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August natural gas futures continued their three-week-plus decline on Monday as the prompt-month contract continues to zero in on the low for the move of $3.155 set back on April 27. The contract put in a low of $3.225 in Monday morning trading before closing out the day’s regular session at $3.263, down 11 cents from Friday’s finish.

After tacking on 17-plus cents to the front-month contract on Friday, natural gas futures bulls did so again on Monday, but some market watchers are not yet ready to classify the gains as a change in market direction. June futures on Monday added 17.9 cents to close out the regular session at $3.725.

Although a few points returned to the “plus” column Monday after Friday’s across the board declines, prices continued to drop in most of the cash market as typical shoulder-month weather and the previous Friday’s 31.6-cent plunge by the expiring April futures contract depressed physical quotes.

As a bipartisan group of senators worked behind closed doors Friday to shave more than $100 billion from the $900 billion-plus economic stimulus package, Capitol Hill sources expected that the bulk of the tax cuts and spending for renewable fuels production, construction of power transmission facilities and energy conservation would survive.

As a bipartisan group of senators worked behind closed doors Friday to shave more than $100 billion from the $900 billion-plus economic stimulus package, Capitol Hill sources expected that the bulk of the tax cuts and spending for renewable fuels production, construction of power transmission facilities and energy conservation would survive.

After the House redeemed itself in the eyes of many critics Friday by passing a revised $800 billion-plus package to rescue the financial and credits markets and extend tax credits for renewable energy and energy efficiency, as well as other expiring or expired corporate and personal tax credits, the bill was quickly signed into law by President Bush.

After the House redeemed itself in the eyes of many critics Friday by passing a revised $800 billion-plus package to rescue the financial and credits markets and extend tax credits for renewable energy and energy efficiency, as well as other expiring or expired corporate and personal tax credits, the bill was quickly signed into law by President Bush.

To absolutely no one’s surprise, cash prices fell at all points but one Thursday. Nearly all were 30 cents or more, with a few Rockies points seeing dollar-plus plunges. The reasons were obvious: receding cooling load in some regions, prior-day screen weakness and the extra loss of industrial load that accompanies a long holiday weekend.

Despite an absence of $5 billion-plus mergers and acquisitions (M&A) in the oil and gas patch, overall deal activity is rebounding on the strength of mid-size deal flow driven largely by onshore resource plays and offshore Gulf of Mexico (GOM) economics, according to analysts at Raymond James & Associates Inc.