An environmental group is challenging how Pennsylvania combines air emissions from interconnected Marcellus Shale infrastructure for regulatory purposes.
Inventory
Articles from Inventory
Market Diverges On Timing Issues; Futures Surge After EIA Report
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.
Producers Hunker Down; Futures Penetrate Long-Term Support
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.
Traders Jockey for Position Ahead of Storage Stats; February Gains
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.
Tuesday Trading Seen as Pivotal; February Falls After Storage
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.
Transportation Notes
Pacific Gas and Electric issued a systemwide Stage 2 low-inventory order on its California Gas Transmission system for Friday, setting penalties of $1/Dth for exceeding a 5% tolerance on negative daily imbalances.
Bears Ignore Bullish Storage Stats; January Slips
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.
Transportation Notes
Pacific Gas and Electric is ending a systemwide low-inventory OFO Wednesday after it had been in effect on the utility’s California Gas Transmission system Monday and Tuesday.
Transportation Notes
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.
Hefty EIA Storage Builds Expected; November Drops
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.