Longer

Growing domestic natural gas supplies from shale plays will fuel North America’s energy needs for 100 years or longer, energy executives said last week in Houston at the annual meeting of the Texas Independent Producers and Royalty Owners Association (TIPRO).

Growing domestic natural gas supplies from shale plays will fuel North America’s energy needs for 100 years or longer, energy executives said Thursday in Houston at the annual meeting of the Texas Independent Producers and Royalty Owners Association (TIPRO).

January natural gas futures pushed to a new high on Monday at $5.409 as temperature forecasts were calling for the chill to stick around longer than expected for much of the United States. The prompt-month contract ended up closing out the day at $5.332, up 16.9 cents from Friday’s finish.

ANR told shippers that based on new forecasts for its market area, the restrictions it had implemented Wednesday were no longer in effect Friday.

January natural gas futures made another stout gain Tuesday as traders bought contracts in anticipation of continued cold weather.

A trio of supportive influences — heating load expected to remain ample for a while longer across Canada and much of the U.S.; the previous Friday’s gain of 12.7 cents by January futures; and the return of industrial load from its typical weekend recess — pushed cash prices to double-digit increases across the board Monday.

Natural gas and oil prices are no longer connected, and strong gas supplies, the anticipation of warmer winters and a weak economy provide little evidence that prices will reconnect in the near future, according to Ernst & Young (E&Y). However, regulatory pressure to decrease carbon emissions could lift gas demand and prices, E&Y said Monday in its 4Q2009 outlook for the energy industry.

Natural gas and oil prices are no longer connected, and strong gas supplies, the anticipation of warmer winters and a weak economy provide little evidence that prices will reconnect in the near future, according to Ernst & Young (E&Y). However, regulatory pressure to decrease carbon emissions could lift gas demand and prices, E&Y said Monday in its 4Q2009 outlook for the energy industry.

As expected, the post-holiday rally in cash prices was unable to sustain itself any longer in the face of receding weather-based demand and weakening futures support. Quotes fell at a large majority of points Thursday, although generally by small amounts. A few flat to a little less than a nickel higher locations resulted in mixed price movement overall.