U.S. natural gas sinks, on track for worst month in three years

A liquid natural gas (LNG) storage silo at the LNG terminal, operated by LNG Croatia LLC, in Krk, Croatia, on Monday, Jan. 25, 2021.Petar Santini | Bloomberg | Getty Images

U.S. natural gas futures slid Tuesday to the lowest level in more than two months as warmer-than-expected winter forecasts sent prices tumbling.

The contract for January delivery fell as much as 7% to trade at $4.51 per million British thermal units (MMBtu). The weakness builds on Monday's drop, which saw the contract settle 11.37% lower at $4.85 per MMBtu.

Over the last two sessions, futures are down more than 17%.

“The weather outlook for the core heating demand months of the winter (December, January, February) suggests higher than normal temperatures in the major US demand centers,” said David Givens, head of gas and power services for North America at Argus Media.

“[Monday was] the first day that January is the prompt month and both commercial (producers, gas distributors) and non-commercial market participants (speculators, hedge funds, prop shops) are looking at fundamentals [which is] pushing prices down,” he added.

The selling over the last two days comes after natural gas futures spiked 7% on Friday, despite oil falling 13% during the same session. The December contract expired on Friday so some of the activity could have been traders closing out positions.

Natural gas is now down about 16% for the month, putting it on track for the worst month since December 2018. The contract is on track for a second month of declines.

Natural gas has been a volatile trade this year, and the sharp recent declines follows a period of enormous strength. The contract posted a monthly gain from April through September, with prices surging 34% in September alone.

The strength continued into the beginning of October, with the contract hitting $6.466 per MMBtu, the highest level since February 2014. The optimism was fueled in part by calls for power producers to switch from oil to natural gas as crude prices surged. The energy crunch unfolding across Europe and the U.K. also pushed U.S. prices higher.

For the year, natural gas is still up roughly 80%. It's also on track for its best year since 2005.

News Related

OTHER NEWS

Tanla Platforms Consolidated December 2021 Net Sales at Rs 884.92 crore, up 35.29% Y-o-Y

Reported Consolidated quarterly numbers for Tanla Platforms are: Net Sales at Rs 884.92 crore in December 2021 up 35.29% from Rs. 654.11 crore in December 2020. Quarterly Net Profit at ... Read more »

Sharda Crop Consolidated December 2021 Net Sales at Rs 879.81 crore, up 78.17% Y-o-Y

Reported Consolidated quarterly numbers for Sharda Cropchem are: Net Sales at Rs 879.81 crore in December 2021 up 78.17% from Rs. 493.81 crore in December 2020. Quarterly Net Profit at ... Read more »

ORIENTAL AROMAT Consolidated December 2021 Net Sales at Rs 205.78 crore, up 7.92% Y-o-Y

Reported Consolidated quarterly numbers for ORIENTAL AROMATICS Ltd. are: Net Sales at Rs 205.78 crore in December 2021 up 7.92% from Rs. 190.68 crore in December 2020. Quarterly Net Profit ... Read more »

Refex Ind Consolidated December 2021 Net Sales at Rs 89.72 crore, down 37.86% Y-o-Y

Reported Consolidated quarterly numbers for Refex Industries are: Net Sales at Rs 89.72 crore in December 2021 down 37.86% from Rs. 144.39 crore in December 2020. Quarterly Net Profit at ... Read more »

Sangam India Consolidated December 2021 Net Sales at Rs 649.80 crore, up 47.6% Y-o-Y

Reported Consolidated quarterly numbers for Sangam (India) are: Net Sales at Rs 649.80 crore in December 2021 up 47.6% from Rs. 440.25 crore in December 2020. Quarterly Net Profit at ... Read more »

PCBL Consolidated December 2021 Net Sales at Rs 1,156.14 crore, up 50.27% Y-o-Y

Reported Consolidated quarterly numbers for PCBL are: Net Sales at Rs 1,156.14 crore in December 2021 up 50.27% from Rs. 769.40 crore in December 2020. Quarterly Net Profit at Rs. ... Read more »

Seshasayee Pape Consolidated December 2021 Net Sales at Rs 334.16 crore, up 103.11% Y-o-Y

Reported Consolidated quarterly numbers for Seshasayee Paper and Boards are: Net Sales at Rs 334.16 crore in December 2021 up 103.11% from Rs. 164.52 crore in December 2020. Quarterly Net ... Read more »

Container Corp Consolidated December 2021 Net Sales at Rs 1,938.03 crore, up 9.69% Y-o-Y

Reported Consolidated quarterly numbers for Container Corporation of India are: Net Sales at Rs 1,938.03 crore in December 2021 up 9.69% from Rs. 1,766.89 crore in December 2020. Quarterly Net ... Read more »

Vardhman Text Consolidated December 2021 Net Sales at Rs 2,603.18 crore, up 48.74% Y-o-Y

Reported Consolidated quarterly numbers for Vardhman Textiles are: Net Sales at Rs 2,603.18 crore in December 2021 up 48.74% from Rs. 1,750.10 crore in December 2020. Quarterly Net Profit at ... Read more »

