Factors

Futures rose but traders saw the advance as devoid of any directional factors and noted active spread trading. Trading of outright futures and options was light. At the close April had added 6.6 cents to $3.930 and May futures were up 6.2 cents to $3.986. April crude oil fell 64 cents to $104.38/bbl.

While Wednesday’s Energy Information Administration (EIA) report that 19 Bcf was injected into inventories for the week ending Nov. 5 came in below historical comparisons and most industry expectations, the injection did set a new all-time record for natural gas in storage at 3,840 Bcf, which the natural gas futures market took note of.

Noting construction is well under way on all eight segments, the Ruby Pipeline backers at El Paso Corp. said Wednesday several factors including winter weather will determine if the project, now two months behind schedule, can be completed as now planned in June.

Subject to the economy and some legal factors, the need for added natural gas pipeline and storage capacity in the Pacific Northwest is a no-brainer; it is just a matter of when, not if, according to senior executives at Northwest Natural Gas Co., speaking on a second quarter earnings conference call Wednesday. Earnings increased quarter over quarter for the most recent period and were flat for the first half of this year compared to the same period in 2009.

Some of the success factors behind North America’s rapid growth in developing unconventional natural gas resources are missing outside the United States and Canada, but the long-term impact of global resources “could be profound,” Wood Mackenzie energy consultants said in a new report.

Some of the success factors behind North America’s rapid growth in developing unconventional natural gas resources are missing outside the United States and Canada, but the long-term impact of global resources “could be profound,” Wood Mackenzie energy consultants said in a new report.

North America’s onshore natural gas markets continue to show signs of improving, and the rig count is forecast to be strong in the near term — all positive factors for the oilfield services market, Barclays Capital analysts said last week.

North America’s onshore natural gas markets continue to show signs of improving, and the rig count is forecast to be strong in the near term — all positive factors for the oilfield services market, Barclays Capital analysts said Tuesday.

While reliability and price continue to be driving factors, environmental concerns are moving into equal footing in the gas buying process, according to a panel of industry veterans at GasMart 2010 in Chicago last Tuesday. The five panelists addressed different aspects of “Integrating Green Goals into Gas Procurement Basics.”