Predicted

Executives at U.S. Steel Corp. said last week the company has begun to lock in natural gas prices for the year and predicted that demand for the company’s steel tubes, which are used for oil and natural gas drilling, will remain strong in the first quarter.

Executives at United States Steel Corp. said the company has started to lock in natural gas prices for the year and predicted that demand for the company’s steel tubes, which are used for oil and natural gas drilling, will remain strong in the first quarter.

As a Northeast marketer had predicted the day before, prices continued to move higher Friday (including several spikes) at citygates in his region, but moderate softness reigned in the rest of the market. The Northeast was bracing for a cold blast with temperatures bottoming out around freezing or lower. But although similarly frigid conditions were in the forecasts for the Midwest as far south as the Midcontinent and for the Rockies, those areas failed to find enough heating load to lift prices.

Only a few points in the Pacific Northwest/Northern California area were able to avoid to avoid continuing price drops Monday. As predicted last week, temperatures are dividing into below normal in the West and above normal in most of the East. The post-weekend restoration of industrial demand had essentially no price-boosting impact.

Energy analysts predict more than 50% of the natural gas produced in the United States will come from shale by the year 2030, coupled with a rising demand for natural gas in power generation and an opportunity to export to world markets.

Oil and gas producer North American capital expenditures (capex) will continue to grow next year but not as fast as it did this year, predicted analysts at Raymond James & Associates Inc. The global economic outlook and oil prices will drive spending trends, the firm said.

Oil and gas producer North American capital expenditures (capex) will continue to grow next year but not as fast as it did this year, predicted analysts at Raymond James & Associates Inc. The global economic outlook and oil prices will drive spending trends, the firm said.

With Florida temperatures predicted to be in the 90s, Florida Gas Transmission notified market-area customers that it was issuing an Overage Alert Day for Tuesday at 25% tolerance for negative daily imbalances.

September natural gas ground lower as traders saw no additional risk premium resulting from a strengthening Hurricane Irene and predicted that the market would continue to trade in a narrow range. At the close September futures had fallen 5.1 cents to $3.889 and October had retreated 7.2 cents to $3.869. September crude oil rose $1.86 to $84.12/bbl.