Natural gas prices have weakened in recent weeks, but they may weaken even more in the coming weeks because of two things: corrections to the “huge” inventory overhang and weakening oil prices, which will put pressure on gas prices in the short term, according to Lehman Brothers in its latest “Oil & Gas: Exploration & Production Update.”
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Screen and Less Cold Than Expected Weaken Cash
It was a mostly softer swing market Monday, but with very littleconsistency in price movement. New quotes ranged from down around20 cents at Northeast citygates, which tended to see last week’sbiggest increases, to 2-5 cents higher in California, where alow-inventory OFO by PG&E helped boost demand. Other points inbetween were flat to down more than a nickel, with most of thedrops being in the vicinity of a nickel.
October 26, 1999
Bidweek Mostly Softer; Aftermarket Looks Firmer
Prices continued to weaken at nearly all points Tuesday in boththe incremental and October bidweek markets. Offshore supplies wereslow in returning from hurricane-related outages, but tradersseemed to discount that factor and to depend on abundant gaselsewhere to take up the slack. They also observed that weather andstorage fundamentals remain weak.
September 30, 1998
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