Relatively

The level of natural gas supply looks “very good” going into the 2007-2008 heating season and current gas prices are relatively low compared to earlier this year, which bodes well for consumers, the American Gas Association (AGA) said Monday.

Prices fell at nearly all points Thursday, depressed by the previous day’s 15-cent loss by November futures, relatively light weather-based load and the fact that a low-pressure system in the north-central Gulf of Mexico (GOM) is not only failing to strengthen but also is not having any perceptible impact on offshore operations.

The Natural Gas Supply Association (NGSA) expects a relatively stable market this winter, thanks to forecasts of slightly warmer-than-normal temperatures, a flat economy and moderate growth in both natural gas demand and supply.

The Natural Gas Supply Association (NGSA) expects a relatively stable market this winter, thanks to forecasts of slightly warmer-than-normal temperatures, a flat economy and moderate growth in both natural gas demand and supply.

Drilling in a natural gas-prone area of western Colorado where an underground nuclear test took place nearly 40 years ago is “relatively safe,” a U.S. Department of Energy (DOE) study concluded.

Drilling in a natural gas-prone area of Colorado where an underground nuclear test took place nearly 40 years ago is “relatively safe,” a U.S. Department of Energy (DOE) study has concluded.

Unified price movement returned to the cash market Friday, and the direction was downward in a big way. Spot quotes bowed to relatively moderate late-summer weather trends in most areas (either existing or in the weekend forecast), prior-day futures weakness, the weekend drop of industrial load and new indications that little storage injection capacity remains with nearly two months left to go in the traditional injection season.

As expected, Thursday’s 17.8-cent advance by August futures was outweighed in Friday’s cash market trading by relatively mild weather outside the interior West and the loss of industrial load over a weekend. The result was falling prices at nearly all points. Flat to a little more than 20 cents higher quotes at several western points kept mixed price movement in play.

The Alaska Gasline Inducement Act (AGIA) was passed by the state’s House and Senate finance committees with relatively minor changes late Thursday, and Gov. Sarah Palin said she was optimistic the bill would pass the Legislature with most of the original language intact. Floor votes on both bills were expected on Friday.