Cash Up, Up And Away; Futures At New Highs

The cash natural gas market bounded higher Friday by 12 cents, encouraged by Thursday’s and Friday’s strength in futures as well as weather forecasts calling for continued cool temperatures. However, the average rises to 15 cents once slip-sliding quotes on Algonquin and portions of Tennessee are factored out.

March 18, 2013

Futures Short-Covering Prompts Broad Cash Rally

The physical market bounded sharply higher Tuesday, prompted by a strong screen and low inventories at some points. Nearly all points recorded double-digit gains. At the close of futures trading, October had added 18.0 cents to $2.992 and November had climbed 16.3 cents to $3.104. October crude oil gained 63 cents to $97.17/bbl.

September 12, 2012

Broad Double-Digit Cash Jump Follows Advancing Futures

Cash market quotes bounded higher Tuesday even though traders saw little in the way of increased loads or fundamental changes in the market. Average gains at all points were more than 16 cents and Northeast points were the softest but they advanced over a dime.

May 2, 2012

Cash Firms, Yet Futures Flounder

Physical natural gas prices Tuesday bounded higher, led by expectations of significant drops in temperatures and stout power prices. Futures headed south as traders factored in expectations of storage data expected to swell the surplus still further. March slumped 7.8 cents to $2.472 and April skidded 11.0 cents to $2.628. March crude oil rose $1.50 to $98.41/bbl.

February 8, 2012

North Dakota Approves 30,000-Acre Production Unit

The North Dakota Industrial Commission on Tuesday approved a 30,000-acre single oil production unit in an area bounded by a state park and river in the west-central part of the state. The vote was unanimous to allow the atypically large production unit, which is intended to better protect the environment, a commission spokesperson told NGI’s Shale Daily.

December 22, 2011

Driven by Crude, Gas Futures Jump 21.9 Cents

Despite the release of a storage withdrawal that was inline with expectations, April natural gas futures bounded higher Thursday, seemingly on continued strength in the petroleum complex. April natural gas rose 21.9 cents to $10.230, and the May contract rose 22.8 cents to finish at $10.306. April crude oil rose 41 cents to $110.33 after trading as high as $111.00, another record.

March 14, 2008

December Futures Defy Gravity, Gain 30.7 Cents After EIA Supply Stats

December natural gas futures bounded higher in active trading Thursday in spite of inventory data that placed supplies at record levels. The Energy Information Administration (EIA) reported working-gas supplies rose a hefty 66 Bcf, well above the mid 50 Bcf expected by the industry.

November 2, 2007