The Marcellus Shale Coalition (MSC) on Thursday elected a new leadership team to helm the executive committee and announced the addition of almost three dozen associate member companies.
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New Week, New Direction? Natural Gas, Crude Drop Significantly
Following the extended run-up last week, petroleum futures dropped significantly Monday, which helped natural gas futures come off in tandem. May natural gas futures put in a low of $7.520 on the day before closing at $7.558, down 42.3 cents from last Friday’s close. The May contract expires Wednesday.
Futures Dip, then Rally Amid Crude Losses, AGA Data, Weather
In tandem with heavy losses in the nearby crude oil and related products markets, natural gas futures shifted lower Wednesday as traders weighed the impact that fuel switching could have on prices this winter. The latest storage report from the American Gas Association (a 7 Bcf injection) rocked prices first lower and then higher, before the December contract finished the session back in the middle of the its daily trading range, down 4.4% at $2.676. December crude oil futures finished with an 8.6% loss at $19.80, its lowest close on a spot month basis since July 1999.
Prices Plummet; San Juan Down by A Quarter
Just as Wednesday was an unusual day in having East and Westmarkets rising in tandem, the two regions joined again Friday inmoving in the same direction-only this time the direction was down,way down. Decreases of less than a dime were few, and San JuanBasin plumbed depths not seen in a long time by falling a quarterto the $1.50 area. The Permian Basin and Waha plunged by 20 centsor more.