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Generally moderate weather predictions, such as the Chicago area reaching the low to mid 50s Tuesday, didn’t suggest any likelihood of spot prices increasing Monday. But cash traders either thought otherwise or were looking ahead to near the end of the week, when cold fronts would be moving into such areas as the Midwest.

Current weather didn’t seem cold enough to justify the substantive gains realized Tuesday at nearly all points as many — but not all — traders returned to their offices from the Christmas holiday weekend. They may have been stocking up a bit in looking forward to the first week of January, when some predict a boost in heating load from the return of cold weather.

Shale natural gas has dramatically transformed the outlook for U.S. energy supplies and is having “profound” economic impacts on creating jobs and stimulating growth, as well as bolstering tax revenue and reducing consumer energy costs, according to a study by IHS Global Insight.

The 2011 Atlantic Hurricane season didn’t bring many tropical storms to Gulf of Mexico (GOM) energy interests or the North American mainland, but it did produce the third-highest number of tropical storms since records began in 1851 and continued a trend of active hurricane seasons begun in 1995, according to the National Oceanic and Atmospheric Administration (NOAA).

The 2011 Atlantic Hurricane season didn’t bring many tropical storms to Gulf of Mexico (GOM) energy interests or the North American mainland, but it did produce the third-highest number of tropical storms since records began in 1851 and continued a trend of active hurricane seasons begun in 1995, according to the National Oceanic and Atmospheric Administration (NOAA).

Chevron Corp. spud its first well during the third quarter in Alberta’s promising Duvernay Formation, CFO Pat Yarrington said Friday.

Operations at two Northeast Natural Energy (NNE) natural gas wells in the Marcellus Shale near Morgantown, WV, have been delayed while the company awaits the arrival of a service rig.

Cash gas prices joined an overall rally in the stock and commodities markets Tuesday with flat to higher showings at all locations. Fundamentals didn’t seem to justify the modest strength as forecasts were seasonal for early August or slightly cooler in many areas, but there was no denying that buyers dominated Tuesday trading.

Less than a month after Australian energy giant BHP Billiton Ltd. disclosed plans to purchase Petrohawk Energy Corp., the Houston-based company announced Wednesday that 2Q2011 production grew 15% and revenues shot up 21% from the previous quarter, propelling the company to huge profits.