Consecutive

Natural gas futures followed big brother crude’s lead lower for a second consecutive session, which had at least one veteran broker questioning the safety of the natural gas $3.155 low for the move recorded back on April 27. August natural gas futures shaved 5.8 cents during Tuesday’s regular session to close at $3.429.

Natural gas and oil exploration and development in Texas continued to decline through March for the fifth consecutive month, sustaining a trend that may lead to severe job losses in the state and ultimately skyrocketing energy prices, energy economist Karr Ingham said Monday.

Even as the front-month futures contract recorded a third consecutive day of gains on Wednesday, market watchers were under no illusion that the trend would gain any sort of real momentum to pull prices up from their six-and-a-half-year low. The May contract closed Wednesday’s regular session at $3.693, up four-tenths of a penny.

The drop in natural gas and oil exploration and development across Texas continued in February for the fourth consecutive month, the Texas Petro Index (TPI) reported Thursday.

Recording their second consecutive volatile reaction to a natural gas storage report (see Daily GPI, April 3), May natural gas futures on Thursday morning traded violently up and down surrounding the news that 20 Bcf was injected into underground inventories for the week ending April 3. Following the two-minute mayhem, the prompt-month contract resolved lower before closing the session at $3.610, down only two pennies from Wednesday’s finish but 19.1 cents lower than the previous week’s finish.

The drop in natural gas and oil exploration and development across Texas continued in February for the fourth consecutive month, the Texas Petro Index (TPI) reported Thursday.

May natural gas futures recorded their second consecutive “quiet” session on Tuesday, but one broker noted that increased volatility is likely ahead once the liquefied natural gas (LNG) supply, demand and price dynamics play out as early as this summer. Front-month natural gas closed 3.7 cents higher Tuesday at $3.776.

Natural gas futures on Tuesday strung together their fourth consecutive day of gains as the April contract rose 5.3 cents to close at $4.347. The gains continued despite dominant bearish fundamentals, but one trader was quick to note that the “futures market is not called the current market.”

August natural gas futures continued lower Friday and ventured briefly below $9 for a second consecutive session before closing at $9.084, down 23.9 cents from Thursday and $1.486 lower than the previous week’s finish. Despite the month-long plunge, some traders are noticing some significant buying efforts as people attempt to bargain hunt.