Scored

The cash market scored an average gain of 8 cents in Tuesday’s trading. Gains were widespread and only a handful of thinly traded points fell into the loss column.

The overall physical natural gas market Tuesday on average gained 12 cents, but if super-sized gains scored at Northeast points are removed from the tally, the overall gain was a more modest 7 cents. Gains, nonetheless, were widespread and only a couple of locations didn’t make it to the positive side of the trading ledger. At the close of futures trading, March had fallen 4.9 cents to $3.230 and April was off 5.0 cents to $3.296. March crude oil added 48 cents to $97.51/bbl.

With few exceptions, all points scored at least double-digit gains Monday with some points putting in dollar-plus moves as cold weather sliced into the West over the weekend and was forecast to march eastward. On average gains were 28 cents overall, with the volatile Northeast points scoring the most gains. At the close February natural gas futures had added 4.6 cents to $3.373 and March was higher by 4.2 cents to $3.378. February crude oil gained 58 cents to $94.14/bbl.

Nearly all points scored double-digit gains, but Tennessee reported limited capacity available out of the Marcellus Basin and prices there plunged. Overall, physical prices for weekend and Monday delivery gained about 17 cents with Rockies and Midcontinent prices showing strong gains and Northeast and Southern California price rises somewhat more subdued.

Nabors Industries Ltd. shareholders apparently scored an industry first on Tuesday, approving a nonbinding resolution giving them power to oust members of the drilling contractor’s board of directors. The proxy access resolution is said to be the first successfully passed by shareholders of a major company.

August natural gas scored a double-digit gain Friday as traders noted what seems to be a never-ending series of forecasts calling for above-normal temperatures. At the close August was up 16.8 cents to $4.546 and September had added 16.2 cents to $4.520. August crude oil made an advance of its own adding $1.55 to $97.24/bbl.

Former BP plc CEO Tony Hayward, as well as former exploration chief Andy Inglis, have scored prominent positions in two energy firms. Vallares plc, an energy fund vehicle backed by Hayward and a group of high-profile investors, raised US$2.2 billion in an initial public offering, which is one-third more than the original target. Vallares, to be based in London, is sponsored by Hayward and financiers Nathaniel Rothschild, Tom Daniel and Julian Metherell, who is the former UK CEO for Goldman Sachs Group Inc. The company plans to buy an emerging-market energy firm or an energy asset with an enterprise value of US$4.85-12.9 billion, the sponsors said. Inglis has been tapped to run Petrofac plc’s new integrated energy services (IES) division.

Former BP plc CEO Tony Hayward, as well as former exploration chief Andy Inglis, have scored prominent positions in two energy firms.

July natural gas futures scored double-digit gains Thursday as traders factored in new government storage data that was well below expectations. At the close of trading July had gained a stout 16.5 cents to $4.794 and August was higher by 15.4 cents to $4.821. July crude oil rose 11 cents to $100.40/bbl.