Feeling

Not surprisingly, the cash market fell by mostly large amounts at all points Friday, feeling negative pressure from relatively little appreciable cooling load outside the desert Southwest, another prior-day screen drop, the lack of any new tropical storm activity and the extra loss of industrial demand over a holiday weekend. The storage situation also remained bearish despite Thursday’s report of a 48 Bcf build in the previous week falling a little below expectations.

Feeling support from returning power generation load as summer-like heat began to reassert itself and also from a 17.5-cent screen gain on the previous Friday, cash prices rose at virtually all points Monday.

Feeling rather comfortable with the market’s recent $6.500 to $7.500 trading range, natural gas futures traders on Monday put in another uneventful session as support held once again. After trading within a slim 15 cent range between $6.560 and $6.710 on Monday, June natural gas ended up closing at $6.696, down 7.9 cents on the day.

With its traders still feeling the effects of Thursday’s unsupportive storage report, the natural gas futures market sifted lower Friday afternoon to conclude a relatively quiet week. The March contract completed the session at $6.096, down 5.3 cents for the session and 16.3 cents for the week.

With sources in the Northeast and Midwest feeling that they could finally say good-bye to Old Man Winter after the dude had prolonged his stay to uncomfortable lengths, it was hardly surprising to see all points united in mostly moderate softening Tuesday. Northeast citygates led the losses that ranged from about a nickel to 20 cents. Most were on either side of a dime.

Feeling rooked by Canadian Superior’s announcement last week of a halt operations at the El Paso Mariner I-85 well in the Atlantic Ocean off Nova Scotia, following 3-1/2 months of drilling, a number of class action lawsuits have been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the securities of Canadian Superior Energy Inc.

Alberta oil sands developers are feeling the costs but are still not about to back away from projects that are making them one of the biggest and fastest-growing consumers of natural gas in North America, the Canadian Energy Research Institute predicted in a new state-of-the-industry survey.

Alberta oil sands developers are feeling the costs but still not about to back away from projects that are making them one of the biggest and fastest-growing consumers of natural gas in North America, the Canadian Energy Research Institute predicted in a new state-of-the-industry survey.

Feeling the heat over the budget deficit in Washington, Senate Republicans have used razor-sharp knives to cut the cost of the one-time $31 billion omnibus energy bill by more than half.