Overall

Cash natural gas prices rose 3 cents overall Monday, with gains paced by strong Northeast points undergoing pipeline outages, and higher points in California. Other major market centers were mixed. Futures prices waffled throughout the day, but managed a positive finish, with June ending up 1.5 cents to $3.925 and July adding 1.1 cents to $3.971. June crude oil fell 87 cents to $95.17/bbl.

Cash natural gas prices eased lower overall by a couple of pennies in featureless trading Monday. New England and eastern points were a couple of pennies higher, but Great Lakes locations were mixed, with changes within a couple of pennies of unchanged.

Spots cash prices played catch-up with the screen in Friday’s trading. The average overall loss was 34 cents, and all actively traded points endured declines in the 30-cent area. Traders see the highs for the year in place and see mounting fundamental pressure on prices in the spring and summer. At the close of futures trading, June had risen 1.6 cents to $4.041 and July also had gained 1.6 cents to $4.093. June crude oil, aided by a supportive employment report, gained $1.62 to $95.61/bbl.

With the legislature looking at adjournment May 8, a bill (HB 1269) that would restrict oil and natural gas representation and participation on the Colorado Oil and Gas Conservation Commission (OGCC) passed out of committee on a partisan 3-2 vote late Monday night, worrying industry backers.

Natural gas cash prices made a mid-spring advance of 4 cents overall Tuesday as a forecast influx of winter-like cold and snow was expected to pummel the nation’s midsection. The largest price increases were seen in the Midwest and Midcontinent, and California and the Gulf also registered gains. New England was flat to lower, and eastern prices made a nominal advance. At the close of futures trading, June had eased 4.9 cents to $4.343 and July was off 4.7 cents to $4.394. June crude oil fell $1.04 to $93.46/bbl.

Natural gas cash prices overall fell 4 cents in Wednesday’s trading as strength at eastern and northeast points was unable to offset slumping quotes at major market hubs and West Coast locations. Losses were widespread and only a few points managed to make it onto the positive side of the trading ledger. At the close of futures trading, May had fallen 7.2 cents to $4.166 and June was down 7.5 cents to $4.203. June crude oil added $2.25 to $91.43/bbl.

Cash prices added less than a penny overall in Thursday’s trading as traders got their deals done ahead of the release of government inventory figures.

Although overall month-over-month totals were down, production rates set all-time high marks for oil and natural gas in February in North Dakota, state officials reported Tuesday.

Proposed energy bills in the North Dakota legislature continue to hold the spotlight as state lawmakers move closer to their scheduled May adjournment. At least one proposal that could have had a negative impact on oil/natural gas operators was defeated last Friday.