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Capping another tumultuous trading week, the natural gas futures market tumbled lower on New Year’s Eve in selling surges both before and after the release of bearish storage data featuring a paltry 80 Bcf net withdrawal. Within minutes of the report’s release, the February contract dropped to $6.05 — 90 cents off the spike high carved out less than 24 hours earlier.

Though a casual look at the 4.7-cent increase and $4.677 close in September futures might suggest the trading action was price-supportive Tuesday, that analysis fails to take into account the myriad of factors that paint a decidedly bearish picture of the trading session. Not only did the natural gas futures market fail to keep pace with crude oil prices Tuesday, but it also lacked any substantial buying boost after probing down to key support at $4.60 on Monday. At 51,457, estimated volume was also weak, evidence that the market is without a clear consensus.

Price spikes for North American natural gas could continue if the exploration and production (E&P) industry does not increase drilling activity, Standard & Poor’s Ratings Services (S&P) said in its latest Oil & Gas Report Card.

Price spikes for North American natural gas could continue if the exploration and production (E&P) industry does not increase drilling activity, Standard & Poor’s Ratings Services (S&P) said in its latest Oil & Gas Report Card.

Interstate natural gas pipelines signaled their support last week for FERC’s proposed rule that would clear the way for them to quickly rebuild their facilities in the wake of deliberate damage or other types of disasters, but they believe the agency can and should go further.

A large portion of federal lands are classified as “available” and open to energy exploration and development, but oil and natural gas producers still can’t drill on the lands due to the number of obstacles they face, the head of the Independent Petroleum Association of Mountain States (IPAMS) told a Senate panel last Thursday.

A large portion of federal lands are classified as “available” and open to energy exploration and development, but oil and natural gas producers still can’t drill on the lands due to the number of obstacles that they face, the head of the Independent Petroleum Association of Mountain States (IPAMS) told a Senate panel Thursday.

The difficulty in determining savings from switching to another supplier can be the primary reason for not participating in customer choice programs. But a new handy calculator on the Ohio Consumers’ Counsel (OCC) web site (www.pickocc.org) makes the math easy for residential customers.

“If economic activity does not rebound and we have a warm winter, perhaps a price spike can be averted one more year, thanks to the storage overhang,” Peoples Energy Chairman Thomas Patrick predicted, but the overall trend is toward greater demand and declining supply.