FERC staff on Friday released a favorable environmental assessment (EA) of Tennessee Gas Pipeline LLC’s (TGP) proposed Broad Run Expansion project, which would move Marcellus Shale natural gas from West Virginia to delivery points along the Gulf Coast.
Articles from Broad
Overall, cash prices fell 3 cents Friday in a broad retreat as only a handful of points made it to the positive side of the trading ledger. Offsetting the pervasive selling was the Northeast, which scored double-digit gains. Eastern locations were mixed, but the Rockies and major market trading points fell hard. At the close of futures trading, July had fallen 10.6 cents to $3.771 and August was down 10.6 cents as well to $3.793. August crude oil continued its losing ways, giving up $1.45 to $93.69/bbl.
The cash market Wednesday staged a broad rally of 15 cents with only a half-dozen points falling into the loss column as Old Man Winter refused to let go even with the first day of spring only a week away.
The Interior Department’s Bureau of Land Management (BLM) Tuesday released its first-ever rapid ecoregional assessment (REA), which takes a broad look at the ecology of the Colorado Plateau.
Physical natural gas prices Wednesday eased a couple of pennies in an overall broad decline. However, if volatile New England points on pipelines such as Iroquois, Algonquin, and portions of Tennessee are factored in, the decline is 27 cents. No more than a handful of locations were able to post gains. At the close of futures trading March had added 7.6 cents to $3.306 and April was up by 7.5 cents to $3.371. March crude oil slipped 50 cents to $97.01/bbl.
Physical natural gas prices continued their broad retrenchment Thursday with New England and Mid-Atlantic locations continuing their dollar-plus declines. Pipeline delivery points servicing New York and Boston were particularly hard hit, and on average the market fell about a quarter. Take away the Northeast and the overall average drops to a 12-cent decline. February futures fell 3.5 cents to $3.198, and March shed 4.1 cents to $3.214. February crude oil lost 20 cents to $92.92/bbl.
Cash market prices fell just over a nickel on average Wednesday as weakness at Northeast points led a broad retreat. Natural gas futures were even softer. At the close January futures had fallen 9.8 cents to $3.320 and February sank 8.9 cents to $3.366. January crude oil added $1.58 to $89.51/bbl.
Cash prices overall staged a broad rally Monday with an average gain in the double digits. Northeast and West Coast points were notably strong as power generation was reported as lean and next-day loads were forecast to increase. Gulf and eastern locations were also strong. At the close of trading December futures had fallen 7.1 cents to $3.719 and January had lost 6.7 cents to $3.837. January crude oil vaulted $2.36 to $89.28/bbl.
With the exception of a few Northeast points, physical prices staged a broad rally Tuesday, averaging gains of nearly 11 cents. Moderating temperatures in New England prompted lower quotes on Northeast pipes, and futures managed to join in the rally as well. At the close of futures trading August had gained 7.0 cents to $3.187 and September had risen 6.6 cents to $3.177. September crude oil added 36 cents to $88.50/bbl.