It failed to surprise any traders when prices fell at all but one point Friday. Despite cooling trends in the Midwest and South, moderation dominated the general weather outlook; the latest storage withdrawal report reinforced the perception of plentiful inventories (especially when the Producing region had an unusually early net injection); prompt-month futures had fallen 4 cents on the previous day; and the decline of industrial load during a weekend was a minor bearish factor as usual.
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Standoff at Sempra Mexican LNG Plant, Mayor Seeks Deal
Having failed to shut down the facility, the mayor of Ensenada in Baja California, Mexico, last Wednesday sought to negotiate tax revenues and a new gas transmission pipeline link with Sempra Energy’s Energia Costa Azul liquefied natural gas (LNG) receiving terminal along the Pacific Coast north of the port city. Mexican federal troops came to Sempra’s aid earlier in the skirmish and remained on site last week.
Mexican Mayor Seeks Deal With Sempra LNG Plant
Having failed last Friday to shut down the facility, the mayor of Ensenada in Baja California, Mexico, on Wednesday sought to negotiate tax revenues and a new gas transmission pipeline link with Sempra Energy’s Energia Costa Azul liquefied natural gas (LNG) receiving terminal along the Pacific Coast just north of the port city.
Analysts: E&Ps Appear Undeterred by Low Gas Prices
Low natural gas prices failed to deter exploration and production (E&P) operators in 2010 and that’s likely to be the scenario again this year, according to several energy analysts.
Analysts: E&Ps Appear Undeterred by Low Gas Prices
Low natural gas prices failed to deter exploration and production (E&P) operators in 2010 and that’s likely to be the scenario again this year, according to several energy analysts.
Some Northeast Quotes Still Soaring; Most Prices Lower
Forecasts of a plunge of arctic cold from Canada into the U.S. Midwest and Northeast failed to prevent a decline of spot prices at most points Tuesday.
Rebound Falters as Futures Finish Virtually Unchanged
Lending some credibility to Monday’s bullish bounce, October natural gas futures made a higher low on Tuesday but failed to tack on even 1 cent to the advance. The prompt-month contract added four-tenths of a penny to close Tuesday’s regular session at $3.816.
Heat Not Enough to Prevent Declines at Nearly All Points
Hot weather from the mid 80s to around 110 was expected to dominate the next-day forecast, but that failed to sway cash traders, who paid more attention to continuing futures weakness in sending prices lower at virtually all points Tuesday.
Boardwalk’s Quarterly Profits, Revenues Jump
Profits and revenues in 2Q2010 surged for Houston-based Boardwalk Pipeline Partners LP, but the natural gas pipeline operator failed to hit Wall Street expectations because of higher operating costs and interest expenses, it said Monday.
Heat Insufficient to Sustain Further Gains
Heat levels would keep reaching the low 90s to 110 area Tuesday in the southern third of the U.S., but that failed to keep the weekend’s price gains going Monday. Otherwise, peak temperatures were forecast to be limited to the 80s in most other areas outside the south end of the Northeast.