Finally

With unusually cold temperatures finally forecast to recede from the state, the Electric Reliability Council of Texas (ERCOT) on Thursday said it had set a record for winter peak demand of 57,282 MW between 7 a.m. and 8 a.m.

An air quality study conducted near Marcellus Shale natural gas operations in northeastern Pennsylvania during four separate weeks last year found no emission levels that would constitute a concern to the health of residents living nearby, the state’s Department of Environmental Protection (DEP) said Monday.

Just when it had seemed the whole market was finally in agreement on further severe cold through the rest of January and the corollary that a couple of mostly bullish weeks were upcoming, prices got thrown for a loop again. Doubts were arising again about how severely cold it will be in the closing weeks of the month. Whereas flat to much higher numbers had reigned throughout the market Wednesday, only a few locations that were flat to up nearly 20 cents avoided a near-total turnaround into negative territory Thursday.

“Better late than never” might have been the mantra of natural gas futures bears on Wednesday as the February contract finally corrected Monday’s 24.5-cent rally. Riding updated forecasts that show temperatures might not be as cold as previously expected in the coming weeks, the prompt-month contract recorded a $4.447 low on Wednesday before closing the regular session at $4.473, down 19.6 cents from Tuesday’s finish.

A five-week air quality study found no air contaminant emission levels indicating problems for residents living near Marcellus Shale natural gas operations in southwestern Pennsylvania’s Greene and Washington counties, the state’s Department of Environmental Protection (DEP) said Monday.

Intense heat in many areas finally appeared to be reviving the spot market, but only to a small degree, Thursday. The previous day’s minor rebound of 2.9 cents by September futures also helped in raising cash prices slightly at most points.

After knocking on the psychological resistance door three times earlier this month, natural gas bulls finally reached $5 and settled above it on Monday as the July contract recorded a $5.013 high before closing out the regular session at $5.006, up 22.5 cents from Friday’s finish.

Despite a little prior-day screen support, the cash market finally had to acknowledge Wednesday that it wasn’t getting enough weather-based demand to sustain the moderate rally of the first two days of the week. A few flat to nearly a nickel higher quotes were overwhelmed by softening everywhere else.

Despite a little prior-day screen support, the cash market finally had to acknowledge Wednesday that it wasn’t getting enough weather-based demand to sustain the moderate rally of the first two days of the week. A few flat to nearly a nickel higher quotes were overwhelmed by softening everywhere else.