Fresh

Natural gas futures traders took their foot off the accelerator on Wednesday as the July contract came off fresh highs on a round of profit-taking to close back below $5 at $4.978, down 21.1 cents from Tuesday’s finish.

April natural gas futures on Wednesday recorded a new low for the larger down move, but rebounded ahead of the arrival of fresh storage data Thursday to close at $4.559, up 4.3 cents from Tuesday’s finish.

April natural gas futures on Wednesday recorded a new low for the larger down move, but rebounded ahead of the arrival of fresh storage data Thursday to close at $4.559, up 4.3 cents from Tuesday’s finish.

Cash prices appeared to disregard fresh winter storms bringing heavy snow to the Midwest through the Northeast and already hard-hit Mid-Atlantic, and lows around freezing or less spreading into much of the South (with more of the same due Wednesday in each instance), in falling at virtually all points Tuesday. To at least one source, the previous day’s 11.4-cent decline by March futures apparently had more influence on the cash market than weather forecasts.

Cash prices appeared to disregard fresh winter storms bringing heavy snow to the Midwest through the Northeast and already hard-hit Mid-Atlantic, and lows around freezing or less spreading into much of the South (with more of the same due Wednesday in each instance), in falling at virtually all points Tuesday. To at least one source, the previous day’s 11.4-cent decline by March futures apparently had more influence on the cash market than weather forecasts.

With fresh private and government forecasts for a return of winter chill, cash market averages on Monday for Tuesday delivery showed gains dominating much of the country with the exception of some northeastern points, which posted a number of $1-plus declines.

With fresh private and government forecasts for a return of winter chill, cash market averages on Monday for Tuesday delivery showed gains dominating much of the country with the exception of some northeastern points, which posted a number of $1-plus declines.

The California Energy Commission (CEC) last Thursday unanimously approved its 2009 Integrated Energy Policy Report (IEPR), recommending a fresh mix of strategies for lowering the state’s greenhouse gas (GHG) emissions along with maintaining reliable, efficient and affordable energy supplies. The focus continued to be on reliability and renewable resources in this latest annual update of the report that goes to the governor and legislature.

Natural gas producers have no shortage of fresh, large drilling targets as exploration campaigns quietly spread out on a new eastern industry frontier, says a new report by the Geological Survey of Canada (GSC).