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Last year offered “ample reason” for investors to turn bearish on natural gas, Chesapeake Energy Corp. CEO Aubrey McClendon said Wednesday. “We heard it was a terrible product and no one would ever make any money at it.”

Last year offered “ample reason” for investors to turn bearish on natural gas, Chesapeake Energy Corp. CEO Aubrey McClendon said Wednesday. “We heard it was a terrible product and no one would ever make any money at it.”

An ample supply of gas, moderating temperatures and the lack of threatening tropical weather activity continues to put downward pressure on natural gas futures prices, according to Gene McGillian, an analyst with Tradition Energy. On Wednesday the September contract declined by 2.8 cents to close at $4.239.

A trio of supportive influences — heating load expected to remain ample for a while longer across Canada and much of the U.S.; the previous Friday’s gain of 12.7 cents by January futures; and the return of industrial load from its typical weekend recess — pushed cash prices to double-digit increases across the board Monday.

July natural gas futures soared Monday as traders discarded less-than-encouraging weather forecasts, ample storage supplies and a declining rig count that has failed to make a dent in production for largely technical factors.

Rocky Mountain natural gas producers waited a long time to have ample pipeline capacity to get their production to market. What a shame that now that they have the Rockies Express Pipeline (REX) they also find themselves in the midst of a humbling continentwide gas price collapse.

Rocky Mountain natural gas producers waited a long time to have ample pipeline capacity to get their production to market. What a shame that now that they have the Rockies Express Pipeline (REX) they also find themselves in the midst of a humbling continentwide gas price collapse.

January natural gas futures fell in erratic, choppy trading Monday as analysts see continued weakness stemming from ample supplies and fickle cold weather. The January contract fell 17.6 cents to $5.566 and February lost 15.5 cents to $5.612. January crude oil rose $2.90 to $43.71/bbl.

Prices continued to drop Monday in most of the East and at some locations in the Midcontinent and Midwest as moderate weather in most areas, ample storage supplies and screen weakness on the prior trading day again weighed on the cash market. Flat to a little more than $1.25 higher numbers at several points, primarily in the Midcontinent and Rockies, were able to benefit from the post-weekend return of industrial load and to some extent from bargain hunting after dropping to less than $2 in some instances Friday.