Participants

Natural gas futures gained ground ahead of weekly government storage figures Wednesday, but cash market participants saw prices ease by mostly less than a dime, ecept for a few Northeast points which dropped by less than 15 cents. At the close of futures trading March rose 1.7 cents to $2.643 and April added 0.2 cent to $2.775. April crude oil gained 3 cents to $106.28/bbl.

Participants in the Canadian energy industry are signaling that its switch of drilling targets to oil and natural gas liquids (NGL) will continue and accelerate.

The Commodity Futures Trading Commission (CFTC) on Thursday said it has adopted amendments to help ensure that market participants have adequate financial backing for the risks that are inherent in the market. The CFTC action comes as part of Washington’s multi-pronged overhaul of the financial regulatory system following the economic crisis of the last few years.

The Commodity Futures Trading Commission (CFTC) on Thursday said it has adopted amendments to help ensure that market participants have adequate financial backing for the risks that are inherent in the market. The CFTC action comes as part of Washington’s multi-pronged overhaul of the financial regulatory system following the economic crisis of the last few years.

FERC approved two orders Thursday that commissioners said will make the energy market enforcement process more transparent to market participants and consumers.

FERC approved two orders Thursday that commissioners said will make the energy market enforcement process more transparent to market participants and consumers.

With most market participants having finished their December natural gas futures business by last week, the prompt-month contract had a mostly uneventful ride into expiration on Tuesday. December natural gas traded between $4.361 and $4.610 on low volume before going off the board at $4.486, up 1.3 cents from Monday’s finish. The January contract closed the day at $4.766, down 2.5 cents.

October natural gas futures exploded higher once again on Wednesday, and with the bearish fundamental picture remaining unchanged, market participants were attempting to identify a catalyst. While some were convinced that the recent activities of the United States Natural Gas Fund (UNG) played a role, others saw the extended rally as nothing more than a wave of fund short-covering.

September natural gas futures gained 16.1 cents to settle at $6.352 Wednesday, but short-term traders attributed much of the day’s gain to market participants growing weary of being buffeted by competing weather outlooks and an unsettled tropical picture.