With the transition to more seasonal springtime conditions continuing to displace the winter-like weather that lingered through much of March in several areas, prices fell at a large majority of points Thursday. The previous day’s further drop of 8.5 cents by May futures, extending a string of screen weakness into its fourth day, put more downward pressure on cash numbers.
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Gas Use, Lawsuits Eyed After CA Gov. Signs Global Warming Bills
Questions about the impact on natural gas volumes/prices and legal challenges lingered as the applause faded and California energy stakeholders faced a multi-year implementation process for the state’s landmark global warming laws signed last week by Gov. Arnold Schwarzenegger. Pressure on already tight natural gas supplies and wholesale prices could result from the new law, according to the head of the Industrial Energy Consumers of America.
Greater Gas Use, Lawsuits Eyed After CA Global Warming Actions
Questions about the impact on natural gas volumes/prices and potential legal challenges lingered last week after California Gov. Arnold Schwarzenegger signed several landmark global warming laws. Pressure on already tight natural gas supplies and wholesale prices could result from the new law, according to the head of the Industrial Energy Consumers of America (IECA).
Heating Load Gain Spurs Rally at Most Points
Softness lingered at some points, but most of the cash market was flat to as much as a quarter higher Friday. The overall rally from Thursday’s big declines was spurred by the market’s anticipation of the first significant heating load in more than a month showing up over the weekend.
Flat California, Sumas Contrast with Overall Weakness
Although freezing temperatures lingered on in Midwest and Northeast markets, weather-related demand was fading in the rest of the nation Monday, and it was only a matter of time before the Midwest and Northeast got their own warm-ups going. With a highly negative screen providing an extra push over the edge, it was hardly surprising to see cash prices falling between about 15 and 70 cents at nearly all points.
Tropical Storm Barry Costs 5 to 6 Bcf in Production
As much as 5-6 Bcf of gas production was lost due to shut-ins as Tropical Storm Barry lingered in the Gulf of Mexico from Friday through Sunday a week ago, before moving ashore and dissipating into heavy rain Monday.
Barry Costs 5 to 6 Bcf in Production
As much as five to six Bcf of gas production was lost due to shut-ins as Tropical Storm Barry lingered in the Gulf of Mexico from Friday through Sunday, before moving ashore and dissipating into heavy rain Monday.