Directions

Beset by negative influences from several directions, prices plummeted across the board Friday with drops approaching or exceeding a dollar in many instances. But hold the phone on those predictions earlier this week that there was almost no chance of a cash market rally between now and the end of the month. One appeared to be shaping up for Monday’s trading.

Consultants at Wakefield, MA-based Energy Security Analysis Inc. (ESAI) said Tuesday that continuing weakness in the crude oil market should put downward pressure on natural gas prices, but fears of a cold snap and recent winter market history are expected to provide strong support at around $6.50/MMBtu.

Consultants at Wakefield, MA-based Energy Security Analysis Inc. (ESAI) said Tuesday that continuing weakness in the crude oil market should put downward pressure on natural gas prices, but fears of a cold snap and recent winter market history are expected to provide strong support at around $6.50/MMBtu.

Sections of the market were moving in different price directions again Friday, a day after all points were united in getting crushed. The West and Midcontinent/Midwest, which can expect some heating load as this week begins, saw quotes rise by as much as 60 cents. But the Gulf Coast and Northeast, where temperatures are expected to remain unseasonably mild, recorded losses at most points that ranged to nearly 40 cents.

Sections of the market were moving in different price directions again Friday, a day after all points were united in getting crushed. The West and Midcontinent/Midwest, which can expect some heating load as this week begins, saw quotes rise by as much as 60 cents. But the Gulf Coast and Northeast, where temperatures are expected to remain unseasonably mild, recorded losses at most points that ranged to nearly 40 cents.

The Alberta Energy Resources Conservation Board made it official last week, confirming independent reports that the province, the mainstay of Canadian natural gas, has passed a historic turning point, with aging fields past their prime entering a long-range decline. At the same time the province moved to shut in some gas production to protect its oil potential.

The Alberta Energy Resources Conservation Board made it official last week, confirming independent reports that the province, the mainstay of Canadian natural gas, has passed a historic turning point, with aging fields past their prime entering a long-range decline. At the same time the province moved to shut in some gas production to protect its oil potential.

The post-holiday market had a little something for everybody’s tastes Monday. Like big upticks? Go west, young man (or woman). Prefer more moderate but still sizeable gains? The Midcontinent was the place to be. How about you ambivalent types that like to mix it up? The Gulf Coast and Midwest citygates were the regions to trade, although losses outweighed the gains. And for the pure bears out there, it didn’t get any more price-negative than in the Northeast.

Much of the cash market “followed the screen” essentially nowhere as flatness dominated at a majority of points Thursday. However, there were pockets of price movement here and there. The Northeast and PG&E-related California points weakened by as much as the teens, while San Juan/Rockies/Pacific Northwest quotes rose by a nickel or more. In addition, several scattered Gulf Coast and Midcontinent points defied the overall flat trend with upticks or downticks of up to a dime.