Deteriorating Canadian natural gas supplies will do their gloomy bit toward drying up the North American gas glut for at least another year, a member of the National Energy Board (NEB) predicted last Wednesday.
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NEB: All Scenarios Show Canadian Production Decline
Deteriorating Canadian natural gas supplies will do their gloomy bit toward drying up the North American gas glut for at least another year, a member of the National Energy Board (NEB) predicted Wednesday.
Tight Supplies, Bit of Weather Load Rally Most Points
Most points rebounded strongly Monday as the Gulf Coast supply picture, while improving, remained rather gloomy and pockets of current or approaching cooling and heating load surfaced. A little bit of “storm hype” may also have been a factor, although Tropical Storm Stan was projected to move into southern Mexico without threatening any U.S. energy facilities.
Big Storage Figure Creates Gloomy Price Outlook
The cash market began what several sources believed could be a fairly lengthy period of downward price consolidation Wednesday. Numbers generally fell between a dime and 20 cents in eastern markets and at Permian Basin/Waha and Pacific Northwest points, while other western prices took an even heavier beating.