Quick

April natural gas futures declined in active inventory-report driven trading Thursday. Short-term traders were quick to cite the end of winter as the near-term market driver and discounted the release of inventory data by the Energy Information Administration (EIA). Longer term, analysts suggest that the market has limited downside potential. At the close April futures fell 9.2 cents to $4.767 and May slid 9.6 cents to $4.831. April crude oil shed $1.83 to $78.17/bbl.

April natural gas futures declined in active inventory-report driven trading Thursday. Short-term traders were quick to cite the end of winter as the near-term market driver and discounted the release of inventory data by the Energy Information Administration (EIA). Longer term, analysts suggest that the market has limited downside potential. At the close April futures fell 9.2 cents to $4.767 and May slid 9.6 cents to $4.831. April crude oil shed $1.83 to $78.17/bbl.

The economy’s recovery won’t be quick, but the beginning could be close at hand, according to two Midwestern gas and power utility executives.

The quick turnaround in U.S. natural gas supplies is another example of energy markets working as has been the case in the regional transmission area for electricity, FERC Commissioner Marc Spitzer said last Tuesday at an energy conference in San Francisco, “Energy in California.” Technology advances and the right government policies have made it easier for the gas industry to respond quickly to price signals in recent years, Spitzer said.

The quick turnaround in U.S. natural gas supplies is another example of energy markets working as has been the case in the regional transmission area for electricity, FERC Commissioner Marc Spitzer said Tuesday at an energy conference in San Francisco, “Energy in California.” Technology advances and the right government policies have made it easier for the gas industry to respond quickly to price signals in recent years, Spitzer said.

The American Petroleum Institute (API) last week applauded the Florida House of Representatives’ quick passage of a bill that would set the stage for oil and natural gas drilling in state waters. But the victory was short-lived as Senate officials said they had no intention of addressing the measure in the remaining few days of the legislative session.

The American Petroleum Institute (API) applauded the Florida House of Representatives’ quick passage of a bill that would set the stage for oil and natural gas drilling in state waters. But the victory was short-lived as Senate officials said they had no intention of addressing the measure in the remaining few days of the legislative session.

Demand weakness has forced domestic natural gas producers to lay down rigs at a quick clip, but inventories still may finish the 2009 injection season with 3.9 Tcf in storage, Barclays Capital energy analysts said in a report this week.

After dropping less than a nickel on Monday, April natural gas futures rebounded on Tuesday, but traders and analysts were quick to note that a sustained tally was unlikely. The prompt-month contract closed 13 cents higher on the day at $4.282.