Marking the turning in the seasons from injection to withdrawal, the Energy Information Administration (EIA) reported Thursday that 9 Bcf was pulled out of underground natural gas storage for the week ended Nov. 9. With the withdrawal well within industry expectations, natural gas futures continued its recent path of probing the downside, recording a low of $7.650 before closing out at $7.700, down 13.5 cents from Wednesday.
Pulled
Articles from Pulled
EnCana CEO Calls Deep Panuke ‘A Keeper’
EnCana Corp. has pulled back on its exploration activities in eastern Canada because of limited success, but CEO Randy Eresman said Thursday the company remains committed to developing the natural gas reserves in the Deep Panuke field offshore Nova Scotia. The field, he said, “is a keeper for us.”
Michigan Gas Bills Benefit from Mild Temps, Lower Wholesale Prices
The political backlash from high winter heating bills may not be nearly as severe as first expected because mild weather has pulled the rug out from under wholesale prices. Consumers Energy said Wednesday that its customers can expect about half of the increase in prices that the utility previously projected.
Nymex Plans to Sell 10% Equity Stake for $135M to Global Equity Firm
Nymex Holdings on Tuesday said it pulled the trigger on a 10% equity sale to General Atlantic LLC, a global private equity firm that will buy the stake in the New York Mercantile Exchange for $135 million.
‘Thin’ Storage Draw Tips Scales in Bears’ Favor; Futures Drop 23 Cents
Natural gas futures reached new three-week lows Thursday morning on the surprising news that 188 Bcf was pulled from underground storage last week, well below consensus estimates focused on a 200-230 Bcf draw. The March contract was dealt the biggest blow by the news, dropping 22.7 cents for the session to finish at $6.149.
CPUC Postpones Action on Long Beach LNG Investigation
Without discussion or comment, the head of the California Public Utilities Commission (CPUC) Thursday pulled from consideration a last-minute item to launch an investigation of the liquefied natural gas (LNG) receiving terminal plans for Long Beach Harbor. The issue is to be considered at the regulators’ next regularly scheduled business meeting April 22.
CPUC Postpones Action on Long Beach LNG Investigation
Without discussion or comment, the head of the California Public Utilities Commission (CPUC) Thursday pulled from consideration a last-minute item to launch an investigation of the liquefied natural gas (LNG) receiving terminal plans for Long Beach Harbor. The issue is to be considered at the regulators’ next regularly scheduled business meeting April 22.
Merchant Industry Turnaround to Take Time, Says Panel
Call it a turnaround or call it a market correction, but whatever it is, the energy trading industry has pulled itself out of the mud and now is scrubbing off the dirt — but it may take a long soak in the tub, a panel of energy merchant veterans said Thursday.
Merchant Industry Turnaround to Take Time, Says Panel
Call it a turnaround or call it a market correction, but whatever it is, the energy trading industry has pulled itself out of the mud and now is scrubbing off the dirt — but it may take a long soak in the tub, a panel of energy merchant veterans said Thursday.
Bearish Storage Bows to Weather as Futures Rebound Thursday
After bending, but not completely breaking lower on the news that a paltry 52 Bcf was pulled from underground storage facilities last week, natural gas futures prices rebounded Thursday in sympathy with frigid temperatures and spiking cash prices. The February contract finished at $7.094, up 21.6 cents for the session.