The U.S. Environmental Protection Agency (EPA) is probing a chemical emergency at an oil well facility in January, where an inventory of chemicals wasn’t available to first responders as required under federal law.
Articles from Screen
Physical natural gas prices on average rose 8 cents Monday led by strong gains posted by East and Northeast points, hefty screen gains, and buoyant next-day power prices. New England locations proved to be the biggest winners, but eastern points were not far behind. Gulf and California points firmed as well. At the close of futures trading July had advanced 14.2 cents to $3.875 and August rose 13.8 cents to $3.897. July crude oil slipped 8 cents to $97.77/bbl.
Natural gas cash prices overall for weekend and Monday delivery played catch-up with Thursday’s screen decline and dropped on average approximately 16 cents nationally. Volatile Northeast and eastern locations led the slide and double-digit declines were common.
Physical natural gas prices on average fell a penny in Tuesday’s trading as a weak screen, soft power market and lack of weather developments kept buyers and sellers from needing to pursue much in the way of incremental volumes. Most major trading hubs were down a few pennies, and in the Northeast quotes were mostly balanced on either side of unchanged. The East was unchanged to a penny or two lower, and at the close of futures trading June was down 9.1 cents to $3.920 and July had fallen 9.0 cents to $3.974. June crude oil slumped 54 cents to $95.62/bbl.
Spots cash prices played catch-up with the screen in Friday’s trading. The average overall loss was 34 cents, and all actively traded points endured declines in the 30-cent area. Traders see the highs for the year in place and see mounting fundamental pressure on prices in the spring and summer. At the close of futures trading, June had risen 1.6 cents to $4.041 and July also had gained 1.6 cents to $4.093. June crude oil, aided by a supportive employment report, gained $1.62 to $95.61/bbl.
Natural gas cash prices jumped an average 15 cents Monday for Tuesday delivery as a strong screen provided a firm platform for buyers, and utilities commenced with early summer buying. The advance was widespread and nearly every point posted double-digit gains. A handful of locations were up by 20 cents or more.
The cash market Friday played catch-up to the 18-cent screen advances seen Thursday and added 16 cents on average for weekend and Monday gas. All points posted gains. Moderate Friday temperatures in the East and Northeast were forecast to give way to cooler readings and New England and East points led the charge higher. May was able to hold on to Thursday’s meteoric advance and added 0.7 cent to $4.408 and June gained 0.5 cent to $4.437. May crude oil gained 28 cents to $88.01/bbl.
Natural gas cash prices added a little more than a nickel on average Monday with most points following the stronger screen, but California quotes rose as a mini cold snap enveloped the area along with some temporary outages.
Cash natural gas fell 11 cents overall on average Wednesday as the screen continued weak and there was no hint that winter weather would be enough to make a significant dent in storage. Northeast points were particularly hard hit but the Midcontinent and East weakened as well. At the close of trading January futures had fallen3.0 cents to $3.382 and February had dropped 2.9 cents to $3.412. January crude oil added 98 cents to $86.77/bbl.
Physical natural gas prices on average lost a whopping 36 cents Friday as the normal reluctance of buyers to commit to weekend gas was compounded by a weak screen, near-record gas in inventories, forecast warmth for the upcoming week in major energy markets and reports of ever-higher domestic production.