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The cash market overall surged on average by 17 cents Tuesday as traders scrambled to make up volumes not purchased going into the long holiday weekend, screen prices initiated a solid advance to close at the high end of the day’s range, and traders hinted at expectations of a bullish storage report Thursday. At the close of futures trading, October was 5.5 cents higher at $2.854 and November had added 3.7 cents to $3.000. October crude oil tumbled $1.17 to $95.30/bbl.

Cash prices overall dropped an average 6 cents Friday as traders were reluctant to make purchases before a long holiday weekend when many locations were forecast to see load-dampening effects of the remnants of Isaac. California points were firm, Eastern points slumped, and Gulf locations were steady to lower. At the close of futures trading October had risen 5.1 cents to $2.799 and November was up by 4.4 cents to $2.963. October crude oil jumped $1.85 to $96.47/bbl.

Isaac, a Category 1 hurricane as of late Tuesday, was expected to make landfall near the mouth of the Mississippi River at about 7 p.m. CDT and then jog slowly through the night toward New Orleans before striking there early Wednesday, the National Hurricane Center (NHC) said.

New England must acknowledge the significant role that the natural gas transmission system plays in its electricity system, and the gas and electric industries “must make adjustments to ensure the reliability of both systems and the efficiency of both markets,” according to a draft white paper recently completed by independent grid operator ISO New England (ISO-NE).

New England must acknowledge the significant role that the natural gas transmission system plays in its electricity system, and the gas and electric industries “must make adjustments to ensure the reliability of both systems and the efficiency of both markets,” according to a draft white paper recently completed by independent grid operator ISO New England (ISO-NE).

Shale gas is the “magic bullet” the U.S. petrochemical industry needs to make a full recovery from a decade of economic stagnation, according to Houston-based Chemical Market Resources Inc. (CMR), which advises the chemical, petrochemical and plastics industries.

Shale gas is the “magic bullet” the U.S. petrochemical industry needs to make a full recovery from a decade of economic stagnation, according to researchers from Chemical Market Resources Inc. (CMR), a Houston firm that advises the chemical, petrochemical and plastics industries.

U.S. shale gas plays continued to make a substantial contribution to the country’s natural gas production, the Energy Information Administration (EIA) said Tuesday in a report that cited supply gains last month. However, a declining rig count signals that production declines are on the way, the agency said.

Flaws in a study of potential impacts of hydraulic fracturing (fracking) on drinking water supplies being conducted by the Environmental Protection Agency (EPA) must be addressed in order for the agency’s final report to be credible, according to a review of the study released Tuesday by the Battelle Memorial Institute.