Dose

As much of the eastern half of the United States braces for its second dose of significant summer temperatures Thursday, cash prices for much of the country on Wednesday soared between a dime to more than a dollar, with the Northeast region continuing to come in on the high side of the day’s gains.

Oil and natural gas producers got a dose of good news Wednesday when the House Appropriations Committee released its fiscal year (FY) 2012 spending bill for the Interior Department, Environmental Protection Agency (EPA) and related agencies.

With another dose of winter storms and chilly temperatures for much of the country set for later in the week, January natural gas futures — which expire on Tuesday — rebounded on Monday to put a six in front of a prompt-month contract’s price for the first time in almost a year. The contract notched a $6 high in afternoon trading before closing out the regular session at $5.990, up 34.7 cents from last Thursday’s close.

High heat levels that kept air conditioners humming in many areas, plus a large dose of prior-day support from Tuesday’s gain of nearly 29 cents by August futures, led to higher cash prices at most points Wednesday. Northeast citygates constituted a conspicuous exception as the region is in transition from early week highs in the 90s to peak temperatures on either side of 80 degrees Thursday.

Natural gas bulls were licking their lips following the long holiday weekend as weather forecasters Monday were calling for a significant dose of cold Canadian air to sweep across the country from west to east this week. Opening higher following the overnight trading Sunday, December natural gas futures on Monday put in a high of $8.025 before settling at $7.998, up 28 cents on the day.

The United States may have a natural gas supply “problem” on the horizon, but the biggest dilemma now is how consumers will reconcile their growing demand for gas with their environmental beliefs, Questar Corp. CEO Keith O. Rattie said Wednesday.

The United States may have a natural gas supply “problem” on the horizon, but the biggest dilemma now is how consumers will reconcile their growing demand for gas with their environmental beliefs, Questar Corp. CEO Keith O. Rattie said Wednesday.

Veterans of Canada’s Atlantic industry administered a stiff dose of realism when the national expert panel on science issues rendered a verdict on technical aspects of plans to open up Pacific coastal waters offshore of British Columbia to natural gas development.

Veterans of Canada’s Atlantic industry administered a stiff dose of realism when the national expert panel on science issues rendered a verdict on technical aspects of plans to open up Pacific coastal waters offshore of British Columbia to natural gas development.