Researchers from Cleveland State University (CSU) said Ohio counties with significant Marcellus and Utica shale development have seen only a modest increase in job creation in 2012, but those same counties also saw a large increase in retail sales.
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Cash quotes overall inched higher by about a penny, but flat to lower quotes at a few spots in the Great Lakes and Northeast were offset by firm Rockies prices and restriction-derived gains of about a nickel in California. The Energy Information Administration (EIA) reported a build of 30 Bcf, about what the market was looking for. Prices slumped initially but managed to climb back into the plus column before closing. At the end of the day June futures were 2.2 cents higher at $2.487 and July gained 1.9 cents to $2.569. June crude oil rose 27 cents to $97.08/bbl.
January natural gas drifted lower and February inched higher in uninspired trading Tuesday such that even options expiration could not whet trader appetites. Traders noted no attempts to either attack or defend nearby options strikes, and futures prices settled within fractions of Friday’s close. At the closing bell January had slipped 0.2 cent to $3.112 and February had added 0.3 cent to $3.150. February crude oil rose $1.66 to $101.34/bbl.
January natural gas inched lower Thursday as traders took the opportunity to sell into a seemingly bullish government inventory report and looked ahead to forecasts calling for above-normal temperatures. The Energy Information Administration (EIA) reported a withdrawal from inventories of 102 Bcf for the week ended Dec. 9, a greater draw than what the market was looking for. At the close, however, January had eased 0.9 cent to $3.127 and February had shed 1.0 cent to $3.177. January crude oil fell $1.08 to $93.87/bbl.
December natural gas inched higher Monday as traders focused less on trading and more on the latest failure of a prominent energy trading firm. Trading volume was light. At the close December had gained 1.1 cents to $3.934 and January had risen 1.4 cents to $4.056. December crude oil fell 13 cents to $93.19/bbl.
November natural gas inched lower Friday as buying momentum from Thursday faded and traders continued to focus on a market burdened by a host of negative supply-demand factors. They suggested that prices could work nearly 40 cents lower from present levels. At the close November had drifted 0.1 cent lower to $3.629 and December had fallen 0.8 cent to $3.826. December crude oil gained $1.33 to $87.40/bbl.
September natural gas inched higher Wednesday as traders noted a less supportive weather environment, but they were reluctant to initiate any new positions prior to the release of a key government inventory report Thursday. At the close September was up 0.1 cent to $3.933 and October had added 0.1 cent to $3.943. September crude oil rose 93 cents to $87.58/bbl.
July natural gas futures inched higher Tuesday as traders see the market needing to overcome difficult technical resistance before any trend higher can be resumed while others see the market at a turning point. At the close July had advanced a miserly 0.4 cent to $4.831 and August futures were up 0.1 cent to $4.858. July crude oil rose 8 cents to $99.09/bbl.