The downhill slope for late-April swing prices got even slipperier in many cases Tuesday. In a delayed response to the expiration-day plunge in May futures and cognizant of the dearth of weather-related load in virtually every market, month-ending prices fell between about a dime and more than half a dollar, with San Juan gas again joining the Rockies in taking the biggest hits.
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Canadian Aboriginals Seek More Government Involvement in Land Use Cases
While a breakthrough in aboriginal relations is about to dismantle a long-standing political obstacle to natural gas production and pipeline development in the Northwest Territories, the Canadian government and the industry stand warned that the problem of accessing native territory and rights could escalate.
Canadian Aboriginals Seek More Government Involvement in Land Use Cases
While a breakthrough in aboriginal relations is about to dismantle a long-standing political obstacle against natural gas production and pipeline development in the Northwest Territories, the Canadian government and the industry stand warned that the problem of accessing native territory and rights could escalate.
Snowy Rockies Relatively Firm; Most Points Fall 10-25 Cents
In most cases the cash market was giving back Tuesday about as much or more than it had realized in Monday’s gains. Losses ranged from minimal in the Rockies to about 40 cents or so. Those in the range of 10-25 cents were in the majority.
Cash Prices Continue to Soar, But May Be Peaking
The cash market pushed on to new heights in most cases Tuesday, spurred by Nymex matching its all-time open outcry record high of $10.10 — if only fleetingly — and continuing winter weather across most of the U.S. and Canada that was penetrating even farther south to Houston and South Texas. It appeared that a growing near-panic over the adequacy of storage inventories was the primary driving force behind the move higher that brought some new point-specific price records.
New England Spikes Lead Advance in Cash Prices
Prices rose across the board Wednesday between about a dime and 30 cents in most cases, fueled by the approach of cold fronts in the Northeast and Midwest and feeding somewhat off the previous day’s screen gain of nearly 20 cents. New England citygates were overachievers with upticks approaching half a dollar.
Warmer Weather Pushes All Non-Rockies Prices Lower
In a market practically mandated by the weather forecasts, non-Rockies prices dropped by double-digit amounts in nearly all cases Friday. A winter storm approaching the upper Rocky Mountains from Northern California and the Pacific Northwest boosted area load enough to keep most Rockies points flat to mildly lower and even raise numbers at the highly temperature-sensitive Cheyenne Hub.
Prices Still Rising as Cold Spreads, But Uptick Pace Slows
Prices were still moving higher in most cases Tuesday, but generally at a slower pace than on the day before. Markets as disparate as citygates in Florida and the Northeast, San Juan Basin and the Pacific Northwest/Western Canada were still seeing double-digit gains of up to about a quarter, with Algonquin citygates averaging a little more than $5. But a majority of points ranged from flat to up about a dime, with gains of a nickel or less prevalent.
Prices Flatten Out in Most Cases for Second Time in Week
Much like on Tuesday, most of the cash market tended to level off Thursday. Unlike Tuesday’s trading that brought an upturn largely to a halt, however, Thursday’s numbers arrested a price slide. With a modest bias to the downside, nearly all points ranged from flat to up or down about a nickel Thursday. Only San Juan-Blanco’s drop of about a dime broke the overall price mold.
Prices Up Mildly as New Depression Forms in Gulf
Prices ranged from flat to about a dime higher in nearly all cases Thursday. Most gains were generally small at around a nickel or less. Only San Juan Basin and Iroquois Zone 2 recorded marginal losses of 2-3 cents.