Northeast Plunge Leads Broad Retreat; Futures Slip Again

The cash market overall retreated 28 cents Wednesday, but if multi-dollar swan dives taken by Northeast and other thinly traded points are excluded, the drop comes to a more meaningful 11 cents. Nearly all points sustained sizeable losses. Midcontinent and California locations were down by double digits, but Gulf points also weakened. At the close of futures trading May had fallen 6.9 cents to $3.900 and June was off by 6.9 cents as well to $3.950. May crude oil plunged $2.74 to $94.45 on unsupportive inventory data and weak economic news.

April 4, 2013

Midwest, California Lead Cash Weakness; Futures Ease

Cash natural gas prices overall retreated on average about 3 cents, but if the high-flying Northeast delivery points are subtracted from the calculations, the decline comes out closer to a nickel. California and the Midwest were noted soft spots. At the close of futures trading November had fallen 4.9 cents to $3.437 and December was down 0.7 cent to $3.767. November crude oil added 24 cents to $92.09/bbl.

October 17, 2012

Northeast Points Lead Broad Decline, Yet Futures Inch Higher

The cash market retreated on average by 6 cents Thursday as traders elected to do their deals ahead of the release of important government inventory figures. Eastern and Northeast points took the biggest hits as forecasters were calling for unseasonably cool weather to infiltrate the Midwest and Ohio Valley, while losses in California were limited as a heat wave was expected to stay through the weekend..

August 10, 2012

California Points Steady, Northeast Plunges, and Futures Creep Lower

Physical natural gas prices across the country retreated on average by about 7 cents Monday, but Northeast locations had to endure double-digit losses, and in southern California prices were flat to a couple of cents higher. At the close of futures trading the April contract was down by 5.5 cents to $2.269 and May futures had fallen 5.2 cents to $2.373. April crude oil dropped $1.06 to $106.34/bbl.

March 13, 2012

Cash Catches Up to Weak Futures; Most Points Show Double-Digit Losses

All cash points retreated Tuesday with most sliding in double-digits as the physical market caught up with Monday’s late-session slide in futures and adjusted for continued weather moderation for much of March.

February 29, 2012

Futures Seen Falling Further; February Closes Down

February natural gas reacted to a weakening weather outlook and retreated under $3 again Tuesday. There remains little indication that the storage surplus will stop widening anytime soon, and traders look for continuing weakness. At the close February had fallen 7.0 cents to $2.941 and March had given up 8.0 cents to $2.970. February crude oil rose 93 cents to $102.24/bbl.

January 11, 2012

Weak Technicals, Hefty Rig Count Pummel Futures; November Tumbles

November natural gas retreated Friday as traders saw the market in an unstable technical environment and rig count figures showed another double-digit increase in gas drilling. At the close November had careened lower by 11.7 cents to $3.481 and December had fallen 9.6 cents to $3.820. November crude oil rose 39 cents to $82.98/bbl.

October 10, 2011

More Fund Selling Still In the Mix; October Weakens

October natural gas retreated Tuesday as not all traders are on board with historical seasonal weakness leading to higher prices and the funds and managed accounts being unwilling to push the market lower from present price levels. October lost 3.1 cents to $3.798 and November shed 4.7 cents to $3.885. October crude oil rose $1.19 to $86.89/bbl.

September 21, 2011

Natgas Can’t Resist Siren Call of Weak Oil, Equities; October Down

October natural gas fell hard Friday in a sympathetic move with free-falling equity and oil markets. October lost 17.8 cents to $3.872 and November retreated 17.6 cents to $3.990. October crude oil fared as poorly, losing $2.48 to $86.45/bbl.

September 6, 2011

Weather Seen Cooler; September Slides Moderately

September natural gas retreated Tuesday as traders factored in a mild change in the temperature outlook. At the close September had fallen 3.3 cents to $4.155 and October had eased 3.4 cents to $4.156. September crude oil fell $1.10 to $93.79/bbl.

August 3, 2011
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