Capping off a string of regulatory actions that have been favorable to the oil and natural gas industry — and somewhat embarrassing to the Environmental Protection Agency (EPA) — the regulator last week delayed the release of final air pollution standards for hydraulic fracturing (fracking).
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Air Pollution Rules for Fracking Delayed; EPA Backing Off Investigations
Capping off a string of regulatory actions that have been favorable to the oil and natural gas industry — and somewhat embarrassing to the Environmental Protection Agency (EPA) — the regulator has said it will delay the release of final air pollution standards for hydraulic fracturing (fracking) for two weeks.
Air Pollution Rules for Fracking Delayed; ‘EPA Has Egg on Its Face’
Capping off a string of regulatory actions that have been favorable to the oil and natural gas industry — and somewhat embarrassing to the Environmental Protection Agency (EPA) — the regulator has said it will delay the release of final air pollution standards for hydraulic fracturing (fracking) for two weeks.
GOP Efforts to Water Down Derivatives Reform Defeated
Capping a full day of debate on the financial regulatory reform bill Wednesday, the Senate fought back Republican efforts to strike a provision that would force large banks and financial institutions to spin off their lucrative derivatives business.
Futures Hover Near $9 Following Supportive Storage Withdrawal
Capping off a topsy-turvy holiday-shortened week of natural gas futures trading, the April contract attempted to work lower Thursday morning before being propped up by a fairly supportive 85 Bcf storage withdrawal report. The prompt-month contract put in a low of $8.700 before settling at the $9.065 high on the day, up 4.1 cents from Wednesday, but 81.3 cents lower than the previous week’s finish.
Key Vote Wednesday on Contentious House Energy Bill
Capping off two grueling days of markup, Rep. Nick Rahall (D-WV), chairman of the House Natural Resources Committee, announced last Thursday that the “last and most important votes” on his controversial energy policy reform bill (HR 2337) would be delayed for nearly a week — until this Wednesday. The delay offered the energy industry the chance to make one last pitch to committee members to change their minds and votes on a measure that has the potential to significantly impact oil and natural gas supply and prices.
Withdrawal of 123 Bcf Gets Lost in the Surplus; Traders Eye March Expiration
Capping off a wild day that included a natural gas storage report and the expiration of March options, March natural gas retested the sub-$7 mark on Thursday only to find that support still resides in the area. Late in the session, the prompt month punched higher on a run of buying, putting in a high of $7.600 before settling at $7.458, up 17.5 cents from Wednesday’s close.
Despite New Highs Tuesday, Futures Settle Week Lower
Capping a wild week of trading that saw a new all-time prompt month high and settle, January natural gas futures recorded their third consecutive down day Friday, stamping the week’s overall trend as weak. The prompt month Friday closed out the week at $13.633, down 14.8 cents on the day and 67.9 cents lower than the previous Friday’s close.
Futures Remain Below $6 Ahead of Weekend
Capping off a wild week that started Monday with a 28.4-cent futures drop to sub-$6 levels, August natural gas futures decided to take somewhat of a breather Friday, closing up 4.1 cents at $5.887. On Thursday, the prompt month reached its low for the week by trading off to $5.805.
Natural Gas Futures Detach from Crude, If Only for a Day
Capping off a wild week of trading that saw wide swings, the June natural gas futures contract finished the week at $6.353, down 4.8 cents from last Friday’s $6.401 close. The big news on Friday was the strength of natural gas, despite a crude futures sell-off.