Putting

The IntercontinentalExchange (ICE ) Friday notified over-the-counter (OTC) financial gas market participants of the position limits and accountability levels it is putting in place beginning with the expiration of the September 2010 contract (Aug. 25, 2010) for seven natural gas basis swaps that were designated for the treatment by the Commodity Futures Trading Commission (CFTC).

Natural gas futures bears were stymied for a second straight day Wednesday as April natural gas failed to dredge new territory. After putting in a low of $4.680, the prompt-month contract finished the regular session at $4.757, up 4.9 cents from Tuesday’s close.

Natural gas futures bears were stymied for a second straight day Wednesday as April natural gas failed to dredge new territory. After putting in a low of $4.680, the prompt-month contract finished the regular session at $4.757, up 4.9 cents from Tuesday’s close.

Natural gas futures bulls on a three-day 65.5-cent run higher ran into somewhat of a wall Wednesday after putting in a $5.230 high in the overnight Tuesday trading session. Despite the frigid winter storm currently battering a number of U.S. regions, the January contract during Wednesday’s regular session put in a low of $4.880 before closing out the day at $4.898, down 21.6 cents from Tuesday’s finish.

After putting in a new low for the move of $3.155 in morning trade, May natural gas futures ended up creeping higher from there for the remainder of Monday’s regular session before closing at $3.253, down 4.4 cents from Friday’s finish. Despite the fact that there is no bullish case anywhere to be found, traders and analysts warned that anything can happen Tuesday, which marks the May contract’s expiration.

Putting to bed the long-running dispute between utilities and environmental advocates over power plant cooling water intake structures, the U.S. Supreme Court said last week that the Environmental Protection Agency (EPA) can run a cost-benefit analysis to determine the best technology for mitigating the environmental impact rather than simply selecting the best technology available. The high court’s 6-3 ruling overturned a decision made last year by the U.S. Court of Appeals for the Second Circuit.

A surprise 16 Bcf natural gas storage injection from the Producing region for the week ended Feb. 13 was putting significant downward pressure Thursday morning on psychological futures support at the $4 level. Shrugging off an almost $5/bbl gain in crude futures, March natural gas futures ended up closing out the day’s regular session at $4.078, down 13.6 cents from Wednesday’s close.

Putting to bed the notion that ozone production is just a hot summer day in the city phenomenon, a new study by the National Oceanographic and Atmospheric Administration (NOAA) has discovered that “health-threatening” levels have been found during the winter near the remote Jonah Field and Pinedale Anticline natural gas formation in northwestern Wyoming. More alarmingly, data points to the problem being global.

Putting to bed the notion that ozone production is just a hot summer day in the city phenomenon, a new study by the National Oceanographic and Atmospheric Administration (NOAA) has discovered that “health-threatening” levels have been found during the winter near the remote Jonah Field and Pinedale Anticline natural gas formation in northwestern Wyoming. More alarmingly, data points to the problem being global.