Ground

Despite meetings that brought together members of both chambers and both sides of the aisle in Pennsylvania’s General Assembly and representatives from the gas industry at the Governor’s Mansion in Harrisburg Monday and Tuesday, agreement on a proposed natural gas severance tax bill remains elusive, according to Senate President Pro Tem Joe Scarnati (R-Jefferson).

Still-moderate weather fundamentals for the most part didn’t seem to offer any rationale, but prices recovered some lost ground at all points Monday following an extremely weak weekend market. Without any new developments from previously mostly mild to cool weather, it seemed that at least a bit of “storm hype” must have crossed traders’ minds.

The 20-member board of directors of the national Ground Water Protection Council (GWPC) last week unanimously called for a complete disclosure of chemicals used in the hydraulic fracturing (fracking) process, which is used to develop most of the shale gas wells in the country.

The 20-member board of directors of the national Ground Water Protection Council (GWPC) on Wednesday unanimously called for a complete disclosure of chemicals used in the hydraulic fracturing (fracking) process, which is used to develop most of the shale gas wells in the country.

Although she gained some ground Tuesday during the counting of absentee and provisional ballots, incumbent Sen. Lisa Murkowski (R-AK) — an advocate of the oil and natural gas industry — conceded Alaska’s Republican primary to Tea Party-backed candidate Joe Miller.

September natural gas futures managed to gain ground Thursday as a somewhat supportive inventory report brought buyers off the bench, and the resulting price response began to frame a positive technical picture.

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.

Hitting the ground running just hours after President Obama signed the Wall Street reform bill into law (see related story), the Commodity Futures Trading Commission (CFTC) on Wednesday released a list of 30 areas where it plans to implement new regulations.

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.