IDBI Gold ETF Consolidated December 2021 Net Interest Income (NII) at Rs 2,389.07 crore, up 31.54% Y-o-Y

Reported Consolidated quarterly numbers for IDBI Gold ETF are: Net Interest Income (NII) at Rs 2,389.07 crore in December 2021 up 31.54% from Rs. 1816.29 crore in December 2020. Quarterly ... Read more »

Electronics production in India to reach $300 billion by 2026: Report

Representative image Electronics production in the country is expected to reach USD 300 billion by 2026, industry body ICEA said in a report on Monday. The National Policy on Electronics ... Read more »

Sasken Tech Consolidated December 2021 Net Sales at Rs 106.27 crore, down 6.69% Y-o-Y

Reported Consolidated quarterly numbers for Sasken Technologies are: Net Sales at Rs 106.27 crore in December 2021 down 6.69% from Rs. 113.89 crore in December 2020. Quarterly Net Profit at ... Read more »

KFC Kenya will start sourcing potatoes from local producers amid fries shortage

Photo by: Jason Yuen/Unsplash KFC Kenya is set to start using potatoes from local farmers by the end of this year. The Nyandarua County Government in Kenya and Kentucky Fried ... Read more »

Datamatics Glob Consolidated December 2021 Net Sales at Rs 300.77 crore, down 0.75% Y-o-Y

Reported Consolidated quarterly numbers for Datamatics Global Services are: Net Sales at Rs 300.77 crore in December 2021 down 0.75% from Rs. 303.06 crore in December 2020. Quarterly Net Profit ... Read more »

Polycab Consolidated December 2021 Net Sales at Rs 3,372.00 crore, up 20.48% Y-o-Y

Reported Consolidated quarterly numbers for Polycab India are: Net Sales at Rs 3,372.00 crore in December 2021 up 20.48% from Rs. 2,798.83 crore in December 2020. Quarterly Net Profit at ... Read more »

Vakrangee Consolidated December 2021 Net Sales at Rs 208.67 crore, up 180.61% Y-o-Y

Reported Consolidated quarterly numbers for Vakrangee are: Net Sales at Rs 208.67 crore in December 2021 up 180.61% from Rs. 74.36 crore in December 2020. Quarterly Net Profit at Rs. ... Read more »

Rattan Power Consolidated December 2021 Net Sales at Rs 804.79 crore, up 164.86% Y-o-Y

Reported Consolidated quarterly numbers for RattanIndia Power are: Net Sales at Rs 804.79 crore in December 2021 up 164.86% from Rs. 303.86 crore in December 2020. Quarterly Net Loss at ... Read more »

IDBI Div 95 Consolidated December 2021 Net Interest Income (NII) at Rs 2,389.07 crore, up 31.54% Y-o-Y

Reported Consolidated quarterly numbers for IDBI Div I NIT 95 are: Net Interest Income (NII) at Rs 2,389.07 crore in December 2021 up 31.54% from Rs. 1816.29 crore in December ... Read more »

Max Ventures an Consolidated December 2021 Net Sales at Rs 38.22 crore, down 87.09% Y-o-Y

Reported Consolidated quarterly numbers for Max Ventures and Industries are: Net Sales at Rs 38.22 crore in December 2021 down 87.09% from Rs. 296.09 crore in December 2020. Quarterly Net ... Read more »

20 Microns Consolidated December 2021 Net Sales at Rs 161.25 crore, up 7.68% Y-o-Y

Reported Consolidated quarterly numbers for 20 Microns are: Net Sales at Rs 161.25 crore in December 2021 up 7.68% from Rs. 149.75 crore in December 2020. Quarterly Net Profit at ... Read more »

Datamatics Glob Standalone December 2021 Net Sales at Rs 149.40 crore, up 31.56% Y-o-Y

Reported Standalone quarterly numbers for Datamatics Global Services are: Net Sales at Rs 149.40 crore in December 2021 up 31.56% from Rs. 113.56 crore in December 2020. Quarterly Net Profit ... Read more »

Wendt Consolidated December 2021 Net Sales at Rs 41.22 crore, up 15.24% Y-o-Y

Reported Consolidated quarterly numbers for Wendt (India) are: Net Sales at Rs 41.22 crore in December 2021 up 15.24% from Rs. 35.77 crore in December 2020. Quarterly Net Profit at ... Read more »

Kabra Extrusion Consolidated December 2021 Net Sales at Rs 105.36 crore, up 69.93% Y-o-Y

Reported Consolidated quarterly numbers for Kabra Extrusion Technik are: Net Sales at Rs 105.36 crore in December 2021 up 69.93% from Rs. 62.00 crore in December 2020. Quarterly Net Profit ... Read more »

Inventure Grow Consolidated December 2021 Net Sales at Rs 13.24 crore, up 68.88% Y-o-Y

