Midwest Leads Broad Advance With Cold Snap; Futures Slide

Cash market quotes overall averaged nearly 13 cents higher Wednesday aided by a strong screen from the day before and weather forecasts calling for the first major incursion of cold air of the season. Midwest points and those locations expected to feel the brunt of the late-week cold experienced gains upward of 20 cents, but Gulf and California advances were more modest. At the close of futures trading November had skidded 8.5 cents to $3.450 and December had slipped 8.5 cents also to $3.776. December crude oil continued lower losing 94 cents to $85.73/bbl.

October 25, 2012

Western, Gulf Gains Highlight Strong Advance; Futures Vault Higher

The cash market gained on average 13 cents Wednesday, aided by a strong futures market and stout gains posted at Western and Gulf points. Alleviation of restrictions prompted a 50 cent-plus jump at a key Marcellus point. At the close of futures trading June had added 11.8 cents to $2.618 and July had risen by 11.9 cents to $2.687. June crude oil continued its descent, losing $1.17 to $92.81/bbl.

May 17, 2012

ExxonMobil: Unconventional Gas to Grow Five-Fold by 2030

By 2030, natural gas will have become the second-largest global energy source — ahead of coal — aided by technologies that have unlocked enormous new supplies of gas from shale, tight formations and coalbed methane, ExxonMobil Corp. said Thursday.

January 28, 2011

Large Storage Build Helps Sink Cash Points

Aided by moderate screen weakness the prior day, cash point averages on Thursday for Friday delivery came off a couple of pennies at a majority of locations with one point apiece in the Northeast, Texas, Rockies and the West shedding a dime while Dawn in the Midwest dropped 20 cents.

May 7, 2010

Futures Boosted Above $6 on Salazar’s Drilling Crackdown

Aided by continuing cold and Thursday morning’s storage report expectations, with an assist from Interior Secretary Ken Salazar’s announcement of an ambitious reform of onshore drilling (see related story), February natural gas futures on Wednesday shot to a high of $6.034 before closing the regular session at $6.009, up 37.2 cents from Tuesday’s finish.

January 8, 2010

July Expires 10.5 Cents Higher on Tropical Threat

Aided by a developing storm system in the tropics, July natural gas futures pushed higher for much of Friday’s regular session. The expiring contract touched the psychological $4 level just prior to going off the board at $3.949, up 10.5 cents from Thursday’s finish but 8.3 cents lower than the previous week’s close. The August contract gained 11.6 cents to $4.105 on Friday.

June 29, 2009

Futures Continue Higher, But Traders Question Longevity of Run

Maintaining the momentum from the final two days of trading last week, natural gas futures on Monday — aided by strength in equities and petroleum futures — continued higher despite the lack of direct bullish fundamentals. The April contract climbed 6.7 cents to close at $4.294.

March 24, 2009

Futures Sink Following 46 Bcf Storage Build

Countering the combined 43.8-cent gain from trading on Tuesday and Wednesday, December natural gas futures — aided by a slightly bearish 46 Bcf storage injection report — gave back 34.7 cents on Thursday to close at $6.431. December crude futures also dropped $1.54 to finish at $65.96/bbl on the day.

October 31, 2008

Cash Points Drop Thursday to Continue Seesaw Week for Prices

Aided by prior-day futures weakness, cash points on Thursday continued the week’s trend of back and forth by recording drops across the country. While most regions saw decreases of 20 to 45 cents, some eastern delivery points dropped on Thursday by over 60 cents.

October 24, 2008

Futures Rebound Following Last Week’s Drop

After dropping 47.8 cents last week, the May natural gas futures contract almost made it all back on Monday as traders — aided by strength in crude prices — pushed the prompt-month 46.9 cents higher to close at $9.791.

April 8, 2008
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