The cash market appeared to be taking more heed of a well established fact Thursday: with its end less than two weeks away, this has been a rather mild spring with little in the way of weather-based demand for natural gas. What had been generally small gains at most points on Wednesday reversed into small losses in a majority of the market Thursday.
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Supplemental Gas Supplies Found in ‘Ice that Burns’
Even with current natural gas supplies well outpacing demand in the United States, the fact that the natural resource is in finite supply means the quest for new sources — such as natural gas from gas hydrates — continues. Gas hydrates, a frozen form of natural gas that bursts into flames at the touch of a match, is showing increasing promise as an abundant, untapped source of clean, sustainable energy, according to the U.S. Geological Survey (USGS).
‘Ice that Burns’ Could Hold Key to Supplemental Gas Supplies
Even with current natural gas supplies well outpacing demand in the United States, the fact that the natural resource is in finite supply means the quest for new sources — such as natural gas from gas hydrates — continues. Gas hydrates, a frozen form of natural gas that bursts into flames at the touch of a match, is showing increasing promise as an abundant, untapped source of clean, sustainable energy, according to the U.S. Geological Survey (USGS).
Futures Continue to Inch Higher Despite Unsupportive Weather Outlook
The natural gas futures bulls were smiling Monday despite the fact that near-term weather forecasts were calling for temperatures a little less chilly then first expected. The March contract put in a high of $4.880 late in the regular session before easing off to close at $4.807, up 3.3 cents from Friday’s finish.
EIA Sees Economic Woes Dropping 2009 Natural Gas Prices, Consumption
Despite the fact that natural gas consumption grew by 0.7% within the United States in 2008, the Energy Information Administration (EIA) said last week that the economic downturn will likely lead to a 1% drop in 2009 before gaining 0.7% again in 2010, according to the government agency’s latest Short Term Energy Outlook.
EIA Sees Economic Woes Dropping 2009 Natural Gas Prices, Consumption
Despite the fact that natural gas consumption grew by 0.7% within the United States in 2008, the Energy Information Administration (EIA) said Tuesday the economic downturn will likely lead to a 1% drop in 2009 before gaining 0.7% again in 2010, according to the government agency’s latest Short Term Energy Outlook.
Total Executive: LNG Imports Will Rise Someday
Given the overabundance of liquefied natural gas (LNG) regasification capacity on U.S. shores and the fact that LNG imports this year have been less than half of what they were in 2007, it’s tempting to call the U.S. bid for global gas a bust. But like they say about the weather, if you don’t like current LNG economics, wait and they will change, some time.
Total Executive Predicts Eventual Uptick in LNG Imports
Given the overabundance of liquefied natural gas (LNG) regasification capacity on U.S. shores and the fact that LNG imports this year have been less than half of what they were in 2007, it’s tempting to call the U.S. bid for global gas a bust. But like they say about the weather, if you don’t like current LNG economics, wait and they will change, some time.
Prices Flying High as Hurricane Path Looks More Threatening
Both the cash and futures markets skyrocketed Tuesday due to the rapid transition of Gustav from tropical storm to hurricane and, more important, the fact that its most likely projected tracking was looking much more ominous for Gulf of Mexico (GOM) production infrastructure.
Warming Trends Spur Price Drops at All Points
It’s not exactly going to be “warm” in northern market areas Friday, but the fact that it will be “warmer” was enough to cause prices to fall at all points Thursday. The previous day’s 1.2-cent decline by March futures added a small amount of negative guidance for the cash market Thursday.