Reported Consolidated quarterly numbers for Inventure Growth and Securities are: Net Sales at Rs 13.24 crore in December 2021 up 68.88% from Rs. 7.84 crore in December 2020. Quarterly Net ... Read more »

Delhi HC lists for April 20 PIL on issue of Prime Minister's security

Prime Minister Narendra Modi was stuck on a flyover for almost 20 minutes on his way to Punjab to attend an event on January 5 after protesters blocked his way. ... Read more »

Cybertech Consolidated December 2021 Net Sales at Rs 35.57 crore, up 17.56% Y-o-Y

Reported Consolidated quarterly numbers for Cybertech Systems and Software are: Net Sales at Rs 35.57 crore in December 2021 up 17.56% from Rs. 30.25 crore in December 2020. Quarterly Net ... Read more »

Havells India Standalone December 2021 Net Sales at Rs 3,652.25 crore, up 15.36% Y-o-Y

Reported Standalone quarterly numbers for Havells India are: Net Sales at Rs 3,652.25 crore in December 2021 up 15.36% from Rs. 3,165.85 crore in December 2020. Quarterly Net Profit at ... Read more »

SHAREINDIA Consolidated December 2021 Net Sales at Rs 201.00 crore, up 81.16% Y-o-Y

Reported Consolidated quarterly numbers for SHAREINDIA are: Net Sales at Rs 201.00 crore in December 2021 up 81.16% from Rs. 110.95 crore in December 2020. Quarterly Net Profit at Rs. ... Read more »

Elixir Cap Consolidated December 2021 Net Sales at Rs 1.00 crore, down 86.05% Y-o-Y

Reported Consolidated quarterly numbers for Elixir Capital are: Net Sales at Rs 1.00 crore in December 2021 down 86.05% from Rs. 7.19 crore in December 2020. Quarterly Net Profit at ... Read more »

California Soft Consolidated December 2021 Net Sales at Rs 4.00 crore, up 900% Y-o-Y

Reported Consolidated quarterly numbers for California Software are: Net Sales at Rs 4.00 crore in December 2021 up 900% from Rs. 0.40 crore in December 2020. Quarterly Net Profit at ... Read more »

Lyka Labs Consolidated December 2021 Net Sales at Rs 35.57 crore, up 32.67% Y-o-Y

Reported Consolidated quarterly numbers for Lyka Labs are: Net Sales at Rs 35.57 crore in December 2021 up 32.67% from Rs. 26.81 crore in December 2020. Quarterly Net Profit at ... Read more »

Delhi Metro will curtail services on Republic Day

Delhi-Metro Delhi Metro services on Line 2 between HUDA City Centre and Samaypur Badli will be curtailed on January 26 on account of the security arrangements for the Republic Day ... Read more »

Gland Consolidated December 2021 Net Sales at Rs 1,063.33 crore, up 23.73% Y-o-Y

Reported Consolidated quarterly numbers for Gland Pharma are: Net Sales at Rs 1,063.33 crore in December 2021 up 23.73% from Rs. 859.42 crore in December 2020. Quarterly Net Profit at ... Read more »

Sphere Global Consolidated December 2021 Net Sales at Rs 1.26 crore, down 35.25% Y-o-Y

Reported Consolidated quarterly numbers for Adroit Infotech Limited are: Net Sales at Rs 1.26 crore in December 2021 down 35.25% from Rs. 1.94 crore in December 2020. Quarterly Net Profit ... Read more »

Anand Mahindra, ex film student, may just take up Madhya Pradesh Chief Minister's offer

Anand Mahindra had revealed in a tweet on January 20 that he wanted to be a filmmaker and studied the subject in college.  After industrialist Anand Mahindra revealed last week ... Read more »

Real estate market sentiment up in December quarter but Omicron concerns linger

Sentiment Index Score for real estate touched a record 65 for the fourth quarter of 2021, topping the previous high of 63 in the third quarter, noted a report called Knight Frank-FICCI-NAREDCO Real ... Read more »

New airbag rule: What it means for automobile customers

Airbags: Saving lives Union Minister of Road Transport and Highways Nitin Gadkari recently has taken forward his proposal of making six airbags mandatory for all eight-seater vehicles. Gadkari had recently ... Read more »

Domestic car sales drop 4.2% in 2021, seen higher this year

FILE PHOTO: Models pose beside a Nissan Kicks E-Power electric vehicle car at the Thailand International Motor Expo 2021 in Bangkok on Dec 2, 2021. (AFP) Domestic car sales fell ... Read more »

PM Modi interacts with Pradhan Mantri Rashtriya Bal Puraskar recipients

PM Narendra Modi (File image) Prime Minister Narendra Modi on Monday virtually interacted with the winners of the Pradhan Mantri Rashtriya Bal Puraskar and awarded them certificates digitally using block ... Read more »

Market nosedives for fifth straight session, investors lose over Rs 17.5 trillion: 5 reasons why

The Indian market’s downward spiral continued for the fifth consecutive session on January 24, with the benchmark indices trading almost 2 percent down each at mid-day. The five days of ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic