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Natural Gas Mini Feb '17 (QGG17)

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Natural Gas Mini Futures Market News and Commentary

Nat-Gas Prices Soar on the Outlook for US Nat-Gas Supplies to Tighten

June Nymex natural gas (NGM24) on Friday closed up by +0.107 (+5.26%).

June nat-gas prices Friday climbed to a 3-month nearest-futures high and settled sharply higher.  Gas prices surged Friday after Cheniere Energy said it doesn't expect prolonged outages at its LNG plants this summer, which should boost US LNG exports and help tighten up the oversupplied US nat-gas market.  Gains in nat-gas prices accelerated Friday afternoon after Baker Hughes reported that the number of active US nat-gas drilling rigs in the week ending May 3 fell by -3 rigs to a 2-1/2 year low, which signals a reduction in US nat-gas production in the near term.

Nat gas prices on April 26 tumbled to a 3-3/4 year nearest-futures low (NGK24) due to ample US nat-gas supplies and mild spring temperatures.   Nat-gas prices have collapsed this year after an unusually mild winter curbed heating consumption for nat-gas and pushed inventories well above average.

Nat-gas prices had been under pressure a... Read more

Contract Specifications

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Contract
E-Mini Natural Gas
Contract Size
2,500 MMBtu (million British thermal units)
Tick Size
0.005 per MMBtu ($12.50 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 1:30p.m.) CST
Exchange
NYMEX
Point Value
$2,500
Margin/Maintenance
$761/692
First Notice Date
01/26/17
Expiration Date
01/26/17 (expired)

Seasonal Chart

Natural Gas Mini Feb '17
Average Price Chart for 5 Prior Feb Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
3.095 +9.27%
on 01/09/17
3.900 -13.28%
on 12/28/16
-0.296 (-8.05%)
since 12/23/16
3-Month
2.770 +22.09%
on 11/09/16
3.900 -13.28%
on 12/28/16
+0.184 (+5.75%)
since 10/26/16
52-Week
2.534 +33.46%
on 02/25/16
3.900 -13.28%
on 12/28/16
+0.562 (+19.93%)
since 01/26/16

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Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 3.574
1st Resistance Point 3.478
Last Price 3.382s
1st Support Level 3.298
2nd Support Level 3.214
3rd Support Level N/A

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52-Week High 3.900
Last Price 3.382s
Fibonacci 61.8% 3.378
Fibonacci 50% 3.217
Fibonacci 38.2% 3.056
52-Week Low 2.534

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