Price

Ultimately the market will decide, but some industry stakeholders in North Dakota think the time may be fast approaching for the establishment of a Bakken crude oil price point, according to recent testimony to a state interim legislative committee examining the state’s energy future.

U.S. dry gas output continues to expand, but a lot of demand will begin tugging at supplies within a couple of years, according to analysts.

Natural gas cash prices fell hard, but futures held steady in Friday’s trading.

Closing out a disjointed week of ups and downs, physical natural gas prices for weekend and Monday delivery stayed the course Friday with most points adding or subtracting a few pennies to a nickel.

Checking a map is the first step to knowing where one is going, but when it comes to forecasting shale gas supply and demand, the map can throw some international gas end-users off course.

Thursday deliveries of physical natural gas overall fell another 8 cents on average Wednesday as soft power prices and a lack of not only supportive weather, but also a non-existent Atlantic tropical environment, continued to pressure the market. October natural gas options expired Wednesday and at the close of futures trading October had risen 0.1 cent to $3.493 and November had eased 1.3 cents to $3.546. November crude oil slid 47 cents to $102.66/bbl.

Physical natural gas prices Tuesday for delivery Wednesday experienced broad and pervasive selling as a weak screen, expectations of sizeable storage builds, and no tropical activity pulled the plug on pricing. Overall, prices settled on average 8 cents lower, and virtually no points made it to the positive side of the trading ledger. At the close of futures trading, October had fallen 11 cents to $3.492 and November was down by 11.8 cents to $3.559. November crude oil fell 46 cents to $103.13/bbl.

Nearly all active physical natural gas trading points declined Friday weekend and Monday delivery. The average setback was 8 cents, with Rockies points dropping a dime and losses at New England points closer to a nickel.

Physical natural gas prices for Tuesday delivery overall fell a penny on average Monday as most points fluctuated within a few cents of unchanged. Modest strength in the Midcontinent and double-digit gains at certain Marcellus points were unable to offset broad weakness elsewhere. At the close of trading October futures had retreated 8.5 cents to $3.602 and November was off 8.6 cents to $3.677. November crude oil dropped $1.16 to $103.59/bbl.