A proposed severance tax on natural gas drilling in Pennsylvania may be dead this year, but the issue could return during the 2011 legislative session and it lives on in the campaigns of the candidates for governor. With Democratic Gov. Ed Rendell leaving office in January and the makeup of the state’s currently Democrat-dominated House and Republican-dominated Senate likely to change with the Nov. 2 election, Pennsylvania’s Marcellus policies could be looking at a facelift next year.
Session
Articles from Session
Futures Higher Despite Expectations of Another Robust Storage Add
After trading in a range between $3.507 and $3.613 during Wednesday’s regular trading session, November natural gas futures ended up adding 2.6 cents to Tuesday’s rally to close Wednesday at $3.539.
October 21, 2010
Futures Direction Debated as October Tests $4
The October natural gas futures contract strung together its third consecutive higher regular session close on Tuesday after testing resistance at the $4 price level. The prompt month reached a high of $4.020 before closing the day at $3.966, up 2.8 cents from Monday’s finish.
September 15, 2010
Futures Rally a Dime, But Questions of a Bottom Appear Premature
Following the September contract’s 11.3% decline in values last week, the October contract, in its first regular session action as the front month, rebounded on Monday to close at $3.812, up 10.7 cents or 3% from Friday’s close.
August 31, 2010
Futures Cut Losses Ahead of Fresh Storage Data
September natural gas futures values plumbed lower prices on Wednesday before coming rebounding to close the regular session at $4.326, up 2.9 cents from Tuesday’s finish. The price action occurred as Tropical Depression 5 became disorganized and dissipated in the northern Gulf of Mexico as it headed northwest toward the southeastern Louisiana coast.
August 12, 2010
Futures Inch Lower Despite Heat, Gulf Storm System
September natural gas futures traded in a 10-cent range on Tuesday between $4.276 and $4.370 before closing the regular session at $4.297, down 1.2 cents from Monday’s finish.
August 11, 2010
Futures Reach Two-Month Low as Supply Continues to Trump Demand
Natural gas futures market weakness continued to reign on Monday as the prompt-month contract recorded a two-month low before closing out the regular session at $4.309, down 15.8 cents from Friday’s finish.
August 10, 2010
Futures Add 8 Cents, But Market Still Seen as Range-Bound
After trading in another fairly tight trading range of 15 cents on Tuesday, the August natural gas futures contract ended the regular session up 8 cents at $4.590 as traders monitored warmer-than-normal temperatures and some storm activity in the tropics.
July 21, 2010
Quiet Summer Session Leaves Futures 1.4 Cents Lower
After trading in a narrow 10-cent range during Monday’s regular session, August natural gas futures closed the quiet day at $4.388, down 1.4 cents from last Friday’s finish. However, the serenity might not last as some market watchers see indications that the funds might be mobilizing to sell.
July 13, 2010
Despite Heat, Support Failure Puts Bulls’ Case on Ice
While not much was decided on Friday as the August natural gas futures contract trolled lower before closing the regular session nearly unchanged, the damage was done earlier in the week when the prompt-month contract failed to break above $4.900 and instead broke support at $4.500. After reaching a low of $4.339 on Friday, the August contract closed the day at $4.402, up three-tenths of a penny from Thursday’s close but 28.5 cents south of the previous week’s finish.
July 12, 2010
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
