Falling

Natural gas futures closed slightly higher Tuesday as traders were content to remain on the sidelines and avoid the free-falling petroleum and equity markets. June natural gas futures rose 1.3 cents to $4.013 and July added a meager 0.4 cents to $4.133. June crude oil tumbled $3.45 to $82.74, and the Dow Jones Industrial Average spiraled lower 225 points to 10,926 largely on debt concerns in Greece.

A few points had held out with flat to mildly higher prices a day earlier, but all of the cash market was united in falling numbers Thursday as moderate spring weather and weak futures ganged up to depress physical prices.

A few points had held out with flat to mildly higher prices a day earlier, but all of the cash market was united in falling numbers Thursday as moderate spring weather and weak futures ganged up to depress physical prices.

After falling more than 22 cents over the last two regular sessions, the March natural gas futures contract and those that trade it appeared to take a rest on Wednesday despite the fact that a blizzard was battering much of the East with heavy snow totals and high winds.

After falling more than 22 cents over the last two regular sessions, the March natural gas futures contract and those that trade it appeared to take a rest on Wednesday despite the fact that a blizzard was battering much of the East with heavy snow totals and high winds.

The last three months of 2009 proved to be treacherous for U.S.-based oilfield service operators, with Baker Hughes Inc.’s (BHI) profits falling 81%, Halliburton’s off 48% and Schlumberger Ltd.’s down 31%, but a recovery in pricing and services is likely to pick up later this year, executives said.

After falling by more than 2% in September, Lower 48 natural gas production rose by nearly 2% in October as drilling in the Haynesville Shale region continued at a strong clip and activity in Wyoming picked up its pace, according to a report released by the Energy Information Administration (EIA) last Tuesday.

After falling by more than 2% in September, Lower 48 natural gas production rose by nearly 2% to 62.94 Bcf/d in October as drilling in the Haynesville Shale region continued its strong pace and Wyoming picked up activity, according to a report released by the Energy Information Administration (EIA) Tuesday.

Huge spikes that often well exceeded a dollar at Northeast citygates were in sharp contrast to falling prices elsewhere Thursday. Although lows would continue to be around freezing or below at many locations Friday, including some in the South, a continuing moderation of overall heating load from previous levels combined with Wednesday’s retreat of 21.6 cents by January futures to generate losses at most points.