The expiring September natural gas contract is expected to open 4 cents higher Wednesday morning at $3.95 as traders absorb forecasts of ongoing warm temperatures into their plans. Overnight oil markets rose.
Articles from September
September natural gas is set to open 3 cents lower Monday morning at $3.75 as traders survey a weather landscape that is expected to feature the winding down of summer and minimal incursions of market-altering heat. Overnight oil markets tumbled.
September natural gas is set to open 3 cents higher Monday morning at $3.83 as traders mull whether the market is putting in a traditional seasonal low or about to resume its trend lower. Overnight oil markets fell.
September natural gas is expected to open 3 cents higher Thursday morning at $3.82 as traders prepare for the release of often market-moving storage data. Overnight oil markets fell.
The expiring August natural gas contract is set to open a penny higher Tuesday morning at $3.76 as traders square positions ahead of contract expiration yet still see plump storage builds containing any price rallies. Overnight oil markets were mixed.
Natural gas deliveries for Thursday added 4 cents on average nationally in Wednesday’s trading, with ongoing warm temperatures in the Midwest keeping buyers busy and next-day deliveries up by a nickel or more.
Physical natural gas prices overall on average added 10 cents Monday as strength at eastern market points along with surging prices at Marcellus locations paced a broad advance. Midcontinent locations were also firm, but all points made gains. At the close of futures trading September had added 2.8 cents to $3.513 and October was higher by 3.2 cents to $3.553. October crude oil fell 50 cents to $105.92/bbl.
Houston-based Memorial Production Partners LP (MEMP) has agreed to acquire oil and gas properties in the Permian Basin, East Texas and the Rockies from its sponsor, Memorial Resource Development LLC, and affiliates of Natural Gas Partners for $606 million. The deal is MEMP’s largest acquisition to date and gets the partnership’s foot in the door in the Permian and Rockies.
Concentrations of methane, ethane and propane were found in higher levels in drinking water for homes within a kilometer of shale gas wells in parts of the Marcellus Shale in northeast Pennsylvania, according to a study released Monday. It was the third such study by Duke University’s Robert Jackson, a professor of environmental sciences.
Connecting the wells only addresses part of the problem with flaring of natural gas in North Dakota’s Bakken and Three Forks formations; it’s no help if there’s a lack of takeaway and processing capacity.