The seemingly unrelenting growth in natural gas use in Asia-Pacific nations could have global implications for gas pricing that heretofore has varied greatly between the East and the West, two Singapore-based energy attorneys said during an energy conference Tuesday.
Articles from Unrelenting
Prompt-month natural gas futures plunged to the lowest point in 28 months and lowest winter-month point in 10 years Wednesday as unrelenting warmer-than-normal forecasts across important eastern and Midwest energy markets forced traders to anticipate continued growth in an already burdensome storage surplus. At the close of trading February settled down 16.7 cents at $2.774 and March had fallen 16.7 cents as well to $2.803. February crude oil shed $1.37 to $100.87/bbl.
Speaking with reporters Wednesday night in Houston, BP plc CEO Tony Hayward offered some candid comments about his company’s response to the unrelenting oil leak at the Macondo well in the deepwater Gulf of Mexico (GOM) (see Daily GPI, May 11).
Colorado’s natural gas drilling shows unrelenting growth, and “nothing could be more critical” than having an open and transparent dialogue with the industry, the executive director of the Colorado Department of Natural Resources (DNR) said last week.
Bowing to unrelenting upward pressure on wholesale natural gas prices, the Oregon Public Utility Commission Thursday approved sizable retail rate increases for the state’s three major private-sector natural gas utilities, ranging from 13.5% to 26.8%.
Unrelenting in their goal of creating a new statewide public power utility in Montana, five cities last week agreed to offer $2 billion, including assumption of $825 million in debt, to purchase the electricity transmission and distribution assets of South Dakota-based NorthWestern Corp, including facilities in the two other states in which it operates — Nebraska and South Dakota.
Despite overbought conditions and a market that many felt could go no higher, natural gas futures defied gravity yet again Monday, as bulls rebounded strongly from a lackluster morning sell-off. With that the September contract achieved a new three-and-a-half-month high, gaining 13 cents to close at $3.617. Estimated volume was light to moderate at 93,696.