Every

Every downtrend needs a good short-covering bounce now and again and that is exactly what it looks like February natural gas did on Friday, although it was a small bounce. After opening 32.1 cents higher Friday morning at $9.820, which also happened to be the contract’s high for the day, the prompt month traded in an area between $9.580 and $9.760 before settling at $9.632, up 13.3 cents on the day but $1.593 lower than the previous week’s close.

Prices reacted to heating load either already fading or being on the verge of fading in several market areas by dropping at nearly every point Wednesday. Declines ranged from a little less than 15 cents to around $1.25, with the biggest losses generally concentrated in the Midcontinent/Midwest, Texas Gulf Coast and Northeast.

Even with some offshore production cutbacks seemingly imminent, cash prices dropped at nearly every point Thursday. Traders cited the previous day’s screen weakness and moderating weather trends either already under way or in the forecast as reasons for the softness. One also noted that Tropical Storm Arlene was expected to have relatively little impact on Gulf Coast supplies.

The transmission policy that FERC crafts should apply to every business model that could build transmission, Commissioner Suedeen Kelly said last Tuesday in an appearance before a meeting sponsored by the National Energy Marketers Association (NEMA). “We don’t need to favor one over another — we need them all,” she said.

Gas producers stand warned to count on facing determined environmental resistance every step of the way if the British Columbia and federal governments press ahead on plans to end a 33-year-old ban against drilling in the offshore of the Canadian West Coast.

Gas producers stand warned to count on facing determined environmental resistance every step of the way if the British Columbia and federal governments press ahead on plans to end a 33-year-old ban against drilling in the offshore of the Canadian West Coast.

With a few flat to mildly softer points tucked into every market area, prices found enough heating load Wednesday for an overall advance. Gains ranged from 2 or 3 pennies to as much as a quarter.

With a few flat to mildly softer points tucked into every market area, prices found enough heating load Wednesday for an overall advance. Gains ranged from 2 or 3 pennies to as much as a quarter.

Southern Natural began posting weekly storage data every Monday (or Tuesday if Monday is a holiday). Total working storage capacity on Southern’s system is 60 Bcf. As of the end of last Thursday, Sept. 2, estimated working storage inventory was about 53.6 Bcf, or 89% of capacity. At the same time last year, estimated working storage inventory was about 49.6 Bcf, or about 83% of capacity.