Despite the Fourth of July weekend typically being the lowest-demand period of the year for many utilities and end-users, the fact that holiday weather would continue to be a scorcher in several regions proved to be sufficient in causing rebounds at a majority of points Friday, as a producer had correctly predicted a day earlier (see Daily GPI, July 1). Thursday’s 5.9-cent futures gain following a modestly bullish storage injection report was an additional cash market booster.
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Articles from Fact
U.S. Shale Reshaping Global Gas Market, Says BP
The United States in 2010 continued to lead the world in natural gas production, boosted by massive shale deposits, according to the latest statistical review by BP plc.
June 9, 2011
El Paso Putting Oil Ahead of Gas — in Eagle Ford Shale
Enthusiasm for uncovering oil deposits in the Eagle Ford Shale of South Texas hasn’t waned at El Paso Corp. In fact, the company likely will move more rigs into its leasehold as the year progresses, CEO Doug Foshee said Thursday.
February 25, 2011
‘Buy the Rumor, Sell the Fact’ Drops Futures on 164 Bcf Draw
It appeared that market watchers were engaged in a round of “buy the rumor, sell the fact” following Thursday’s news from the Energy Information Administration (EIA) that 164 Bcf was withdrawn from natural gas storage for the week ending Dec. 10. Immediately following the report, front-month futures values plummeted toward $4.
December 17, 2010
NatGas Oversupply Could Change Worldwide Energy Use
The natural gas oversupply bubble, driven by gigantic growth in shale gas, could spread around the world, becoming a game changer for almost everyone.
October 18, 2010
Trio of Bullish Fundamentals Only Results in 13-Cent Gain
In a typical case of “buy the rumor, sell the fact,” August natural gas futures pushed higher in early Thursday morning trade in anticipation of a bullish storage injection for the week ending July 16. However, once the news broke of a 51 Bcf injection, front-month values came off a bit. While the August contract went on to close the session 13 cents higher at $4.643, some market watchers were surprised the rally wasn’t larger considering the bullish injection, extended summer heat and a tropical depression bearing down on the Gulf of Mexico.
July 23, 2010
Futures Troll Lower Despite Inline 81 Bcf Storage Build
Unimpressed with the fact that storage refills have officially fallen below last year’s record pace, July natural gas futures values on Thursday probed support for the second day this week as the prompt-month contract recorded a low of $4.698 before closing out the day’s regular session at $4.748, down 5.6 cents from Wednesday’s finish.
June 25, 2010
Gas Prices ‘Rangebound’ into 2011, Say Analysts
Natural gas prices may be “rangebound” into 2011 and could, in fact, be lower than average prices this year, two separate energy analysts said last week.
April 5, 2010
No Gas Price Recovery Seen in 2011
Natural gas bulls shouldn’t anticipate higher prices going into 2011. They could, in fact, see even lower average prices than this year, Barclays Capital analysts said in a note to clients Tuesday.
April 1, 2010
No Gas Price Recovery Seen in 2011
Natural gas bulls shouldn’t anticipate higher prices going into 2011. They could, in fact, see even lower average prices than this year, Barclays Capital analysts said in a note to clients Tuesday.
April 1, 2010
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