The “emotional stage” of the current crisis over skyrocketing oil prices is easing, New York Mercantile Exchange (Nymex) CEO James Newsome said during an earnings conference call last Thursday, and he expects to see more generalized energy measures proposed when Congress returns from its August recess.
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Nymex’s Newsome Sees ‘Emotional Stage’ of Oil Price Crisis Waning
The “emotional stage” of the current crisis over skyrocketing oil prices is easing, New York Mercantile Exchange (Nymex) CEO James Newsome said during an earnings conference call Thursday, and he expects to see more generalized energy measures proposed when Congress returns from its August recess.
EIA Estimates for U.S. Production Growth Up, Demand Down
Domestic natural gas supply projections inched upward while imported liquefied natural gas (LNG) and overall consumption growth estimates were easing down in the latest predictions for 2008 natural gas, reported by the Energy Information Administration (EIA) in its March Short-Term Energy Outlook released last Tuesday. Price projections also were up.
EIA Estimates for U.S. Production Growth Up, Demand Down
Domestic natural gas supply projections inched upward while imported liquefied natural gas (LNG) and overall consumption growth estimates were easing down in the latest predictions for 2008 natural gas, reported by the Energy Information Administration (EIA) in its March Short-Term Energy Outlook released Tuesday. Price projections also were up.
Futures Stage a Rally, But Close Only a Few Pennies Higher
April natural gas futures climbed in Friday morning trade to record a high for the week of $6.810 before easing off in the afternoon. The prompt-month contract ended up settling at $6.646, up 4.5 cents on the day and 14.4 cents lower than the previous week’s close.
EIA Sees ‘Noticeable Easing’ in Spot Prices in 2006
This year will see a “noticeable easing” in spot natural gas prices, leading to an annual average decline in the Henry Hub price of about 10%, but the respite is expected to be short-lived, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for March.
Unseasonably Warm Temperatures Take Focus Off Gas Supply — Temporarily
Despite the official start of the winter season on Dec. 21, temperatures for a majority of the United States have been anything but winter-like so far, easing the perceived pressure on the natural gas supply/demand balance. As a result, natural gas futures prices through Tuesday had fallen $4.758 from the January contract’s all-time high of $15.780 on Dec. 13, which might just help consumers a little with their winter utility bills down the road.
INGAA Official Says Focus Should Be on Energy Workers to Restore Production
To restore oil and natural gas production in the wake of Hurricane Katrina, the energy industry and federal government must focus on easing the plight of energy workers in Louisiana, Mississippi and Alabama, many of whose homes have been destroyed and/or are under water, so that they can return to platforms and drilling rigs, said a top official with a major pipeline group.
PG&E Sees Lower Winter Retail Gas Bills in February
With some national predictions for an easing of natural gas prices in the last weeks of winter, Pacific Gas and Electric Co. predicted lower retail utility bills for its gas customers this month, noting it expects the average utility bill to drop 17% in February, compared with January gas bills. The utility cited reduced wholesale prices and lower demand by customers.
Overall Gains See NYC Hit $20; Some West Points Fall
Although cold temperatures were easing off a bit in some of the southernmost states, there was still plenty of weather-related demand elsewhere to keep prices on the rise at most points Wednesday. The Northeast, with Transco Zone 6-New York City peaking at $20, continued to lead the general price parade higher, with most non-Northeast points ranging from about a nickel to 60 cents higher.