Fall

Prices continued to fall at all points Friday as weather-based load remained meager, prior-day screen guidance was negative and concerns about near-term storage injection availability mounted. Only the PG&E citygate decline, which was affected by interior Northern California temperatures still forecast to approach 100 during the weekend, was by less than double digits.

Prices continued to fall at a majority of points Thursday, but declines were generally small at less than a dime. There were signs of new, albeit slight, firmness as several more locations were flat to 2-3 cents higher than on the day before.

Prices continued to fall at nearly all points Monday as summertime cooling load was fairly light outside the southern third of the U.S. The previous Thursday’s downturn of 18 cents by August futures was a further negative influence on the cash market, and the return of industrial demand from a holiday weekend proved to have essentially no bullish impact.

Even with hotter weather spreading into the Northeast, prices continued to fall at all but a few points Wednesday. The previous day’s futures drop of 5.4 cents and growing concerns about soaring storage inventories portending limited options for placing spot gas down the road were believed to be the market’s chief bearish influences.

With overall weather fundamentals strengthening only marginally, prices continued to fall at a slight majority of points Monday.

The price of Canadian oil and natural gas reached new highs only to fall dramatically in the latter half of 2008 due to the emergence of unconventional resource plays in the United States. This created a supply glut, which added to the economic slowdown and reduced demand, according to Canadian Energy Overview 2008 by the country’s National Energy Board (NEB).

The price of Canadian oil and natural gas reached new highs only to fall dramatically in the latter half of 2008 due to the emergence of unconventional resource plays in the United States. This created a supply glut, which added to the economic slowdown and reduced demand, according to Canadian Energy Overview 2008 by the country’s National Energy Board (NEB).

Prices continued to fall at nearly all points Friday due to generally mild weather forecasts and the previous day’s 9.4-cent decline by May futures. The typical weekend decline of industrial load was an additional bearish factor.

U.S. natural gas output will fall this year, but global supplies in the form of liquefied natural gas (LNG) are about to experience the largest incremental addition of liquefaction capacity in a single year, Barclays Capital analysts said. Nameplate liquefaction capacity is estimated to jump by 5.6 Bcf/d this year, and where that capacity lands is posing “the greatest uncertainty” for U.S. supply/demand balances in this summer’s injection season.