March natural gas futures and forwards markets slid nearly 20 cents on average between Jan. 27 and Feb. 2 as the market brushed off news that Punxsutawney Phil saw his shadow on Groundhog’s Day, theoretically indicating there would be six more weeks of winter, according to NGI’s Forward Look.
Slid
Articles from Slid
Cash Slides a Second Day on Screen Weakness
Continuing to take cues from the sagging natural gas futures complex, cash market values far and wide slid for a second straight day on Wednesday, shrugging off forecasts for a heat-wave return for much of the East.
Storage Report Discounted as Traders Focus on Weather; March Falls
March natural gas futures slid lower Thursday as traders focused on near-term warmth and paid little heed to a government inventory report showing the second largest withdrawal from gas inventories of the season. By the end of the session March was 5.3 cents lower at $3.868 and April fell 6.0 cents to $3.901. March crude oil rose $1.37 to $86.36/bbl.
February Up a Nickel Following 136 Bcf Storage Draw
February natural gas futures slid lower from an elevated price level Thursday morning following the news from the Energy Information Administration (EIA) that 136 Bcf was removed from underground storage for the week ending Dec. 24, which was 48 Bcf less than the previous week’s 184 Bcf draw. However, the prompt-month contract ended up closing at $4.338, up 5.1 cents from Wednesday and 20.5 cents higher than the previous week’s finish.
Recent Weakness Keeping Traders Wary; June Falls 1.8 Cents
Natural gas futures slid lower in uninspired trading Monday and traders have begun to question the markets ability to test the upper end of its trading range. June futures fell 1.8 cents to $4.017 and July shed 3.1 cents to $4.075. July crude oil added 17 cents but the remaining contract months posted losses.
API: Gas Drilling Down in First Quarter
Both oil and natural gas drilling activity slid in the first quarter from the same period a year ago, but the American Petroleum Institute (API) said Friday it expects to see an improvement in the second quarter.
API: Gas Drilling Down in First Quarter
Both oil and natural gas drilling activity slid in the first quarter from the same period a year ago, but the American Petroleum Institute (API) said Friday it expects to see an improvement in the second quarter.
API: Gas Drilling Down in First Quarter
Both oil and natural gas drilling activity slid in the first quarter from the same period a year ago, but the American Petroleum Institute (API) said Friday it expects to see an improvement in the second quarter.
October Futures See Weakness on Expiration
October natural gas futures went off the board on Monday with a bearish bang as values dropped under the weight of the recent advance. October slid 25.5 cents on the day to terminate at $3.730, while the November contract wasn’t nearly as weak in trimming 11.8 cents during the regular session to $4.830.
Not-So-Great Expectations for Producers in 4Q
ConocoPhillips on Wednesday was first in line among U.S.-based producers to unveil 4Q2006 earnings, underwhelming investors on the news that its profit slid 13% from a year ago. However, the Houston-based producer won’t be the last to report tempered profits during a three-month period of warmer-than-normal temperatures, soaring service costs and falling energy prices.