Those who viewed the lackluster morning trade and forecasted a quiet lead into the weekend for natural gas futures were sorely mistaken as a fierce round of short-covering was sparked just before 2 p.m. EDT. April natural gas futures reached a high of $4.425 before closing out the regular session at $4.403, up 15.9 cents from Thursday’s close.
Quiet
Articles from Quiet
Futures Add a Nickel as Traders Await Fresh Inventory Data
With traders not interested in making waves ahead of fresh inventory news Thursday, natural gas futures action was fairly quiet on Wednesday as the February contract traveled a slim range of just more than a dime before closing the regular session at $4.531, up a nickel from Tuesday’s finish.
Pipeline Blast Shouldn’t Have Happened, PG&E Exec Says
The Sept. 9 San Bruno natural gas transmission pipeline blast that killed eight people and destroyed 37 homes in a quiet suburban San Francisco Bay Area neighborhood shouldn’t have happened and should not be repeated anywhere in the future, a Pacific Gas and Electric Co. (PG&E) executive told NGI.
PG&E Gas Pipeline Blast Rocks Bay Area Suburb; Cause Unknown
Federal officials, utility workers, emergency response teams and nonprofit volunteer organizations descended on a normally quiet residential neighborhood in a San Francisco suburb Friday working their way deliberately through the rubble from a major natural gas transmission pipeline explosion and fire that destroyed dozens of homes, killed at least four residents and left more than 50 people injured, eight critically. Identifying the cause of the catastrophe, however, appeared to be out of reach until the water and power infrastructures in the immediate area were stabilized.
Futures Inch Higher; Traders Eye Summer LNG-Fueled Volatility
May natural gas futures recorded their second consecutive “quiet” session on Tuesday, but one broker noted that increased volatility is likely ahead once the liquefied natural gas (LNG) supply, demand and price dynamics play out as early as this summer. Front-month natural gas closed 3.7 cents higher Tuesday at $3.776.
Consultant Sees Upswing in LNG Imports Next Year
After a quiet 2008, the U.S. liquefied natural gas (LNG) market could be significantly impacted by new imports in 2009 with about 2,868 Bcf of new LNG hitting global markets between November 2008 and December 2009, according to Houston-based consultancy Waterborne Energy Inc.
Consultant Sees Upswing in LNG Imports Next Year
After a quiet 2008, the U.S. liquefied natural gas (LNG) market could be significantly impacted by new imports in 2009 with about 2,868 Bcf of new LNG hitting global markets between November 2008 and December 2009, according to Houston-based consultancy Waterborne Energy Inc.
Futures Back Above $10; Sources See Potential for New High
After a mostly quiet session of straddling the psychological $10 price level, May natural gas futures on Monday lurched higher to close at $10.053, up 15.2 cents from Friday’s close. The renewed push has some market experts seeing even higher prices this time around.
$7 Support Holds Up Again as Futures Record Small Gain
With winter storms pounding a number of U.S. regions on Wednesday, natural gas futures in quiet trading recorded their first gain in seven sessions. The January contract traded in a $7.100 to $7.265 range before settling at $7.185, up three pennies from Tuesday’s close.
Puget Sound Energy Readying Merger Filings
Despite a pre-merger quiet period, Puget Sound Energy (PSE) is busily preparing a deluge of regulatory filings by the end of the year on its proposed $7.4 billion merger with a consortium of Australian and Canadian private equity interests bidding to take the Bellevue, WA-based utility private.