An environmental group is challenging how Pennsylvania combines air emissions from interconnected Marcellus Shale infrastructure for regulatory purposes.
Articles from Inventory
Futures jumped Thursday following the release of government inventory data, but the surge occurred after most cash trading had taken place, leaving the illusion of divergent markets.
February natural gas continued lower Thursday following the release of government inventory figures confirming traders’ estimates of an ever-growing surplus. The front-month contract broke below the $2.409 long-term support level from September 2009.
February natural gas futures rose Wednesday as traders covered short positions ahead of the release of government inventory figures. At the close February had risen 10.3 cents to $3.096 and March had gained 10.5 cents to $3.127. February crude oil rose by 26 cents to $103.22/bbl.
Thursday’s price driver was the release of government inventory figures that came in only slightly bearish but were sufficient to send February futures nearly a dime lower.
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.
CIG canceled Wednesday a Strained Operating Condition (SOC) that had been declared Sept. 23 due to high storage inventory levels at that point in the injection season. See the bulletin board for service changes that went into effect upon the ending of the SOC.
November futures plunged Wednesday as traders anticipate an inventory report to not only show additions to storage well above historical averages, but also surpass the record for October. At the close November had dropped 12.7 cents to $3.489 and December had shed 6.8 cents to $3.791. November crude oil fell 24 cents to $85.57/bbl.