After severe setbacks in the 2008-2009 financial and industrial contraction, North American natural gas trade has settled into a new pattern of stable-to-growing volumes with northbound flows from the United States into Canada on the rise, the U.S. Department of Energy said.
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Data Show U.S.-Canada Gas Trade Recovering from Economic Meltdown
After severe setbacks in the 2008-2009 financial and industrial contraction, North American natural gas trade has settled into a new pattern of stable-to-growing volumes with northbound flows from the United States into Canada on the rise, the U.S. Department of Energy said.
Market Pummeled By Bin-Busting Storage Report; November Retreats
November natural gas yielded to a larger than anticipated storage report Thursday and settled lower. The magnitude of the storage build caught many by surprise and raises the question of whether production estimates may be understated. At the close November had fallen 5.2 cents to $3.747 and December had retreated 2.6 cents to $4.015. November crude oil added 93 cents to $82.14/bbl.
Traders Sensing Market Shift Send Futures Higher
October natural gas tacked on another healthy gain Wednesday and settled above $4 as traders noted considerable angst among holders of short positions feeling that they did not want to get caught on the wrong side of any market move higher. At the close October had risen 5.9 cents to $4.039 and November had gained 6.3 cents to $4.117. October crude oil dropped for the day by $1.30 to $88.91/bbl.
Magnum Hunter, Seller Countersue Again in North Dakota
Magnum Hunter Resources Corp. and a private seller of assets in the Williston Basin have leveled a second round of lawsuits against each other in federal court in North Dakota, the latest in a series of legal battles involving about 15,500 gross oil and gas acres.
‘Take Some Money Off the Table,’ Bankers Say; August Expires Flat
The expiring August contract settled unchanged, but more distant contracts eased although analysts viewing a deteriorating price regime remain optimistic and suggest that if prices should somehow surge pass $5 during the hurricane season or later in the fall, it would be a good time to initiate producer hedging. At the close August remained unchanged at $4.370 and September had fallen 1.3 cents to $4.318. September crude oil faltered $2.19 to $97.40/bbl.
Traders Split on Price Outlook; April Falls After EIA Report
April natural gas futures settled a dime lower Thursday as the market was forced to price in a withdrawal figure significantly lower than expectations. The Energy Information Administration (EIA) reported that for the week ended March 4, 71 Bcf had been withdrawn from inventories, way less than what the market was expecting. At the end of the day April futures fell 10.0 cents to $3.830 and May shed 9.4 cents to $3.892. April crude oil dropped $1.68 to $102.70/bbl.
Futures Finish Week Just North of $4
Natural gas futures gave back a few pennies on Friday but still settled north of $4 for the second straight day as the frenzy of tropical weather activity, which to date has spared U.S. energy interests, could be lining up for a Gulf of Mexico strike by the end of the month.
WSI: Fewer Storms, Maybe, but No Let-Up From Heat
The months of August through October are likely to bring little let-up from the warmer-than-normal temperatures that have settled across most of the United States, WSI forecasters said last week.
No Let-Up From Heat Through October, Says WSI
The months of August through October are likely to bring little let-up from the warmer-than-normal temperatures that have settled across most of the United States, WSI forecasters said Monday.