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.
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Articles from futures
‘Thin’ Storage Draw Tips Scales in Bears’ Favor; Futures Drop 23 Cents
Natural gas futures reached new three-week lows Thursday morning on the surprising news that 188 Bcf was pulled from underground storage last week, well below consensus estimates focused on a 200-230 Bcf draw. The March contract was dealt the biggest blow by the news, dropping 22.7 cents for the session to finish at $6.149.
Futures Flat Tuesday as Storage Bears and Technical Bulls Square Off
In what was one of the quietest sessions in recent memory, the natural gas futures market chopped mostly sideways Tuesday as neither bull nor bear was able to influence a move in their favor. The March contract closed at $6.316, down a half cent for the session and near the middle of its $6.26-40 trading range on the day.
CFTC Files Civil Injunctions Against 15 Former Gas Traders
The Commodity Futures Trading Commission filed five federal civil injunctions against 15 former natural gas traders and energy company Concord Energy LLC on Tuesday for reporting false information to energy trade publications and for attempted market manipulation in violation of the Commodity Exchange Act (CEA).
Study Predicts $3/MMBtu Rockies Gas Prices in 2005
With the 12- and 24-month gas futures strips above $6.50/MMBtu, gas producers even in the Rocky Mountain region are sleeping well at night. But Rockies producers may be in for a rude awakening by this time next year when prices are likely to plummet to nearly $3/MMBtu, according to Denver-based consulting firm Bentek Energy LLC.
Study: Drilling Boom Will Lead to $3/MMBtu Gas Prices in 2005
With the 12-month strip of Nymex gas futures prices near $6.50 and the 24-month strip not far behind, $3/MMBtu gas prices seem an impossible dream for many consumers and a bizarre nightmare for producers. However, a new study by Denver-based consulting firm Bentek Energy LLC predicts that by this time next year that’s exactly what the Rocky Mountain region and possibly the rest of the natural gas market will see.
Study: Drilling Boom Will Lead to $3/MMBtu Gas Prices in 2005
With the 12-month strip of Nymex gas futures prices near $6.50 and the 24-month strip not far behind, $3/MMBtu gas prices seem an impossible dream for many consumers and a bizarre nightmare for producers. However, a new study by Denver-based consulting firm Bentek Energy LLC predicts that by this time next year that’s exactly what the Rocky Mountain region and possibly the rest of the natural gas market will see.
BP Settles Wash Trading Charges, Pays $100,000 Fine
The Commodity Futures Trading Commission (CFTC) filed and simultaneously settled charges against BP America Inc. Thursday for engaging in illegal wash trading in the power market in 2000 via an electronic trading platform. The order directs BP Energy, the marketing arm of BP plc’s Gas, Power and Renewables unit, to cease and desist from further violations, pay a $100,000 civil penalty, and provide future cooperation in investigations of related matters. BP neither admitted nor denied the findings made in the order.
BP Settles Wash Trading Charges, Pays $100,000 Fine
The Commodity Futures Trading Commission (CFTC) filed and simultaneously settled charges against BP America Inc. Thursday for engaging in illegal wash trading in the power market in 2000 via an electronic trading platform. The order directs BP Energy, the marketing arm of BP plc’s Gas, Power and Renewables unit, to cease and desist from further violations, pay a $100,000 civil penalty, and provide future cooperation in investigations of related matters. BP neither admitted nor denied the findings made in the order.
BP Settles Wash Trading Charges, Pays $100,000 Fine
The Commodity Futures Trading Commission (CFTC) filed and simultaneously settled charges against BP America Inc. Thursday for engaging in illegal wash trading in the power market in 2000 via an electronic trading platform. The order directs BP Energy, the marketing arm of BP plc’s Gas, Power and Renewables unit, to cease and desist from further violations, pay a $100,000 civil penalty, and provide future cooperation in investigations of related matters. BP neither admitted nor denied the findings made in the order.