Active Business Services Industry Report – Week of March 24th, 2023
Market Moving News
NYMEX March up as near-term outlook for U.S. banking sector improves, projections for future crude demand optimisitic
For the week that ended March 10th natural gas futures remain steady week-overweek to trade at $4.50 USD/MMBtu for the month of March after the 58 Bcf storage decrease. Over the next 6 to 10 days, the eastern U.S. will be below normal temperatures, with normal temperatures in the south. With upcoming warmer temperatures across the U.S., future weather for the beginning of February shows generally above average seasonal conditions. The recent storage change, reported by the EIA, caused inventory levels to change to 35.9% above the 5-year average, 3.8% higher than the previous week. The U.S. EIA reports that the total natural gas in storage currently stands at 1.97 trillion cubic feet.
Active Business Services Industry Report – Week of March 6th, 2023
Market Moving News
NYMEX March down after outlook for China’s domestic demand for natural gas looking lower than projected
For the week that ended February 24th, natural gas futures remain steady week- over-week to trade at $4.50 USD/MMBtu for the month of March after the 81 Bcf storage decrease. Over the next 6 to 10 days, the eastern U.S. will be below normal temperatures, with normal temperatures in the south. With upcoming warmer temperatures across the U.S., future weather for the beginning of February shows generally above average seasonal conditions. The recent storage change, reported by the EIA, caused inventory levels to change to 27.1% above the 5-year average, 10.2% higher than the previous week. The U.S. EIA reports that the total natural gas in storage currently stands at 2.11 trillion cubic feet.
Active Business Services Industry Report – Week of February 10th, 2023
Market Moving News
NYMEX February mixed as traders mull over China’s demand recovery, U.S. interest rate hikes, and global demand concerns
For the week that ended February 10th, natural gas futures remain steady weekover-week to trade at $4.50 USD/MMBtu for the month of February after the 100 Bcf storage decrease. Over the next 6 to 10 days, the eastern U.S. will be above normal temperatures, with lower temperatures in the west. With upcoming warmer temperatures across the U.S., future weather for the beginning of February shows generally above average seasonal conditions. The recent storage change, reported by the EIA, caused inventory levels to change to 16.9% above the 5-year average, 6.0% higher than the previous week. The U.S. EIA reports that the total natural gas in storage currently stands at 2.27 trillion cubic feet.
Active Business Services Industry Report – Week of February 3rd, 2023
Market Moving News
NYMEX February increases on optimism for demand from China and concerns over exports from Turkey after the recent earthquake
For the week that ended February 3rd, natural gas futures remain steady week over-week to trade at $4.50 USD/MMBtu for the month of February after the 217 Bcf storage decrease. Over the next 6 to 10 days, the eastern U.S. will be above normal temperatures, with lower temperatures in the west. With upcoming warmer temperatures across the U.S., future weather for the beginning of February shows generally above average seasonal conditions. The recent storage change, reported by the EIA, caused inventory levels to change to 10.9% above the 5-year average, 1.5% higher than the previous week. The U.S. EIA reports that the total natural gas in storage currently stands at 2.37 trillion cubic feet.
Active Business Services Industry Report – Week of January 27th, 2023
Market Moving News
NYMEX February increases on optimism for demand from China and concerns over exports from Turkey after the recent earthquake
For the week that ended January 27th, natural gas futures remain steady week-over-week to trade at $4.50 USD/MMBtu for the month of February after the 151 Bcf storage decrease. Over the next 6 to 10 days, the eastern U.S. will be above normal temperatures, with lower temperatures in the west. With upcoming warmer temperatures across the U.S., future weather for the beginning of February shows generally above average seasonal conditions. The recent storage change, reported by the EIA, caused inventory levels to change to 9.4% above the 5-year average, 4.5% higher than the previous week. The U.S. EIA reports that the total natural gas in storage currently stands at 2.58 trillion cubic feet.
Active Business Services Industry Report – Week of January 20th, 2023
Market Moving News
NYMEX January increases on optimism for demand from China and stabilization of world economy
For the week that ended January 20th, natural gas futures remain steady wee-kover-week to trade at $4.50 USD/MMBtu for the month of January after the 91 Bcf storage decrease. Over the next 6 to 10 days, the majority of the U.S. will be below normal temperatures. With upcoming colder temperatures across the U.S., future weather for the beginning of December shows generally average seasonal conditions. The recent storage change, reported by the EIA, caused inventory levels to change to 4.9% above the 5-year average, 0.3% higher than the previous week. The U.S. EIA reports that the total natural gas in storage currently stands at 2.73 trillion cubic feet.
Active Business Services Industry Report – Week of January 6th, 2023
Market Moving News
NYMEX January increases on optimism for demand from China and stabilization of world economy
For the week that ended January 6th, natural gas futures remain steady week-over-week to trade at $4.50 USD/MMBtu for the month of January after the 11 Bcf storage increase. Over the next 6 to 10 days, the majority of the U.S. will be below normal temperatures. With upcoming colder temperatures across the U.S., future weather for the beginning of December shows generally average seasonal conditions. The recent storage change, reported by the EIA, caused inventory levels to change to 4.6% below the 5-year average, 2.1% lower than the previous week. The U.S. EIA reports that the total natural gas in storage currently stands at 2.90 trillion cubic feet.
Active Business Services Industry Report – Week of December 5th, 2022
Market Moving News
NYMEX December falls with G7 price cap to Russia, despite easing of COVID-19 restrictions in China
For the week that ended November 25th, natural gas futures remain steady week- over-week to trade at $4.50 USD/MMBtu for the month of November after the 64 Bcf storage increase. Over the next 6 to 10 days, the majority of the U.S. will be below normal temperatures. With upcoming colder temperatures across the U.S., future weather for the beginning of December shows generally average seasonal conditions. The recent storage change, reported by the EIA, caused inventory levels to change to 2.5% below the 5-year average, 0.8% lower than the previous week. The U.S. EIA reports that the total natural gas in storage currently stands at 3.48 trillion cubic feet.
Active Business Services Industry Report – Week of October 24th
Market Moving News
NYMEX October mixed as demand in China falls, weakening USD, and an increase in crude oil inventories
For the week that ended October 14th, natural gas futures remain steady week over-week to trade at $6.72 USD/MMBtu for the month of October after the 125 Bcf storage increase. Over the next 6 to 10 days, the majority of the U.S. will be above normal temperatures. With upcoming hot temperatures across the U.S., future weather for the beginning of October shows generally average seasonal conditions. The recent storage change, reported by the EIA, caused inventory levels to change to 3.1% below the 5-year average, 0.7% higher than the previous week. The U.S. EIA reports that the total natural gas in storage currently stands at 3.34 trillion cubic feet.