Coming in on the high side of most industry expectations, the 168 Bcf net storage withdrawal in the Energy Information Administration’s (EIA) storage report for the cold and blustery week that ended Dec. 8 resulted in a spike in January natural gas futures Thursday to a high of $7.910. However, a short jolt was all the report provided as the prompt month sunk lower for a majority of the session, recording a low of $7.530 before settling at $7.555, down 11.8 cents on the day.
Blustery
Articles from Blustery
Futures Head-Fake Higher Before Settling 27.1 Cents Lower on the Day
As a blustery cold front continues to consume the eastern half of the U.S., natural gas futures on Monday appeared to be picking up where they left off on Friday — looking towards higher price levels. However, after January natural gas futures reached a high of $14.450 just before 1:20 p.m. EST, the prompt month dropped off, recording a low of $13.500 before settling at $13.660, down 27.1 cents on the day.
December 6, 2005
Wood Keeps an Eye on Pacific NW as Winter Approaches
With the blustery days of winter not all that far off, FERC chairman Pat Wood last Friday made it clear that he will keep a watchful eye on how energy markets in the Pacific Northwest progress over the coming months, since that part of the country has a winter peaking system bolstered by hydro-electric power and has seen precipitation fall off dramatically.
October 1, 2001
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