Hard

Other than some chill in the South, it was hard to tell where the impetus for higher numbers at most points came from Tuesday. Regardless, a large majority of the market was up as prices managed to stave off the effect of spring-like weather for at least one more day.

Other than some chill in the South, it was hard to tell where the impetus for higher numbers at most points came from Tuesday. Regardless, a large majority of the market was up as prices managed to stave off the effect of spring-like weather for at least one more day.

Cash prices appeared to disregard fresh winter storms bringing heavy snow to the Midwest through the Northeast and already hard-hit Mid-Atlantic, and lows around freezing or less spreading into much of the South (with more of the same due Wednesday in each instance), in falling at virtually all points Tuesday. To at least one source, the previous day’s 11.4-cent decline by March futures apparently had more influence on the cash market than weather forecasts.

Cash prices appeared to disregard fresh winter storms bringing heavy snow to the Midwest through the Northeast and already hard-hit Mid-Atlantic, and lows around freezing or less spreading into much of the South (with more of the same due Wednesday in each instance), in falling at virtually all points Tuesday. To at least one source, the previous day’s 11.4-cent decline by March futures apparently had more influence on the cash market than weather forecasts.

The recession, which has hit Michigan especially hard, will drag residential natural gas prices down 12% and statewide demand down 10% this winter, according to an energy appraisal released Friday by the Michigan Public Service Commission (PSC).

The recession, which has hit Michigan especially hard, will drag residential natural gas prices down 12% and statewide demand down 10% this winter, according to an energy appraisal released Friday by the Michigan Public Service Commission (PSC).

July natural gas futures fell hard after the release of inventory data more bearish than traders were expecting. The Energy Information Administration (EIA) reported that for the week ended June 12 natural gas inventories increased by 114 Bcf, well ahead of market expectations in the 105 Bcf range.

July natural gas futures fell hard and fell often in Wednesday trading that took much of its guidance from petroleum and equity market difficulties. Analysts are wary that additional data in the form of Thursday’s Energy Information Administration inventory report and Friday’s employment figures could further weaken natural gas prices.

April natural gas futures fell hard in active trading Thursday. Traders responded to data showing a weakening economy and a natural gas storage report that fell in line with expectations but below historical averages. Additionally, quantitative traders pushed prices lower.