Spiraling

Futures Have Exuberant Rise After In-Line Storage Injection

After spiraling lower in Thursday morning trade, June natural gas futures prices reversed course following the Energy Information Administration’s (EIA) 85 Bcf natural gas storage injection report for the week ended May 16, springing near-month futures to a new high for the up move that began back in August 2007. While the injection was well within expectations, the prompt-month contract spiked higher before backing off to close at $11.697, still good for a 5.7-cent gain over Wednesday’s regular session finish.

May 23, 2008

Futures Test Support, Record Fourth Consecutive Drop

Spiraling lower for the fourth consecutive regular session, November natural gas futures on Tuesday put pressure on longstanding support at $6.750, which proved bendable but not breakable. The prompt-month contract reached a low of $6.640 before finishing out the day at $6.761, down 13 cents from Monday’s close.

October 24, 2007

Futures Continue Lower on Bearish Weather and Technicals

In a market that was already weakened by technical bearishness, natural gas futures were sent spiraling lower Friday on reports that the El Nino weather pattern will bring above-normal temperatures to the central United States this winter.

November 4, 2002

Bearish Weather Forecast Sends Futures Spiraling

Pressured by the release of another in a string of bearish weather forecasts and in sympathy with losses seen in the nearby crude oil pit, natural gas futures plumbed new three-week lows Monday, as traders continued to liquidate longs acquired during the month of October. The December contract never recovered from its 7-cent gap-lower open and finished with a 19.2-cent loss at $2.733.

November 13, 2001

Ziff Energy: Operating Costs Rise in Western Canada

As if the spiraling decline in natural gas spot prices was not enough to give producers pause, natural gas and oil field operating costs are now on the rise, according to Ziff Energy Group’s 2001 study of 200 oil and gas fields in Western Canada.

October 15, 2001

Ziff Energy: Operating Costs Rise in Western Canada

As if the spiraling decline in natural gas spot prices was not enough to give producers pause, natural gas and oil field operating costs are now on the rise, according to Ziff Energy Group’s 2001 study of 200 oil and gas fields in Western Canada.

October 9, 2001

Devon, Mitchell Amend Merger as Devon’s Stock Price Declines

Due to spiraling commodity prices, which have led to a drop in Devon Energy Corp.’s stock price, Devon and Mitchell Energy & Development Corp. said Friday that the board of directors of each company has amended their merger agreement to address certain risks posed by Devon’s falling stock price. The amendment would provide for an alternate structure to mitigate the risks in the event the stock price would prevent the issuance of certain tax opinions, which are a condition to the merger transaction.

October 8, 2001

Unchanged Fundamentals Send Futures Back Below $4.00

After climbing to its highest level since May 24, natural gas futures were sent spiraling lower Tuesday as traders weighed the impact of continued mild weather and an increasingly bearish storage situation. The prompt July contract took the selling squarely on the chin, tumbling 17.7 cents to close at $3.892. The remaining summer strip did not fair much better, closing 17.4 cents lower at $3.984.

June 6, 2001

Enron’s Lay: Rules for Power Market ‘Aren’t Right’

Although the focus of last week’s “summit” in Ohio was spiraling winter gas prices, Enron Chairman and CEO Kenneth L. Lay used the opportunity to take a few shots at deregulation in the electric industry in general, and the California market specifically.

September 25, 2000

Hebert, Transco Lobby for Northeast Pipe Projects

In the wake of spiraling heating oil prices, Commissioner CurtHebert Jr. last week challenged his FERC colleagues to follow inthe Clinton administration’s footsteps to help reduce theNortheast’s dependence on the higher-priced fuel. ATranscontinental Gas Pipe Line official made a similar pitch toremove regulatory roadblocks to new natural gas pipelineconstruction last week at a Senate hearing.

February 28, 2000