Dissipate

The 2011 Atlantic hurricane season during its first nine weeks has thrown little tropical activity at the U.S. mainland and energy interests in the Gulf of Mexico, but it has produced five named storms, and the National Oceanic and Atmospheric Association (NOAA) expects as many as 14 more named storms to form this year.

A current worldwide oversupply of natural gas may dissipate as early as the winter of 2012, leading to the potential for spot prices higher than contract prices in Asia and Europe, according to analysts at Wood Mackenzie.

A current worldwide oversupply of natural gas may dissipate as early as the winter of 2012, leading to the potential for spot prices higher than contract prices in Asia and Europe, according to analysts at Wood Mackenzie.

As any real sign of true cold in the near-term weather forecast continued to dissipate Thursday, natural gas futures bears continued to have their way as the December contract probed lower values. Despite a $2.08/bbl increase in December crude on the day, December natural gas ended up dropping 8.7 cents to finish at $6.318.

Temperature forecasts for the next three months (July-September) show above normal heat continuing in California, the Southwest, Rockies and Midwest but dissipating to below normal levels in the Northeast, Pacific Northwest, the southern Plains, Texas and the Southeast, according to WSI Corp.’s end-of-June update to its seasonal forecast.