Canadian natural gas producers are going to keep their biggest industrial customer as thermal oilsands plants weather the fourth global oil price storm since commercial production of the northern Alberta resource began 47 years ago.
Markets
Articles from Markets
Cash, Futures Part Ways; January Retreats 6 Cents
Physical gas for Friday delivery was mostly higher in Thursday’s trading, although some moderate weakness was noted in the Midwest and California. The strongest gains were seen at New England points, where prices surged over $1 amid forecasts of steady power loads and higher peak prices as well as a trend to cooler temperatures. The overall market gain was 6 cents.
Forecasters Tinker With Holiday Cold; January Seen 6 Cents Higher
January natural gas is expected to open 6 cents higher Thursday morning at $3.76 as traders fine-tune their expectations for the market impact of the expected Christmas cold and await government storage figures that are anticipated to erase the year-on-year storage deficit. Overnight oil markets gained.
Natural Gas Futures Push Higher Following Lower-Than-Normal EIA Storage Draw
Natural gas futures moved higher Thursday morning following the release of government natural gas storage figures, which revealed that 64 Bcf was withdrawn from underground storage for the week ending Dec. 12. The number was slightly higher than industry expectations, but well below historical comparisons.
Dual-Fuel Costs Power Generators Less Than Firm NatGas Transportation, Study Finds
Dual-fuel capability “has a much lower cost for a new combined-cycle plant” than firm natural gas transportation for power generators in the Eastern Connection, and for simple-cycle plants the difference is even more pronounced, according to a study summarized in the last of eight Gas-Electric Coordination Quarterly Update reports issued by FERC Thursday.
Cold Looming; January Seen a Nickel Higher
January natural gas is set to open 5 cents higher Wednesday morning at $3.67 as traders begin to factor in the arrival of meaningful cold after the Christmas holiday. Overnight oil markets plunged again.
Northeast Leads Widespread Natural Gas Market Gains; Futures Recover Some Losses
Natural gas for Thursday delivery rose at nearly every market point in Wednesday’s exchanges as pronounced trends toward cooler temperatures, along with rising power loads, kept a firm bid under the market.
Technical Outlook Weakens, Yet January Called Unchanged
January natural gas is expected to open unchanged Tuesday morning at $3.72 as traders balance weather forecasts and a weakening technical outlook amid indications of a cold incursion next week. Overnight oil markets continued to implode.
Futures Outdo Weak Physical Gas in March Lower; January Drops a Dime
Physical gas for Wednesday delivery endured a broad setback in Tuesday’s trading, with only a few scattered points in the West and Texas making it into the plus column.
Cold Seen Coming; January Called 6 Cents Higher
January natural gas is expected to open 6 cents higher Monday morning at $3.85 as last week’s weather predictions continue to develop as planned. Overnight oil markets rose.