The gas market this year is shaping up to be a lot like the market last year and observers should expect a pretty big dip in prices this summer, according to Steve Thumb of consulting firm Energy Ventures Analysis Inc. (EVA) in Arlington, VA. Thumb said rising domestic supply will be the biggest difference in the market this year.
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Influences Stay Much the Same in New Price Gains
A strong market rally was kept going Tuesday by pretty much the same influences that had spurred gains the day before: hotter weather trends in several areas; a major nuclear outage in the West, where the heat was greatest in the region’s southerly climes; and a streak of rising natural gas futures prices, which was into its third day despite softer oil product numbers at Nymex.
House Lawmakers Call for ‘Obstructionist Senators’ to Pass Energy Bill
Although natural gas and electricity deliveries went off pretty much without a hitch in the subzero Northeast region last week, key House lawmakers used the situation as a soapbox to call for the “obstructionist senators” to pass the ominbus energy bill (HR 6) when Congress returns this week.
MMS Says Tropical Storm Erika Claimed 334 MMcf from Gulf
After creating a pretty good scare for Gulf of Mexico producers at the end of last week, Tropical Storm Erika remained just that, a tropical storm, failing to reach hurricane status as it made landfall Saturday approximately 30 miles south of Brownsville, TX on the edge of the Mexican border city of Matamoros.
$3 Gas in April? What Gives?
Could astrology have the answer for why gas prices rose to $3 last week? Explanations are getting pretty hard to come by particularly when a near record warm winter is coming to a close and working gas levels in storage are expected to end the heating season more than double what they were at the same time last year.
Piedmont Natural Gas Comments on Earnings Estimates
Results aren’t going to be as pretty as had been expected this fiscal year, ending Oct. 31, North Carolina’s Piedmont Natural Gas said, but customers are coming back as gas prices go down, and the distributor is looking for better times ahead.
Piedmont Natural Gas Comments on Earnings Estimates
Results aren’t going to be as pretty as had been expected this fiscal year, ending Oct. 31, North Carolina’s Piedmont Natural Gas said, but customers are coming back as gas prices go down, and the distributor is looking for better times ahead.
Cash Rallies on Screen Spike, More Bullish Weather Outlook
The price picture looked pretty bleak for bullish types earlierthis week, but they were taking heart Wednesday from a cashrebound, further strength in futures and signs that winter weatherlikely will return for a new siege, just as the groundhog predictedlast Friday. Most eastern gains tended to be in the teens, but mostwestern points rose by 20 cents or more, with the PG&E citygate(up almost $1.50) as the leader of the pack.
Blackout-Impacted CA Only Market Not Still Sliding
“The market is tanking. That pretty well sums it all up in anutshell,” was how a Gulf Coast marketer characterized the pricesituation Wednesday. Only California, where a series of rollingblackouts began in the northern part of the state (see related story), failed to participate infurther price declines that were mostly between about a quarter and 50cents.
NRG Energy IPO to Fund Projects
NRG Energy Inc., which has evidenced some pretty big capitalplans of late, is going public. The Minneapolis-based subsidiary ofNorthern States Power filed for an offering of 18% of its commonstock. The maximum aggregate price of the offer is $600 million.All proceeds will remain with NRG Energy.