Weather, Technical Ambiguity Weaken Futures; December Slides

December natural gas continued its downward spiral Friday as near-term weather appears likely to encourage greater storage additions and technical support has yet to be fully realized. At the close December had fallen 9.4 cents to $3.316 and January had eroded 5.0 cents to $3.496. December crude oil shed $1.41 to $97.41/bbl.

November 21, 2011

Onshore Development Causing Oil, Gas Supply Glut, Says Analyst

An interior oil and natural gas supply glut, the result of strong output from shales and tight oil and gas plays, is developing because infrastructure can’t keep up, and that in turn is pressuring prices, according to Canaccord Genuity.

October 20, 2011

Hefty EIA Storage Builds Expected; November Drops

November futures plunged Wednesday as traders anticipate an inventory report to not only show additions to storage well above historical averages, but also surpass the record for October. At the close November had dropped 12.7 cents to $3.489 and December had shed 6.8 cents to $3.791. November crude oil fell 24 cents to $85.57/bbl.

October 13, 2011

Stock Market May Dampen Seasonal Rise, Analyst Says; September Drops

September natural gas futures fell Wednesday as traders anticipated the release of inventory additions well above last-year and seasonal norms, but it was not enough to dampen the case for a seasonal advance, analysts pointed out. At the close September had fallen 7.1 cents to $3.922 and October had retreated 7.9 cents to $3.889. October crude oil shed 28 cents to $85.16/bbl.

August 25, 2011

New Low Signals Technical Weakness; September Skids

September natural gas fell Thursday as the market digested a storage report showing additions to inventory above what the market was looking for. The Energy Information Administration (EIA) reported a build for the week ended Aug. 12 of 50 Bcf while traders were expecting about 5 Bcf less. At the close September had fallen 4.1 cents to $3.892 after trading as low as $3.843 and October had given up 4.4 cents to $3.899. September crude oil followed free-falling financial markets and dropped $5.20 to $82.38/bbl.

August 19, 2011

Traders Mull Bearish Inventory Report, Oil Prices; July Sinks

July natural gas underwent a double-digit drubbing Thursday following a government inventory report showing greater-than-expected additions to inventories. Traders were surprised by the 98 Bcf addition reported by the Energy Information Administration, and prices promptly fell as expectations were for a smaller build. At the close July was 12.4 cents lower at $4.193 and August had dropped 13.3 cents to $4.217. July crude oil cascaded lower, giving up $4.39 to $91.02/bbl.

June 24, 2011

July Cartwheels Lower Following Bearish EIA Report

July natural gas plunged Thursday after the release of a government inventory report showing slightly higher additions to storage than what traders were expecting.

June 10, 2011

Marathon Doubles Up in South Texas Shale Play

In one of the highest-priced transactions to date in any U.S. shale play, Marathon Oil Corp. on Wednesday agreed to pay $3.5 billion, or as much as $25,000/acre, for 141,000 net acres in the Eagle Ford Shale of South Texas.

June 2, 2011

Futures Drop on Eve of Inventory Data

June natural gas futures posted nearly a double-digit loss Wednesday as traders discount expected additions to inventories below historical norms and note a weakening technical outlook. At the close June had fallen 9.3 cents to $4.577 and July had weakened 9.4 cents to $4.644. June crude oil swooned $1.81 to $109.24/bbl.

May 5, 2011

Smaller-Than-Expected Storage Addition Ignites Futures Higher

After weeks of digesting larger-than-expected additions to gas storage inventories, traders on Thursday were shocked in the other direction as the Energy Information Administration (EIA) reported that a smaller-than-expected 73 Bcf was injected underground for the week ending April 16.

April 23, 2010