Prices soared by triple-digit amounts in the Rockies Thursday as the regional market continued a recovery from extreme weakness that featured low-end quotes of less than a dime in the previous two days. Most points elsewhere achieved moderate gains, but Thursday was likely to be the last day of this week’s overall market advances.
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Rockies in New Basis Blowout as Most Points Fall
In a move reminiscent of similar extreme weakness in early June, most Rockies points plummeted by more than a dollar Monday and saw low-end quotes dip to less than a dollar. However, the price carnage wasn’t quite as severe as on the trade date of June 4 (see Daily GPI, June 5) when a CIG deal at 15 cents tied NGI’s all-time lowest quote.
Raymond James Contrarians See Gas Declines Through 2007
Extreme volatility in weather or an active hurricane season could alter their fundamentally bullish outlook, but Raymond James & Associates analysts said last week that tightening supply and demand fundamentals should yield a more bullish summer-ending storage scenario at around 3,100 Bcf, with higher sustainable prices through this year and into 2008.
Raymond James Contrarians See Gas Declines Through 2007
Extreme volatility in weather or an active hurricane season could alter their fundamentally bullish outlook, but Raymond James & Associates analysts said Monday that tightening supply and demand fundamentals should yield a more bullish summer-ending storage scenario at around 3,100 Bcf, with higher sustainable prices through this year and into 2008.
EIA Sees Higher Spot Gas Prices, Consumption and Production This Year
Concerns about extreme weather conditions and rising prices in the crude oil market will keep upward pressure on the Henry Hub natural gas spot price this year and next, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for April and Summer Fuels Outlook. It also anticipates higher gas consumption and production levels this year.
EIA Sees Higher Spot Gas Prices, Consumption and Production This Year
Concerns about extreme weather conditions and rising prices in the crude oil market will keep upward pressure on the Henry Hub natural gas spot price this year and next, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for April and Summer Fuels Outlook. It also anticipates higher gas consumption and production levels this year.
Late Surge of Extreme Cold Called ‘Transformational’ for Gas Market
The odds that had once favored a spring natural gas “mega-glut” have suddenly dropped to zero, and the late surge of extreme cold weather will impact North American gas markets through most of the year, Stephen Smith Energy Associates said last week.
Late Surge of Extreme Cold Called ‘Transformational’ for Gas Market
The odds that had once favored a spring natural gas “mega-glut” have suddenly dropped to zero, and the late surge of extreme cold weather will impact North American gas markets through most of the year, Stephen Smith Energy Associates said Wednesday.
Gulf Coast, Northeast Spikes Lead Overall Gains
With most of North America under siege from extreme cold and winter storms that caused power outages, disrupted transport to work or school and resulted in numerous flight cancellations, the cash gas market responded with a continuing ascent of prices at nearly all points Wednesday. Several gains were measured in triple digits in the Northeast and Gulf Coast.
Washington Gas Reports Outage During Record Demand
Extreme cold sent demand to record levels Tuesday in Washington Gas Light’s service territory, and the company said some of its equipment in Potomac, MD, failed under the stress of high usage, leaving about 660 customers without gas for about 24 hours.