After winding lower from the mid-$3.80s in early Thursday trading, the November natural gas futures contract took an even deeper plunge following news from the Energy Information Administration (EIA) that 85 Bcf was injected into underground storage for the week ending Oct. 1. In the minutes before the regular trading session closed, the prompt-month contract tested the $3.610 low for the year recorded on Aug. 27.
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Halliburton: North American Activity Strengthening
Oilfield services giant Halliburton saw its international profits plunge in the first three months of the year, but North American activity sustained the company, led by strong growth in unconventional natural gas and oil basins.
Halliburton: North American Activity Strengthening
Oilfield services giant Halliburton saw its international profits plunge in the first three months of the year, but North American activity sustained the company, led by strong growth in unconventional natural gas and oil basins.
Screen Dive Pulls All of Cash Market Lower
The expiration-day plunge by November futures had the anticipated effect of dragging all cash points considerably lower Thursday. Also, warming trends in the Northeast and Rockies were reducing heating load further. The fact that Thursday’s deals included a weekend flow day (Saturday) because of the transition to a new month on Sunday added another modestly bearish element to the market.
Gazprom Seeks Strong Carbon Position, Others Weigh In
Russian-based natural gas behemoth Gazprom has added a new wrinkle to its all-out plunge into North American energy markets by riding the climate change wave and the focus on reducing carbon emissions, according to John Hattenberger, president and managing director for Gazprom Marketing and Trading USA Inc.
Gazprom to Establish a ‘Strong Position’ in Global Emissions Trading
Russian-based natural gas behemoth Gazprom has added a new wrinkle to its all-out plunge into North American energy markets by riding the climate change wave and the focus on reducing carbon emissions, according to John Hattenberger, president and managing director for Gazprom Marketing and Trading USA Inc.
Screen Plunge Leads to All-Points Cash Drops
Not surprisingly on the day after storage news got even more bearish than before and caused a plunge of 38.3 cents by April futures, cash numbers fell at all points Friday. Except for the Rockies, Western Canada and a few sections of the Midwest, freezing lows were continuing to disappear from the overall forecast. The usual weekend decline of industrial load was a slightly negative factor in Friday’s market.
Cold Forecasts, Screen Sustain Rally at Most Points
Forecasts of a Midwest plunge into frigid conditions again after a brief warming trend, along with colder temperatures forecast for the eastern South, kept the cash price rally that had begun Monday going at a large majority of points. Monday’s gain of 10.1 cents by February futures also contributed to the overall firmness of the physical market.
Weekend Prices Drop Across the Board
Cash prices fell at all points Friday, depressed by forecasts of cold weather moderating in some areas by the end of the weekend, a 42.7-cent plunge in December futures a day earlier and the usual weekend drop of industrial load.
Softness Dominant Again as GOM Recovery Begins
Most points kept falling Wednesday due to a prior-day screen plunge of 68.2 cents and unseasonably moderate weather continuing to prevail in many areas. Another bearish factor was the growing perception that Hurricane Gustav caused little significant damage to Gulf Coast infrastructure — either offshore or onshore — and restoration of shut-in Gulf of Mexico (GOM) production was under way and could be expected to ramp up fairly quickly.