Register with us today

and in less than 60 seconds continue your access to: Latest news headlines Analytical topics and features Commodities videos, podcast & blogs Sample market prices & data Special reports Subscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

IF you are a Platts Market Center subscriber, to reset your password go to the�Platts Market Center to reset your password.

In this list
Natural Gas

NYMEX July natural gas futures dip 2.7 cents to $2.922/MMBtu on mixed market fundamentals

Natural Gas | Natural Gas (North American)

Market shrugs as natural gas storage lags in US Midwest

Natural Gas | Oil

Platts Wellscape P2P

Commodities | Natural Gas | LNG | Marine Fuels | Tankers | Banking

18th Annual LNG Conference

Natural Gas

MVP's latest cost increase -- a big one -- expected to eat into operator's returns

NYMEX July natural gas futures dip 2.7 cents to $2.922/MMBtu on mixed market fundamentals

The NYMEX July natural gas futures contract fell Tuesday on mixed market fundamentals.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

As of 11:30 pm EDT (1530 GMT), the front-month contract was trading 2.7 cents lower at $2.922/MMBtu after moving between $2.917/MMBtu and $2.988/MMBtu so far in the session.

Kyle Cooper, analyst at IAF Advisors, said the market coming off was "surprising."

Prices have hovered in a range of $2.885-$2.962/MMBtu since July began trading as the front month, averaging $2.921/MMBtu so far. Prices averaged $3.037/MMBtu for the July strip for the same period of 2017.

"The market is showing resistance at the $3 level," Cooper said.

Record high production levels so far this year are one of the reasons prices have stayed below the $3 level, even with a 22% deficit in national gas stocks; the five-year average is $2.329/MMBtu.

Current working gas in underground storage sits at 1.817 Tcf for the week ended June 1, according to the Energy Information Administration.

US production fell 1.4 Bcf on the day to 76.8 Bcf Tuesday, largely due to production declines in the Rockies and the Northeast. Production is likely to rise to 77.9 Bcf/d over the next seven days, based S&P Global Platts Analytics estimates.

In the month to date, production is 78.3 Bcf/d, up 6.1 Bcf from a year ago.

The National Weather Service forecast for the next six to 10 days calls for the likelihood of warmer-than-average temperatures for much of the country except the Rockies and Southwest regions, where cooler temperatures are expected.

Total US demand edged up 300 MMcf on the day to 72.3 Bcf Tuesday. Platts Analytics projects consumption to increase to 73 Bcf/d over the next seven days.

Total consumption stands at 71 Bcf/d so far in June, up 5% from a year ago.

--Veda Chowdhury,
--Edited by Jonathan Fox,