Overall physical natural gas prices jumped more than a nickel Monday as the specter of closed nuclear plants loomed over the market and eastern traders braced for the onslaught from Hurricane Sandy. The expiring November natural gas futures contract joined the stronger cash and went off of the board at $3.471, up 7.1 cents from Thursday. December futures added 7.9 cents on the day to close at $3.803.
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GOM Production Returning After Tropical Storm Debby Scare
Offshore oil and natural gas production in the Gulf of Mexico (GOM), which had been slammed by shut-ins and personnel evacuations as Tropical Storm Debby loomed last weekend, is nearly back to normal, according to the U.S. Bureau of Safety and Environmental Enforcement (BSEE).
Energy Industry Told to ‘Embrace E’
Today’s conference was brought to you by the letter E. Indeed,the fifth letter of the alphabet loomed large on the first day ofthe Cambridge Energy Research 19th annual Executive Conference inHouston yesterday.
Northeast Prices Sink as Other Points Tread Water
While the American Gas Association (AGA) report loomed at theend of Wednesday’s trading, moderate temperature forecasts and theeasing of New England and New York electricity jams were enough tocause drops of more than a nickel in the Northeast. The New Yorkcitygate ended the day in the mid $2.50s after ascending to the mid$2.70s on Monday.