Round

September natural gas futures blasted below the old low for the move downward on Monday before rebounding in afternoon trade on a round of short-covering sparked by the development of Tropical Storm Gustav. The prompt-month contract recorded a low of $7.617 before closing out at $7.825, down 1.8 cents on the day.

Probing below well identified support at $8.200 in Wednesday morning trade triggered an energetic round of buying in September natural gas futures that lasted well into the afternoon. The front-month contract peaked at $8.736 just after 1 p.m. EDT before sliding to close at $8.456, which was still good for a 12.6-cent gain from Tuesday’s regular session finish.

Sparked mostly by a round of crude weakness and U.S. dollar strength, August natural gas futures plummeted following the long holiday — breaking beneath psychological support at $13 along the way. The prompt-month contract recorded a low of $12.874 before going on to settle at $12.977, down 60 cents from Friday’s finish.

The Canadian government has opened a new round of financing discussions for the Mackenzie Gas Project (MGP) with a blunt reminder that no public money is available to the faltering proposal.

The Canadian government has opened a new round of financing discussions for the Mackenzie Gas Project (MGP) with a blunt reminder that no public money is available to the faltering proposal.

Transcontinental Gas Pipe Line Corp. (Transco) is holding an open season for up to 250,000 Dth/d of incremental year-round firm capacity on its mainline from the Station 85 pool near Butler in Choctaw County, AL, for delivery upstream of the North Carolina-Virginia border.

Transcontinental Gas Pipe Line Corp. (Transco) is holding an open season for up to 250,000 Dth/d of incremental year-round firm capacity on its mainline from the Station 85 pool near Butler in Choctaw County, AL, for delivery upstream of the North Carolina-Virginia border.

October natural gas futures shot 37.4 cents higher Monday to close at $6.653 as the market dealt with another round of short-covering supported by continued crude price strength combined with news that a compressor station outage had cut off deliveries to Cheyenne Plains Gas Pipeline from two major pipes out of the Rockies.

In what might be yet another round of “buy the rumor, sell the fact,” natural gas futures traders pushed the February contract lower on Wednesday despite the fact that the freezing cold weather forecasted weeks ago was finally coming to fruition for much of the United States. The prompt month put in a low of $6.200 before closing at $6.234, down 40.4 cents on the day.