The market demonstrated once again Thursday that widespread severe cold is not necessarily a gas price booster. Prices dropped at nearly all points as two prior days of major futures weakness took their toll on the cash market. Increased use of storage was still believed to be supplanting potential new purchases of spot gas, and while frigid weather will last into the weekend in northern market areas, it would be less cold than before in many sections.
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Warming Trends Keep Prices Falling at Most Points
Prices dropped at nearly all points Tuesday as moderating weather trends were expected to continue in the South, Northeast, Rockies/Pacific Northwest and parts of the Midwest. A 4-cent decline by January futures a day earlier contributed a modest amount of bearishness to the cash market.
December 24, 2008
Falling Wholesale Prices Prompt Idaho PUC to Cut Rate Hike
About half of an annual natural gas cost offset rate increase for Intermountain Gas Co., which was effective last Oct. 1, will be dropped Nov. 15 due to recent large decreases in the wholesale cost of gas.
November 17, 2008
Futures Sink as Longs Feel the Squeeze
Capitalizing on Tuesday’s downward momentum, December natural gas futures dropped another 30 cents Wednesday to close at $6.405 as rumors swirled that longs were getting squeezed out of their positions.
November 13, 2008
Dominion’s Realignment Cuts Profit 78%; Still Beats Guidance
Without the gain from the sale of nearly all of its exploration and production (E&P) assets a year ago, Dominion’s 3Q2008 net income dropped 78%, the company reported late last week. The diversified Richmond, VA-based energy producer and transporter said that despite the sharp drop, it still beat its guidance for the quarter.
November 3, 2008
Dominion’s Realignment Cuts 3Q Profit 78%; Still Beats Guidance
Without the gain from the sale of nearly all of its exploration and production (E&P) assets a year ago, Dominion’s 3Q2008 net income dropped 78%, the company reported Thursday. The diversified Richmond, VA-based energy producer and transporter said that despite the sharp drop, it still beat its guidance for the quarter.
October 31, 2008
Softness Continues at Most Points, But Screen Gain May Rally Cash
Most of the cash market dropped again Thursday, pressured lower by Wednesday’s third straight day of futures weakness and unable to rebound despite increases of cooling load in some areas.
July 11, 2008
Only Frigid Western Canada Avoids Overall Drops
As a marketer had predicted the day before, cash prices dropped at nearly all points Friday. The softness was due to moderate weather conditions typical of a shoulder month being prevalent in most regions, Thursday’s nickel dip by May futures and the decline of industrial load during a weekend.
April 21, 2008
Trading Range Seen as Futures Drop Nearly a Dime
While May natural gas futures dropped 9.4 cents Tuesday to close at $9.697, energy traders and analysts were more focused on the news that seven people were charged with illegal trading on the New York Mercantile Exchange, some for their dealings in natural gas futures.
April 9, 2008
Spring Is Sprung; All Prices Are Pressed Lower
Perhaps befittingly for the first day of spring, cash prices dropped by double-digit cent amounts across the board Thursday. They were dragged down by forecasts of moderate weather across the southern half of the U.S. and in much of the West, the previous day’s 39-cent dive by April futures, and the extra decline of industrial load associated with a long holiday weekend.
March 24, 2008
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