September natural gas futures were unchanged Friday as traders reported that both buyers and sellers were not motivated to take action at current price levels. September ended flat at $3.931 and October had risen 0.6 cent to $3.912. October crude oil gained 7 cents to $85.37/bbl.
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Louisiana Lt. Governor Switches to Republican Party over Moratorium
Louisiana’s Lt. Gov. Scott Angelle Tuesday announced that he has switched his party affiliation to Republican from Democrat — a decision that was largely motivated by what he sees as the Democrats’ dislike of the oil and natural gas industry in general, and the imposition of the blanket moratorium on deepwater drilling in the Gulf of Mexico specifically.
Cash Prices Ride the Bull, Continue Upward
Cash prices started the new week on an upward note, largelymotivated by an early Nymex run-up and forecasts of colder weatherfor some major market areas. Except for Northeastern markets, spotprices at most trading points registered gains ranging anywherefrom 1 to 6 cents in the Gulf Coast area to more than 20 cents inCalifornia markets.