. Natural gas production continues to struggle to move higher, finishing the week at 108.1 Bcf/d, climbing about 1.0 Bcf/d throughout the week, but still down from the 111.5 Bcf/d all-time high reached in December. Feedgas for LNG exports is projected to come in around 16.8 Bcf/d, down almost 3.0 Bcf/d from its record high. Laat Thursday, the U.S. Energy Information Administration reported a 95 Bcf injection into natural gas storage inventories in the week to May 29, the seventh consecutive weekly build to come in under the corresponding weekly increase seen last year. The surplus to the 5-year average was trimmed to 5.7%, while the surplus to last year flipped to a 0.1% deficit. Current stockpiles stand at 2,578 Bcf, with the end of season expected to be in the neighborhood of 3,960 Bcf, a level similar to where storage-building finished up last year.
Morning update
The July ’26 natural gas contract is trading down $0.08 at $3.15. The July ‘26 crude oil contract is up $1.26 at $91.80.
Summary
The NYMEX natural gas pricing curve ended last week a little weaker, with the prompt month losing almost 11 cents on Friday to finish the week at $3.23/MMBtu, down six cents for the week. Cals 2027-2030 were relatively flat week-over-week, while the calendar strips beyond 2030 were all down $0.03-$0.05. Cals ’29 through ‘33 continue to remain backwardated. Natural gas production continues to struggle to move higher, finishing the week at 108.1 Bcf/d, climbing about 1.0 Bcf/d throughout the week, but still down from the 111.5 Bcf/d all-time high reached in December. Feedgas for LNG exports is projected to come in around 16.8 Bcf/d, down almost 3.0 Bcf/d from its record high. Laat Thursday, the U.S. Energy Information Administration reported a 95 Bcf injection into natural gas storage inventories in the week to May 29, the seventh consecutive weekly build to come in under the corresponding weekly increase seen last year. The surplus to the 5-year average was trimmed to 5.7%, while the surplus to last year flipped to a 0.1% deficit. Current stockpiles stand at 2,578 Bcf, with the end of season expected to be in the neighborhood of 3,960 Bcf, a level similar to where storage-building finished up last year.
Morning update
The July ’26 natural gas contract is trading down $0.08 at $3.15. The July ‘26 crude oil contract is up $1.26 at $91.80.
Summary
The NYMEX natural gas pricing curve ended last week a little weaker, with the prompt month losing almost 11 cents on Friday to finish the week at $3.23/MMBtu, down six cents for the week. Cals 2027-2030 were relatively flat week-over-week, while the calendar strips beyond 2030 were all down $0.03-$0.05. Cals ’29 through ‘33 continue to remain backwardated. Natural gas production continues to struggle to move higher, finishing the week at 108.1 Bcf/d, climbing about 1.0 Bcf/d throughout the week, but still down from the 111.5 Bcf/d all-time high reached in December. Feedgas for LNG exports is projected to come in around 16.8 Bcf/d, down almost 3.0 Bcf/d from its record high. Laat Thursday, the U.S. Energy Information Administration reported a 95 Bcf injection into natural gas storage inventories in the week to May 29, the seventh consecutive weekly build to come in under the corresponding weekly increase seen last year. The surplus to the 5-year average was trimmed to 5.7%, while the surplus to last year flipped to a 0.1% deficit. Current stockpiles stand at 2,578 Bcf, with the end of season expected to be in the neighborhood of 3,960 Bcf, a level similar to where storage-building finished up last year.
Morning update
The July ’26 natural gas contract is trading down $0.08 at $3.15. The July ‘26 crude oil contract is up $1.26 at $91.80.
Summary
The NYMEX natural gas pricing curve ended last week a little weaker, with the prompt month losing almost 11 cents on Friday to finish the week at $3.23/MMBtu, down six cents for the week. Cals 2027-2030 were relatively flat week-over-week, while the calendar strips beyond 2030 were all down $0.03-$0.05. Cals ’29 through ‘33 continue to remain backwardated. Natural gas production continues to struggle to move higher, finishing the week at 108.1 Bcf/d, climbing about 1.0 Bcf/d throughout the week, but still down from the 111.5 Bcf/d all-time high reached in December. Feedgas for LNG exports is projected to come in around 16.8 Bcf/d, down almost 3.0 Bcf/d from its record high. Laat Thursday, the U.S. Energy Information Administration reported a 95 Bcf injection into natural gas storage inventories in the week to May 29, the seventh consecutive weekly build to come in under the corresponding weekly increase seen last year. The surplus to the 5-year average was trimmed to 5.7%, while the surplus to last year flipped to a 0.1% deficit. Current stockpiles stand at 2,578 Bcf, with the end of season expected to be in the neighborhood of 3,960 Bcf, a level similar to where storage-building finished up last year.
