A relatively quiet 2013 Atlantic hurricane season and no sign of tropical activity on the horizon has prompted Weather Services International (WSI) to make a significant reduction to its tropical forecast. WSI forecasters said they now expect 15 named storms to form in the Atlantic Basin, including five hurricanes, one of them major (Category 3 or higher).
Storms
Articles from Storms
Production Records Broken Again in North Dakota
Three storms in March failed to deter oil and natural gas operations in North Dakota, which set new all-time highs for the month, according to the latest statistics from the state Department of Mineral Resources (DMR).
Obama Vows to Speed Up New Oil, Gas Permitting
Acknowledging that the boom in natural gas has led to cleaner-burning power and greater energy independence in the United States, President Obama Tuesday in his first State of the Union Address of his second term vowed to cut red tape to speed up the permitting process for new oil and gas permits on public lands.
Only One Point Avoids Significant Softening
Cash prices appeared to disregard fresh winter storms bringing heavy snow to the Midwest through the Northeast and already hard-hit Mid-Atlantic, and lows around freezing or less spreading into much of the South (with more of the same due Wednesday in each instance), in falling at virtually all points Tuesday. To at least one source, the previous day’s 11.4-cent decline by March futures apparently had more influence on the cash market than weather forecasts.
Only One Point Avoids Significant Softening
Cash prices appeared to disregard fresh winter storms bringing heavy snow to the Midwest through the Northeast and already hard-hit Mid-Atlantic, and lows around freezing or less spreading into much of the South (with more of the same due Wednesday in each instance), in falling at virtually all points Tuesday. To at least one source, the previous day’s 11.4-cent decline by March futures apparently had more influence on the cash market than weather forecasts.
Natural Gas Futures Hit $6 on Cold-Induced Rebound
With another dose of winter storms and chilly temperatures for much of the country set for later in the week, January natural gas futures — which expire on Tuesday — rebounded on Monday to put a six in front of a prompt-month contract’s price for the first time in almost a year. The contract notched a $6 high in afternoon trading before closing out the regular session at $5.990, up 34.7 cents from last Thursday’s close.
WSI Forecast: Cool Eastern Summer; Warmer in the West
Cooler-than-normal temperatures are likely to dominate most of the eastern U.S. over the next three months, while above-normal temperatures are expected across the West, according to forecaster WSI Corp. of Andover, MA.
Multi-Dollar Northeast Spikes Highlight Overall Rally
Northeast citygates soaring by multi-dollar amounts were way out in front of price rebounds at nearly all points Friday. Winter storms were already under way in the Northeast and Midwest (to be followed by new ones during the weekend), a fresh storm was due Saturday in the already frigid Pacific Northwest, and the South could expect one more day of moderate conditions before a cold front brought a return of wintry weather Sunday.
Most Points Fall Despite Shut-Ins; Rockies Sub-$1
Even with slightly more than 7 Bcf/d of shut-in supplies in the Gulf of Mexico (GOM) Tuesday and three named tropical storms in the Atlantic, the spot gas market felt enough relief from the impact of Hurricane Gustav apparently being less than what had been feared to allow prices to fall by mostly sizeable amounts at nearly all points.
Cash Points Sink Ahead of Weekend
Enduring an unpredictable week of violent storms, heat waves and the rollercoaster-like antics of the natural gas futures market, cash points on Friday moved in lockstep lower, with most points shedding just a few pennies up to 15 cents.