Natural gas futures dropped a second consecutive day on Wednesday but some veteran market watchers remained unimpressed, noting that they believe the near-term bottom to the market at $3.810 was recorded last Thursday.
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AGA Says 2009 Gas Production, Reserves Soared While Prices Tanked
The recent proliferation of shale and tight sands natural gas development has boosted U.S. natural gas reserves for the eleventh consecutive year to 245 Tcf — the highest level in more than 35 years, according to American Gas Association’s (AGA) year-end 2009 data. “Something is obviously positive in the domestic reserves and production story,” the association said.
Index of Texas Energy Health Improves for Second Month
The Texas Petro Index (TPI) rose for the second consecutive month to 191.6, following a 14-month string of declines, said the Texas Alliance of Energy Producers. TPI rose from 188.2 in December to 189.1 in January to the latest TPI of 191.6 in February. However, the index remains 27.5% below its level of 264.4 a year ago.
AGA Says 2009 Gas Production, Reserves Soared While Prices Tanked
The recent proliferation of shale and tight sands natural gas development has boosted U.S. natural gas reserves for the eleventh consecutive year to 245 Tcf — the highest level in more than 35 years, according to American Gas Association’s (AGA) year-end 2009 data. “Something is obviously positive in the domestic reserves and production story,” the association said.
Index of Texas Energy Health Improves for Second Month
The Texas Petro Index (TPI) rose for the second consecutive month to 191.6, following a 14-month string of declines, said the Texas Alliance of Energy Producers. TPI rose from 188.2 in December to 189.1 in January to the latest TPI of 191.6 in February. However, the index remains 27.5% below its level of 264.4 a year ago.
Gas Supply Situation Keeps Prices Spiraling Lower
Front-month natural gas futures spent their second consecutive day below $4 as traders continued to come to the realization that the United States might be working its way into an oversupplied situation. One day ahead of expiration, the April contract reached a low of $3.863 on Friday before closing at $3.872, down 10.9 cents from Thursday’s close and 29.7 cents lower than the previous week’s finish.
Gas Supply Situation Keeps Prices Spiraling Lower
Front-month natural gas futures spent their second consecutive day below $4 as traders continued to come to the realization that the United States might be working its way into an oversupplied situation. One day ahead of expiration, the April contract reached a low of $3.863 on Friday before closing at $3.872, down 10.9 cents from Thursday’s close and 29.7 cents lower than the previous week’s finish.
March Out With a Gain as Traders Expect Bullish EIA Report
March natural gas futures managed to climb into the plus column Wednesday in its last trading day following four consecutive days of losses.
March Out With a Gain as Traders Expect Bullish EIA Report
March natural gas futures managed to climb into the plus column Wednesday in its last trading day following four consecutive days of losses.
Moderating Weather Forecasts Weigh on Futures; March Slips 11.7 Cents
One day after breaking below psychological support at $5, March futures values on Tuesday notched their fourth consecutive day lower, leaving market watchers wondering what would be in store for the contract’s expiration on Wednesday. The prompt-month contract reached a low of $4.773 before closing Tuesday’s regular session at $4.778, down 11.7 cents from Monday’s finish. With that, the contract has plummeted 66.8 cents over the last four regular sessions.