August natural gas futures managed to hold on to early gains and settle squarely in the bullish camp perplexing some traders. Longer-term observers see a strong physical market and the need to price in reduced injections in upcoming weeks. At the close August had risen 8.3 cents to $4.288, and September had gained 7.3 cents to $4.277. August crude oil fell $1.05 to $95.15/bbl.
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Tests Results of Quebec’s Macasty Shale ‘Encouraging’
Results of core and petrophysical analyses from a well on Quebec’s Anticosti Island are “encouraging,” according to Corridor Resources Inc. and Petrolia Inc., which hold leases covering more than 1.5 million acres on the island.
February 14, 2011
AGA Storage Number Still Perplexing Market Observers
Many market experts remained in disbelief Thursday over the American Gas Association’s (AGA) report of a 3 Bcf net injection into the nation’s storage facilities last week. An injection that small in August is unprecedented and had a stunning impact on prices, pushing near-month futures up 37 cents on Wednesday with a similar increase in cash Thursday morning. However, many marketers said they were attempting to ignore the data as an anomaly or an outright mistake by AGA or the storage companies it surveys.
August 17, 2001
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