Evans

July natural gas is expected to open 6 cents higher Wednesday morning at $2.91 as weather forecasters were expecting a more extended period of heat to prevail in the Southeast. Overnight oil markets vaulted higher.

July natural gas is expected to open 6 cents higher Wednesday morning at $2.91 as weather forecasters were expecting a more extended period of heat to prevail in the Southeast. Overnight oil markets vaulted higher.

The expiring March natural gas futures contract is called unchanged at $2.90 as traders factor in a moderating near-term weather outlook along with expected supportive storage data. Overnight oil markets inched higher.

By fits and turns on Friday, Magnum Hunter Resources Corp. CEO Gary Evans dismissed rumors that the company is facing an imminent liquidity crisis as commodity prices continue to tumble, reminding financial analysts during a rare conference call to discuss its business that Magnum is no longer an oil company.

January natural gas is expected to open 9 cents lower Wednesday morning at $3.78 as the medium-term weather outlook continues to become ever more moderate. Overnight oil markets were mixed.

The expiring November natural gas futures contract is seen opening 2 cents lower Wednesday morning at $3.63 as traders square books and see the market at oversold conditions. Overnight oil markets rose.

November natural gas is expected to open unchanged at $3.81 as weather forecasts shift little and injections are seen likely continuing into November. Overnight oil markets continued their downward trek.

October natural gas is expected to open unchanged at $3.82 as traders see both a soft fundamental and weak technical picture.

October natural gas is set to open a penny higher Wednesday morning at $4.00 as traders discount expected hefty storage builds and assess the likelihood of a technically-based advance. Overnight oil markets rose.