Streak

Continuing its little streak of recent weakness, July natural gas futures followed crude values lower on Monday, piercing the psychological $4 price level before closing at $3.933, down 9.9 cents from Friday’s finish.

Front-month natural gas futures ended their four-day streak of higher finishes on Wednesday as expectations for a smallish storage draw in Thursday’s report trumped positive economic news. April natural gas futures dropped 1.8 cents on the day to close at $4.329.

After scoring a streak of revenue gains on exports to the United States that account for a majority of their natural gas output, Canadian producers are drilling at a brisk pace and building a big inventory of fresh targets for further field development.

After scoring a streak of revenue gains on exports to the United States that account for a majority of their natural gas output, Canadian producers are drilling at a brisk pace and building a big inventory of fresh targets for further field development.

British Columbia (BC) is posting its eighth annual increase in natural gas reserves while continuing a streak of strong monthly drilling rights sales, amid rising expectations that provincial output and exports will keep on growing at an accelerating rate.

British Columbia (BC) is posting its eighth annual increase in natural gas reserves while continuing a streak of strong monthly drilling rights sales, amid rising expectations that provincial output and exports will keep on growing at an accelerating rate.

The breaking of a five-day losing streak by August futures Monday did essentially nothing to boost the cash market Tuesday. Four flat to about a dime higher points were the sole exceptions to overall softness. Quotes fell at most points despite forecasts of peak temperatures in the upper 80s or higher in much of the U.S. Wednesday.

A slightly supportive 90 Bcf natural gas injection report combined with a significant rally in crude futures brought the week’s natural gas futures decline streak to an end at three days on Thursday as the August contract gained 29.4 cents to close at $12.300.

Continuing its streak of record results, Atlanta-based IntercontinentalExchange Inc. (ICE), operator of global exchanges and over-the-counter (OTC) markets, reported that its consolidated net income increased 68% to a record $240.6 million in 2007 from $143.3 million in 2006. In addition, the company reported consolidated net income for the fourth quarter of 2007 of $64.7 million, a 32% increase compared to $49 million for the fourth quarter of 2006.