Physical

Physical natural gas prices overall added another penny on average with strength noted in the Midwest and some eastern locations. California points eased as temperatures were expected to moderate through the week, giving the area a break from a fall heat wave.

Physical natural gas prices overall jumped on average 7 cents Monday led by double digit gains on the West Coast, and added strength from eastern points. Operational problems in California prompted gains at supply points as far away as the Rocky Mountains. At the close of futures trading October had fallen 4.8 cents to $2.837 and November was 3.8 cents lower at $3.033. November crude oil slid 96 cents to $91.93/bbl.

Physical gas prices on average Thursday were flat with weakness noted on Northeast pipes and firming prices in Southern California. The Energy Information Administration (EIA) reported a storage build of 67 Bcf, about in line with expectations, and futures worked higher. At the close of futures trading October had risen 3.5 cents to $2.797 and November was up by 1.7 cents to $2.962. October crude oil fell 11 cents to $91.87/bbl.

Overall physical gas Wednesday was unchanged on average with Rockies points the major winners and volatile Northeast points showing the greatest losses. Midwestern and eastern locations were largely flat. At the close of futures trading the October contract had fallen 1.1 cent to $2.762 and November was 1.6 cent lower at $2.945. October crude oil plunged $3.31 to $91.98/bbl.

All actively traded cash points recorded losses on gas for weekend and Monday delivery in Friday’s trading. The physical market on average fell 13 cents with Northeast points enduring the greatest declines. Eastern and Gulf points were weak as well. At the close of futures trading October had shed 9.4 cents to $2.943 and November had dropped 8.1 cents to $3.083. October crude oil added 69 cents to $99.00/bbl.

The physical market bounded sharply higher Tuesday, prompted by a strong screen and low inventories at some points. Nearly all points recorded double-digit gains. At the close of futures trading, October had added 18.0 cents to $2.992 and November had climbed 16.3 cents to $3.104. October crude oil gained 63 cents to $97.17/bbl.

The physical market weakened about 3 cents on average overall Thursday with modest gains posted in the Northeast and more prevalent weakness shown at eastern, Midwest and California points.

The physical market overall on average rose 6 cents Wednesday led by volatile trading at Northeast points. Eastern locations as well as Marcellus market points gained, but Midwest locations inched higher. At the close of futures trading October had fallen 5.9 cents to $2.795 and November was off 6.3 cents to $2.937. October crude oil rose 6 cents to $95.36/bbl.

The physical market overall on average fell about 2 cents Wednesday in spite of short-term weather forecasts calling for warm temperatures and much of the Gulf of Mexico production shut-in. Midwest and eastern points were weak but California locations managed modest gains. At the close of futures trading the expired September contract had managed a 2.0 cent gain, reversing a string of four losses to $2.634 and October had gained 5.2 cents to $2.685. October crude oil fell 84 cents to $95.49/bbl.