The physical natural gas cash market fell on average by 2 cents Wednesday as traders noted continuing weather-derived weakness at Northeast points. The Midwest was mixed and Gulf points eased a couple of pennies. The spot July contract was finally able to breach the $4.00 barrier and settled 0.3 cent higher at $4.001. August finished unchanged at $4.015, and July crude oil added 43 cents to $93.74/bbl.
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Cash prices eased 4 cents overall Tuesday with pronounced weakness seen at Northeast points as well as the Midcontinent. Gulf points were mostly steady. At the close of uninspired futures trading, July had added 0.7 cent to $3.998 and August had managed to rise by 0.6 cent to $4.015. July crude oil slipped 14 cents to $93.31/bbl.
Cash natural gas prices fell 6 cents Monday, led by multi-dollar declines at Northeast points. East points were soft as well, and California locations were mixed. At the close of futures trading, July had added 0.7 cent to $3.991 and August was higher by 0.6 cent to $4.009. July crude oil added $1.48 to $93.45/bbl.
Natural gas cash prices overall for weekend and Monday delivery played catch-up with Thursday’s screen decline and dropped on average approximately 16 cents nationally. Volatile Northeast and eastern locations led the slide and double-digit declines were common.
Overall natural gas cash prices rose by 5 cents on average Wednesday as quotes were boosted by soaring eastern power prices and underlying forecasts of temperatures as much as 20 degrees above normal. Dollar-plus gains occurred at Northeast points and in the Mid-Atlantic, prices were well bid as well. Great Lakes and Midwest points were also firm. At expiration June futures had limped off the board losing 2.6 cents to $4.155, and July fell 4.0 cents to $4.184. July crude oil lost $1.88 to $93.13/bbl.
After disconcerting Utica Shale production figures were released earlier this month by Ohio regulators, industry analysts said they were disappointed with the results of the first two test wells Halcon Resources Corp. drilled in the play, and EV Energy Partners (EVEP) said it is continuing to look for buyers interested in its holdings there.
Cash natural gas prices fell a nickel overall Thursday as traders elected to get most of their deals done ahead of the usual volatility following the release of government inventory data.
Natural gas cash prices overall added just a half-cent Wednesday as temperatures were forecast to take a dive over the next several days. Midwest and Great Lakes points were higher by a couple of pennies, but Northeast and eastern locations eased. At the close of trading, June futures had fallen 0.6 cent to $4.186 and July was off 0.6 cent as well to $4.233. July crude oil tumbled $1.90 to $94.28/bbl.
Natural gas cash prices nationally added on average a nickel in Tuesday’s trading as traders are beginning to see the dynamic of warm weather generating additional power generation requirements from gas-fired plants.