Points

Unable to maintain the upside momentum that natural gas cash points have enjoyed for most of the last week and a half, averages on Wednesday fell in a big way, which just so happened to coincide with the first significant decline in front-month natural gas futures since the contract rollover on April 29.

A survey of 50 of the largest U.S. exploration and production (E&P) companies indicates natural gas output rose 0.8 Bcf/d, or 2.5%, in 1Q2010 from the previous three months, which points to stronger output through most of the year, SunTrust Robinson Humphrey/the Gerdes Group (STRH) said Wednesday.

Despite negative guidance from the prior-day screen, cash points for the most part Wednesday remained resilient with most spots picking up from a couple of pennies to just less than a dime.

Several flat to about a nickel higher points in various regions managed to escape the overall moderate softness that enveloped the market Tuesday. The previous day’s half-penny advance by May futures did nothing to influence cash numbers, so the physical market finally had to acknowledge that advances in the past few days were made with essentially no support from weather fundamentals.

Several flat to about a nickel higher points in various regions managed to escape the overall moderate softness that enveloped the market Tuesday. The previous day’s half-penny advance by May futures did nothing to influence cash numbers, so the physical market finally had to acknowledge that advances in the past few days were made with essentially no support from weather fundamentals.

A few points had held out with flat to mildly higher prices a day earlier, but all of the cash market was united in falling numbers Thursday as moderate spring weather and weak futures ganged up to depress physical prices.

A few points had held out with flat to mildly higher prices a day earlier, but all of the cash market was united in falling numbers Thursday as moderate spring weather and weak futures ganged up to depress physical prices.

Tuesday’s cash market bore a resemblance to the one preceding it in that all points achieved further gains, and most of them were strong. However, the Western Canada locations of Empress and AECO C failed to surpass the dime level, preventing a second day of solid double-digit advances.

Tuesday’s cash market bore a resemblance to the one preceding it in that all points achieved further gains, and most of them were strong. However, the Western Canada locations of Empress and AECO C failed to surpass the dime level, preventing a second day of solid double-digit advances.