Able

Getting a major boost from the expiration-day spike of 35.2 cents by July futures, most of the cash market was able to advance Friday. In doing so, it overcame bearish influences such as forecasts of declining temperatures in much of the East and the usual weekend dropoff in industrial load.

Still finding only marginal heating or cooling load in various areas, most of the cash market was still able to realize small gains Monday on the basis of a 27.4-cent spike in June futures on the preceding Friday and the return of industrial load from its typical weekend decline. However, major transportation constraints in the West resulted in a combination of big gains and big losses in the region.

The United States can achieve energy security only if it is able to convince lawmakers and litigation-minded stakeholders that allowing access to restricted areas would boost oil and natural gas reserves and not add to global warming concerns, a panel of energy experts said last week at the Offshore Technology Conference in Houston.

The United States can achieve energy security only if it is able to convince lawmakers and litigation-minded stakeholders that allowing access to restricted areas would boost the nation’s oil and natural gas reserves and not add to global warming concerns, a panel of energy experts said this week at the Offshore Technology Conference in Houston.

Natural gas futures bulls put in a new high for the up move on Tuesday but in the end were not able to capitalize on the momentum. June natural gas recorded a high of $11.364 just before noon EDT before retreating in the remainder of the regular session to finish the day at $11.150, down 2.8 cents from Monday.

May natural gas futures were able to shrug off potentially bearish news and closed at a new all-time high Wednesday for the price advance that began in December. The May contract rose 17.4 cents to $10.781 and the June contract added 18.3 cents to settle at $10.946. June crude oil gained 23 cents to $118.30/bbl.

Cash prices were able to recover Monday all of the ground they had lost Friday and more as numbers moved higher at all but two points. There was cooling load developing in the South and Southwest, still-substantive heating load on both sides of long stretches of the U.S.-Canadian border, support from the 20.4-cent advance by May futures Friday and the return of industrial demand from its typical weekend hiatus.

Although some of the newfound cooling demand will already be starting to fade Wednesday in the South, cash prices were able to keep rising Tuesday at most points because of the residual heating load and cooling load that remained in northern and southern market areas, respectively, and the previous day’s 30.1-cent advance by May futures. But flat to about 35 cents lower quotes at quite a few locations and a major screen retreat signaled that the bullishness with which the April aftermarket began may be ending quickly.

If Rockies Express Pipeline (REX) quickly files needed environmental information, FERC will be able to meet the pipeline’s request for an expedited final environmental review and certificate for its REX-East leg, said Chairman Joseph Kelliher Friday.