August natural gas futures gained ground Tuesday on the day prior to expiration. Traders see little in the way to suggest that any fundamentals have changed, and perceived the day’s activity as movement within a broad and uninspired trading range. At the close August natural gas rose 6.3 cents to $4.675 and September added 6.3 cents as well to $4.646. September crude oil tumbled $1.48 to $77.50/bbl.
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Articles from Gained
Traders Jump Ahead of Funds as Expiration Nears; August Up 3.2 Cents
Nearby futures gained modestly and more deferred contracts posted narrow losses Monday as traders squared their books prior to Tuesday’s options expiration and Wednesday’s futures termination.
July 27, 2010
Futures Resolve Higher Following 87 Bcf Storage Build
Coming off of Wednesday’s decline on a round of profit taking, the July natural gas futures contract on Thursday got most of it back as the prompt-month contract gained 18.4 cents to finish at $5.162.
June 18, 2010
Futures Gain as Sellers Are Scarce; June Adds 8.6 Cents
June natural gas futures gained ground Friday as traders cited a lack of sellers, a positive employment report and a market divorced from the shell-shocked petroleum and equities markets.
May 10, 2010
Futures Push Higher Ahead of Potential Record-Setting Storage Draw
February natural gas futures gained another 14.2 cents on Wednesday as traders positioned themselves for what could be confirmation Thursday morning that last week’s bone-chilling cold resulted in an all-time record natural gas storage withdrawal. The prompt-month contract closed Wednesday’s regular session at $5.733.
January 14, 2010
Lodi Gas Storage to Add Injection, Withdrawal Wells
The Lodi Gas Storage (LGS) project, a 22 Bcf working capacity underground storage facility in Northern California, gained approval from the California Public Utilities Commission (CPUC) Thursday to drill up to 15 new wells from existing sites to improve the efficiency of the independent storage field.
December 21, 2009
Planned West Virginia Gas Processor Adds Two Customers
A proposed natural gas processing plant to be built in the West Virginia portion of the Marcellus Shale gained subsidiaries of Chesapeake Energy Corp. and StatoilHydro ASA as customers, MarkWest Liberty Midstream & Resources LLC said Tuesday.
September 16, 2009
June Quietly Expires, But July Could Drop Thursday on Storage Build
According to one natural gas futures trader, the June contract on Wednesday went off the board like “a sleeping lamb” as it gained one-tenth of a cent to expire at $3.538. The July contract, which now assumes front-month status, slipped five-tenths of a cent on the day to close at $3.638.
May 28, 2009
Public Sector Gas-Buy Financings Get Ratings Boost
Gas-buying plays by public-sector utilities gained some traction in their credit ratings Wednesday as Standard & Poor’s Ratings Services (S&P) raised ratings on four deals while holding the line on a fifth. S&P Tuesday raised the credit rating on Merrill Lynch & Co., which has a role in each of the deals.
January 9, 2009
StatoilHydro Grabs Marcellus Stake in $3.38B Chesapeake Deal
Norway’s StatoilHydro ASA gained a stake in the Marcellus Shale after agreeing to partner with Chesapeake Energy Corp. in a $3.38 billion transaction. About $1.25 billion will be paid for 32.5% of Chesapeake’s leasehold and $2.13 billion will be set aside to fund 75% of drilling and completion costs from 2009 to 2012.
November 17, 2008
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