Notwithstanding Wednesday’s 11.8-cent decline in June natural gas futures (see Daily GPI, May 3), some market analysts believe the larger rebound in prices over the last month from sub-$2, 10-year lows is a sign of a tightening supply-demand balance ahead. However, “while we believe that summer 2013 prices have more room to rise, we believe that the rally in summer 2012 prices has gone too far,” said Goldman Sachs analysts David Greely and Johan Spetz.
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Most Points Keep Falling as Cold Weather Fades
A few flat to a little more than a dime higher western points notwithstanding, most of the cash market continued to sink Monday as what appeared to be the last vestiges of winter weather receded into the distance. Although one forecaster believed winter had one last blast of cold conditions left in it for next week, most traders were discounting any major surge of demand before spring officially arrives March 20.
Most Points Keep Falling as Cold Weather Fades
A few flat to a little more than a dime higher western points notwithstanding, most of the cash market continued to sink Monday as what appeared to be the last vestiges of winter weather receded into the distance. Although one forecaster believed winter had one last blast of cold conditions left in it for next week, most traders were discounting any major surge of demand before spring officially arrives March 20.
Cold Again Propels Gains, But Most Are Smaller
Some light warming trends notwithstanding, next-day heating load remained heavy Wednesday and continued to push prices higher at nearly all points. Sub-freezing lows remained plentiful in the overall forecast for Thursday, and some locations in the Rockies, Midwest and Western Canada could expect to see temperatures again sinking to around zero or less.
Chesapeake Marks ‘Record Quarter;’ CEO Notes Gas-Friendly Strife
Notwithstanding a hedging strategy that fell victim to robust commodity prices, Chesapeake Energy Corp. executives Friday touted a “record quarter” on a per-share adjusted basis with earnings of $1.09/share, the most in the company’s 15-year history.
Hedges Trip Chesapeake in ‘Record Quarter’
Notwithstanding a hedging strategy that fell victim to robust commodity prices, Chesapeake Energy Corp. executives last week touted a “record quarter” on a per-share adjusted basis with earnings of $1.09/share, the most in the company’s 15-year history.
Raymond James Bears See Gas Prices Collapsing in Late Summer
Recent weather-driven improvements in the U.S. natural gas market notwithstanding, Raymond James & Associates Inc. energy analysts are holding to their contrarian view on U.S. gas prices. A major gas supply increase this summer, brought on by increased liquefied natural gas (LNG) shipments, “should translate to gas-on-gas competition” later this year.
Raymond James Bears Still Expect Gas Prices to Collapse in Late Summer
Recent weather-driven improvements in the U.S. natural gas market notwithstanding, Raymond James & Associates Inc. energy analysts are holding to their contrarian view on U.S. gas prices. A major gas supply increase this summer, brought on by increased liquefied natural gas (LNG) shipments, “should translate to gas-on-gas competition” later this year.
LNG Erroneously Blamed for Dallas Explosion
An explosion and fire at a Dallas industrial company Wednesday morning was not due to liquefied natural gas (LNG) — early media reports to the contrary notwithstanding.
Northeast Citygates Lead Rally by Most Points
Several flat points and a couple of declining ones notwithstanding, prices were able to mount a rally in a large majority of the cash market Thursday. An influx of colder temperatures with occasional snowfalls into northern market areas spurred the general firmness, aided almost imperceptibly by a small futures increase of just under 2 cents the day before.