Sentiment

Stoked by the San Bruno, CA, gas pipeline explosion in September and the anti-gas drilling film “Gasland” — as well as general not-in-my-backyard sentiment — Jersey City, NJ, officials are set to consider zoning changes intended to block a natural gas pipeline that Spectra Energy Corp. wants to build through their town.

Stoked by the San Bruno, CA, gas pipeline explosion in September and the anti-gas drilling film “Gasland” — as well as general not-in-my-backyard sentiment — Jersey City, NJ, officials are set to consider zoning changes intended to block a natural gas pipeline that Spectra Energy Corp. wants to build through their town.

Natural gas and oil industry fundamentals are improving “in stride” with the global economy, and with rising economic expectations, energy market sentiment remains “relatively positive,” industry consultant Ernst & Young LLP reported last week.

Natural gas and oil industry fundamentals are improving “in stride” with the global economy, and with rising economic expectations, energy market sentiment remains “relatively positive,” industry consultant Ernst & Young LLP reported Wednesday.

Natural gas and oil industry fundamentals are improving “in stride” with the global economy, and with rising economic expectations, energy market sentiment remains “relatively positive,” industry consultant Ernst & Young LLP reported Wednesday.

With congressmen on recess testing public sentiment in their home territories, opponents of the House-passed climate change legislation are gearing up to stage public rallies at key points across the country to stir up opposition before companion legislation shows up in September in the Senate. The first rally against the climate change measure and proposed producer tax hikes is scheduled to take place in Houston Tuesday.

August natural gas futures retreated Monday as traders cited a bevy of sell offers above the market and an underlying sentiment that near-term trading opportunities lay on the short side of the market. The August contract fell 9.1 cents to $3.604 and September dropped 9.3 cents to $3.768. September crude oil rose 33 cents to $68.38/bbl.

Traders really summed up the indecisiveness of market sentiment on Tuesday as they pushed the May natural gas futures contract to a high of $7.690 and a low of $7.490 before settling almost smack dab in the middle at $7.598, up 3.6 cents on the day. The day’s action also showed just how fickle the crude/natural gas futures relationship can be as crude plummeted, giving back almost all of its gains from Monday.

Cash prices were up 15-45 cents across the board again on Tuesday in response to the return of bullish sentiment on Nymex where gas futures soared 54.4 cents to $13.519. The first signs of winter in the West along with a somewhat bullish winter forecast by AccuWeather helped play on market fears of Gulf production shut-ins continuing deep into the winter.