Buffeted by prior-day futures weakness, the lack of any tropical threat to offshore production and generally moderate temperatures for early July in many areas, cash prices fell by double-digit amounts at all points Friday. The usual weekend layoff of industrial load also played a bearish role.
Weakness
Articles from Weakness
Large Storage Build Helps Sink Cash Points
Aided by moderate screen weakness the prior day, cash point averages on Thursday for Friday delivery came off a couple of pennies at a majority of locations with one point apiece in the Northeast, Texas, Rockies and the West shedding a dime while Dawn in the Midwest dropped 20 cents.
May 7, 2010
Price Increases Seen as Difficult; May Clings to $4 Support
May natural gas futures retreated Monday as traders looked to near-term weather forecasts and related weakness for price drivers. At the close the May contract had given up 6.2 cents to $4.008 and June retreated 5.8 cents to $4.111. May crude oil was also weak falling 58 cents to $84.34/bbl.
April 13, 2010
Price Increases Seen as Difficult; May Clings to $4 Support
May natural gas futures retreated Monday as traders looked to near-term weather forecasts and related weakness for price drivers. At the close the May contract had given up 6.2 cents to $4.008 and June retreated 5.8 cents to $4.111. May crude oil was also weak falling 58 cents to $84.34/bbl.
April 13, 2010
Energy Stocks Could Get Uglier, Say Analysts
Recent stock market weakness and a bearish 2010 U.S. natural gas outlook appear to be trumping improved energy fundamentals, and energy stocks “could get much uglier if the market malaise continues,” Raymond James & Co. Inc. analysts said last week.
February 15, 2010
Energy Stocks Could Get Uglier, Say Analysts
Recent stock market weakness and a bearish 2010 U.S. natural gas outlook appear to be trumping improved energy fundamentals, and energy stocks “could get much uglier if the market malaise continues,” Raymond James & Co. Inc. analysts said Monday.
February 9, 2010
Energy Stocks Could Get Uglier, Say Analysts
Recent stock market weakness and a bearish 2010 U.S. natural gas outlook appear to be trumping improved energy fundamentals, and energy stocks “could get much uglier if the market malaise continues,” Raymond James & Co. Inc. analysts said Monday.
February 9, 2010
Futures Add a Dime Despite an Impending Warm-Up
Despite the nearly nationwide warm-up expected for the Jan. 18-22 week, the February natural gas futures contract departed from Thursday’s weakness to probe the upside Friday. The prompt-month contract traded into the low $5.70s before closing the regular session at $5.691, up 10.3 cents from Thursday’s finish but 5.8 cents lower than the previous week’s close.
January 19, 2010
Cold Weather Unable to Deter Cash Market Softness
The cash market finally bowed to futures weakness by falling at nearly all points Thursday despite some increases in heating load due Friday. Even with low temperatures predicted to reach sub-freezing levels at some locations in the northern sections of the South, it appeared that many buyers preferred to start tapping their storage accounts rather than procure more expensive spot gas.
December 4, 2009
Prices Dive at All Points Amid Further Mild Temps
The tremendous fundamental weakness of cash prices manifested itself again Friday with large plunges across the board. The previous day’s minuscule rally of 3.6 cents by December futures had no impact whatsoever in averting big losses throughout the physical market as the continuing mildness of mid-November weather and the rapid recovery from this year’s only substantive tropical storm-related disruption of offshore production weighed on traders’ minds.
November 16, 2009
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