Mixed

Futures were mixed in light pre-inventory report trading Wednesday. Short-term traders noted little in the way of directional trading and cited forecasts of warmer eastern weather expected to take some of the edge off any weather-driven advances. At the close February futures fell one-tenth of a penny to $4.287 and March added 1.1 cents to $4.298. February crude oil fell 37 cents to $91.12/bbl.

Natural gas futures drew to a mixed close Tuesday as traders cited little in the way of new fundamental data and noted the rolling of short positions into more deferred contract months. At the close November futures rose 2.8 cents to $3.629 and December fell 1.8 cents to $3.992. November crude oil lost 54 cents to $81.67/bbl.

Price changes continued to be mixed for a second straight day Tuesday, but slight downturns remained slightly dominant. A small retreat of high temperatures coming Wednesday in parts of the South, along with mild forecasts for the Northeast, Midwest/Midcontinent and Rockies, were abetted by the previous day’s decline of about a nickel by September futures in sending a small majority of cash points lower.

Although most points continued to drop Monday, mild firmness at several points created a mixed market and indicated slightly more firmness than on the preceding Friday when all points were down. Except for high temperatures with peaks from the mid 90s to the mid 100s forecast for Tuesday from the Southeast through the desert Southwest, most areas were expected to have relatively moderate temperatures around 90 or lower.

Natural gas cash prices were predominantly down Monday across the United States with the exception of the East, which saw mixed action with more gains than losses.

Questar Corp., which is preparing for the likely spin-off of its exploration and production (E&P) business later this year, last week reported a mixed earnings report for the first three months of 2010, in part because of lower natural gas prices.

Questar Corp., which is preparing for the likely spin-off of its exploration and production (E&P) business later this year, on Wednesday reported a mixed earnings report for the first three months of 2010, in part because of lower natural gas prices.

The natural gas futures market sent mixed signals Tuesday as the April contract failed to record a new low for the larger down move, but still declined overall for the day. The prompt-month contract put in a low of $4.476 before finishing out Tuesday’s regular session at $4.516, down 1.1 cents from Monday’s close.

The natural gas futures market sent mixed signals Tuesday as the April contract failed to record a new low for the larger down move, but still declined overall for the day. The prompt-month contract put in a low of $4.476 before finishing out Tuesday’s regular session at $4.516, down 1.1 cents from Monday’s close.