Scouting

After scouting both lower and higher prices on Monday, natural gas futures traders appeared content to relax on Tuesday as the May contract traded a tight range before closing at $3.689, up 6.1 cents on the day.

Taking the Tropical Depression 10-induced shut-in production into account, October natural gas futures bumped higher on Friday after scouting out support in morning trade. After notching a $5.800 low, the prompt month climbed higher, recording a high of $6.130 before settling at $6.080, up 7.2 cents on the day but 19.9 cents lower than the previous week’s close.

With Friday’s profit-taking rebound out of the way, traders resumed scouting for lower prices on Monday as August natural gas recorded a low of $6.555 before closing out the day’s regular session at $6.764, down almost a penny from Friday’s close.

Although its higher profile energy scouting work these days involves potential wind generation sites, PPM Energy, the Portland, OR-based merchant energy operator in the United States for UK-based ScottishPower, is actively looking to buy or develop natural gas storage facilities. And the company is not confining its interest to the Pacific Northwest, according to company officials.

Although its higher profile energy scouting work these days involves potential wind generation sites, PPM Energy, the Portland, OR-based merchant energy operator in the United States for UK-based ScottishPower, is actively looking to buy or develop natural gas storage facilities. And the company is not confining its interest to the Pacific Northwest, according to company officials.