Wave

Most cash points continued to rise Tuesday as the latest cold wave began to engulf much of the East. Northeast citygates realized triple-digit spikes due to what one forecaster described as blizzard-like conditions expected in the region Wednesday. However, warming trends had a good deal of the West and Midcontinent falling by 2-3 cents to as much as 15 cents.

When oil prices wave goodbye to the natural gas market and head for the moon, even the staunchest gas-focused producer can turn wistful thinking of the liquid hydrocarbon and what might have been.

When oil prices wave goodbye to the natural gas market and head for the moon, even the staunchest gas-focused producer can turn wistful thinking of the liquid hydrocarbon and what might have been.

With a modest Northeast heat wave due to retreat, moderate to cool temperatures prevailing in most other areas and no tropical storm threat to offshore production in sight, prices fell at a large majority of points Wednesday. Flat to a little more than a dime higher quotes, concentrated in the Rockies and Pacific Northwest, brought a return of mixed price movement to the cash market.

With the heat wave still in effect in a number of U.S. regions and conditions in the tropics becoming more friendly for hurricane development, natural gas futures traders on Friday extended Thursday’s rally. The September contract recorded a high of $6.950 before closing out the day at $6.820, up 23.4 cents from Thursday’s close and 73 cents higher than the previous Friday’s finish.

Differing weather fundamentals in various regions produced mixed price movement again Thursday, but due to a mini-heat wave developing in the Northeast, there were considerably more gains than on Wednesday when softness pervaded most of the market. However, sources agreed that declines will set in again at most if not all points in Friday’s trading for the holiday weekend.

The new large natural gas pipelines now under construction have grabbed a lot of the headlines in recent months, but in the next few years, there likely will be a “wave of smaller, significant expansions” of existing and greenfield pipes across the country, the head of the Interstate Natural Gas Association of America (INGAA) said last week.

The new large natural gas pipelines now under construction have grabbed a lot of the headlines in recent months, but in the next few years, there likely will be a “wave of smaller, significant expansions” of existing and greenfield pipes across the country, the head of the Interstate Natural Gas Association of America (INGAA) said Monday.

As the northern Plains, the Great Lakes and the Northeast continued to suffer through an arctic cold wave with temperatures as low as 42 below zero, the natural gas futures market on Monday recorded modest gains while watching the cash market soar to near record highs at some points (see related story). March natural gas futures finished Monday’s regular session 15.8 cents higher at $7.634 after putting in an overnight high at $8.030.