Cash natural gas prices rose 3 cents overall Monday, with gains paced by strong Northeast points undergoing pipeline outages, and higher points in California. Other major market centers were mixed. Futures prices waffled throughout the day, but managed a positive finish, with June ending up 1.5 cents to $3.925 and July adding 1.1 cents to $3.971. June crude oil fell 87 cents to $95.17/bbl.
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Cash natural gas prices were unchanged on average in Friday for weekend and Monday trading. Northeast points managed gains as weather forecasts proved supportive, but Rocky Mountain points were steady to lower, and eastern points fell a couple of cents.
EOG Resources Inc. last week reported a nearly 53% increase in net income for the first quarter of 2013, gains due in large part to hefty growth in the Eagle Ford Shale.
Shares of EOG Resources Inc. rose sharply on Tuesday after the company reported a nearly 53% increase in net income for the first quarter of 2013, gains due in large part to hefty growth in crude oil production from the Eagle Ford Shale.
Cash prices eased a penny on average Monday, with modest gains in the Midwest unable to offset declines in the Northeast and East. Major market centers were mixed. Futures prices were pounded lower by forecasts of warmer temperatures in the nation’s midsection, a stark contrast to last week’s outlooks calling for a cooler-than-normal regime. At the close May had fallen 14.1 cents to $4.267 and June was lower by 13.9 cents to $4.298. May crude oil expired at $88.76/bbl, down 75 cents.
Warm-ups are under way for a swarm of environmental protests if TransCanada Corp. gains industry support to advance its Energy East Pipeline proposal to convert part of its natural gas Mainline to oil service.
The cash market scored an average gain of 8 cents in Tuesday’s trading. Gains were widespread and only a handful of thinly traded points fell into the loss column.
Cash market prices gained an average 16 cents Monday as weather forecasts turned sharply colder at Midwest points. Gains were widespread with only one location in the loss column, and trading points around the Great Lakes sported rises of 30 cents or more. April was able to trade within 3 cents of the $4 mark and made a new 17 month high for a spot contract. It settled up 1.0 cents at $3.882. May advanced 0.5 cent to $3.914. April crude oil added 29 cents to $93.74/bbl.