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With natural gas commodity prices currently trading at a $3-plus premium over last year at this time, consumers could face a long cold 2008-2009 winter.

After breaking above $12 on three separate occasions in recent trading but failing to hold on for the all-important $12-plus close, July natural gas futures on Tuesday completed the task, which could open the door for further advances. The prompt-month contract closed Tuesday’s regular session at $12.221, up 25.2 cents from Monday’s close.

With natural gas commodity prices currently trading at a $3-plus premium over last year at this time, consumers could face a long cold 2008-2009 winter.

Unitil Corp. has agreed to purchase Northern Utilities Inc. and Granite State Gas Transmission Inc. from NiSource Inc. for $160 million plus an estimated $25 million for natural gas storage inventory and other working capital items, the companies said Tuesday.

Southwestern Energy Co. has sold its gas distribution business, Arkansas Western Gas Co., to SourceGas LLC, an affiliate of GE Energy Financial Services and Alinda Investments LLC for $224 million plus working capital.

Taking corrective action following Tuesday’s 21-cent-plus gain, natural gas futures traders pushed the expiring September contract to a low of $5.380 on Wednesday before it went off of the board at $5.430, down 16.3 cents on the day.

Stellar production growth from Bill Barrett Corp.’s (BBC) Uinta and Piceance basin properties — plus hedges placed on more than 60% of the gas output — helped the company escape relatively unscathed in 2Q2007 from low Rocky Mountain prices.

Stellar production growth from Bill Barrett Corp.’s (BBC) Uinta and Piceance basin properties — plus hedges placed on more than 60% of the gas output — helped the company escape relatively unscathed in 2Q2007 from low Rocky Mountain prices.

High heat levels that kept air conditioners humming in many areas, plus a large dose of prior-day support from Tuesday’s gain of nearly 29 cents by August futures, led to higher cash prices at most points Wednesday. Northeast citygates constituted a conspicuous exception as the region is in transition from early week highs in the 90s to peak temperatures on either side of 80 degrees Thursday.