Depressed by a dearth of weather-based demand and given negative guidance by two previous days of futures losses, the cash market continued to see mixed price movement Wednesday that nevertheless signaled growing weakness. The impressive Rockies spikes of Tuesday gave way to even larger losses in most cases Wednesday, while most other points recorded considerably more moderate declines.
Depressed
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EIA: Starting Winter Storage to Hit Highest Level in 16 Years
Working gas inventories are expected to start this upcoming winter heating season at the highest mark since 1990, keeping gas prices at depressed levels in comparison to prior years, according to the Energy Information Administration’s (EIA) Short-Term Energy Outlook for September that was issued last Tuesday.
EIA: Starting Winter Storage to Hit Highest Level in 16 Years
Working gas inventories are expected to start this upcoming winter heating season at the highest mark since 1990, keeping gas prices at depressed levels in comparison to prior years, according to the Energy Information Administration’s (EIA) Short-Term Energy Outlook for September.
NGI The Weekly Gas Market Report
Raymond James: 1Q Production Rise Doesn’t Affect Price
Natural gas prices will remain depressed relative to crude oil through the summer, but as the gas storage surplus is worked off, Raymond James & Associates Inc. expects a gas price rebound to the traditional 6:1 oil-gas ratio heading into 2007.
Raymond James Finds Modest 1Q Production Growth
Natural gas prices will remain depressed relative to crude oil through the summer, but as the gas storage surplus is worked off, Raymond James & Associates Inc. expects a gas price rebound to the traditional 6:1 oil-gas ratio heading into 2007.
NGI The Weekly Gas Market Report
Analyst: Sustained GOM Shut-ins Weighed on 4Q, Annual Gas Output
Sustained shut-in production in the Gulf of Mexico (GOM) in the final quarter of 2005 depressed U.S. natural gas production 1.4% sequentially and 6.5% year-over-year, according to a survey by the Gerdes Group of 42 of the largest public exploration and production (E&P) companies.
Analyst Says Sustained GOM Shut-ins Weighed on 4Q, Annual Gas Output
Sustained shut-in production in the Gulf of Mexico (GOM) in the final quarter of 2005 depressed U.S. natural gas production 1.4% sequentially and 6.5% year-over-year, according to a survey of 42 of the largest public exploration and production (E&P) companies by the Gerdes Group.
Cash Prices Extend Slide Through Weekend
A screen plunge of nearly 90 cents the day before virtually assured further cash softness Friday, but the physical market also was depressed by moderating trends from the heating load created by widespread severely cold weather in the first half of the week and by the drop in industrial load that occurs over a weekend.
Most Holiday Weekend Prices Fall; Bidweek Quotes Weaker; Tropical Storm Delta Not a Threat to Gulf
Modest gains at a few Gulf Coast points prevented across the board weakness in Thanksgiving Eve spot prices. The OFO-depressed West led an overall slide Friday that was attributed to forecasts of slight moderation of cold temperatures in northern market areas and the extra loss of industrial load over a four-day holiday weekend.
Puget Energy Establishes Modest Earnings Targets for Next Two Years
Following a depressed 2004 earnings report earlier in the year, Bellevue, WA-based Puget Energy’s senior management Thursday issued somewhat modest earnings guidance for this year and next, in the $1.30/diluted share to $1.55/diluted share range. The company set an Internet-based webcast for 10 a.m. EST Friday in which the CEO and CFO will discuss the latest estimates (www.pse.com).