Failed

A continuing heat wave in much of the eastern U.S. failed to impress the market Wednesday. It fell at nearly all points as a low-pressure area in the western Gulf of Mexico (GOM) appeared unlikely to disrupt offshore production.

Three failed attempts at conquering $5 appeared to be the limit as the July natural gas futures contract on Wednesday headed in the opposite direction. The prompt-month contract traded in a $4.667 to $4.836 range before closing out the regular session at $4.677, down 13.1 cents from Tuesday’s finish.

Mild weather in Canada and the northern United States fails to halt the continuation of cash advance.

A “strong performance” in North America and overseas failed to offset declines in product and software sales for leading oilfield services provider Schlumberger Ltd., which on Friday reported 1Q2010 earnings down 28% from the year-ago period.

A “strong performance” in North America and overseas failed to offset declines in product and software sales for leading oilfield services provider Schlumberger Ltd., which on Friday reported 1Q2010 earnings down 28% from the year-ago period.

Colder weekend trends in sections of the South and Midwest failed to inspire enough heating load to counter the bearish influences of generally moderate weather as winter enters its final week, the prior-decline of 11.9 cents by April futures and the dropoff of industrial demand during a weekend. As a result, prices fell at all but one point Friday.

Colder weekend trends in sections of the South and Midwest failed to inspire enough heating load to counter the bearish influences of generally moderate weather as winter enters its final week, the prior-decline of 11.9 cents by April futures and the dropoff of industrial demand during a weekend. As a result, prices fell at all but one point Friday.

The natural gas futures market sent mixed signals Tuesday as the April contract failed to record a new low for the larger down move, but still declined overall for the day. The prompt-month contract put in a low of $4.476 before finishing out Tuesday’s regular session at $4.516, down 1.1 cents from Monday’s close.

The natural gas futures market sent mixed signals Tuesday as the April contract failed to record a new low for the larger down move, but still declined overall for the day. The prompt-month contract put in a low of $4.476 before finishing out Tuesday’s regular session at $4.516, down 1.1 cents from Monday’s close.