Gradually

Strong domestic natural gas supplies are enabling the U.S. chemicals manufacturing sector to gradually improve, according to a report by the American Chemistry Council (ACC).

Strong domestic natural gas supplies are enabling the U.S. chemicals manufacturing sector to gradually improve, according to a new report by the American Chemistry Council (ACC).

With colder weather gradually building across much of the eastern half of the U.S., prices were up — by small amounts in a large majority of cases — at nearly all points Thursday. The 8.9-cent rebound by January futures a day earlier also contributed to cash strength.

Pennsylvania Gov.-elect Tom Corbett Wednesday pledged to support the state’s growing natural gas industry and said he would gradually re-open the state’s forest lands within the Marcellus Shale to drilling, effectively canceling the moratorium put into place by outgoing Gov. Ed Rendell.

Pennsylvania Gov.-elect Tom Corbett last Wednesday pledged to support the state’s growing natural gas industry and said he would gradually re-open the state’s forest lands within the Marcellus Shale to drilling, effectively canceling the moratorium put into place by outgoing Gov. Ed Rendell.

Bolstered by a prior-day futures gain of a little more than a quarter and gradually rising cooling load, cash prices moved higher at all points Thursday. But a sharp screen reversal and the typical decline of industrial load over a weekend may make it tough for the spot market to continue its climb Friday.

It seemed rather unlikely but a combination of gradually warming temperatures in some areas and modest prior-day futures support propelled the cash market to gains at nearly all points Thursday. Only a small decline at Cheyenne Hub averted an across the board run of higher pricing and kept mixed daily price movement in play for yet another day.

Gradually increasing heat levels in the interior West and Southeast proved insufficient Thursday to keep most of the cash market from continuing a slide that had begun two days earlier. The Rockies again were at odds with the overall trend by making gains ranging from a little less than 15 cents to nearly 35 cents.

The cash market advanced on all fronts Thursday, driven by gradually rising heat levels in several areas (not the Northeast, where a cold front was due to keep the region cool) and by support from a futures increase of 8.3 cents the day before.