Physical natural gas prices for weekend and Monday delivery on average vaulted another 62 cents in Friday’s trading. Gains were made at all but a couple of Marcellus points and were deep into double digits.
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Deutsche Bank Exits Energy Trading Business
Nearly a decade after entering the U.S. natural gas trading market, Deutsche Bank said Thursday it is significantly scaling back its commodities business and will exit the dedicated trading desks for energy, agriculture, base metals and dry bulk.
Futures Rattle Higher Following Hefty Storage Pull
Physical natural gas prices for delivery Friday continued their rocket-like trajectory in Thursday’s trading, adding a stout 18 cents on average.
Natural Gas Well Freeze-Offs Reported in Rockies, San Juan
Natural gas well freeze-offs in the Rocky Mountains and San Juan Basin on Thursday were estimated at about 0.5 Bcf/d, and pipeline operators continued to issue critical notices as Winter Storm Cleon delivered a deadly punch of snow and ice that eventually could stretch more than 1,000 miles from the Plains into Central Texas and east to the Ohio River Valley.
Winter Storm Puts Pipes on Alert; Forecasters Say Coldest Nov.-Dec. in 10 Years-Plus
Just one week after a Thanksgiving winter blast upended some oil and natural gas production operations in Texas, winter storm Cleon made its debut in the Upper Plains on Tuesday and has begun to sweep through the Midcontinent, dropping temperatures in some areas as low as 25 degrees below zero.
Arctic Blast Pushes Cash Points Higher; Futures Ease Ahead Of Storage Report
Physical natural gas for delivery Thursday gained 12 cents on average Wednesday as traders factored in massive cold front working its way from the Rocky Mountains to the Midwest and points south. At the close, January futures had eased 1.6 cents to $3.960 and February also had shed 1.6 cents to $3.958. January crude oil gained $1.16 to $97.20/bbl.
Western, Midwest Gains Outdistance Weak East; Futures Ease A Penny
Natural gas scheduled for delivery Wednesday rose 2 cents on average in Tuesday’s trading, but the nominal rise masked greater market strength. If volatile points in the Northeast showing multi-dollar declines are subtracted from the figures, the overall gain comes in at 8 cents.
Canada to See Little Change in Winter Fuel Prices, Says NEB
Only slight price changes — and no winter market spikes — are in the forecast for the 2013-14 heating season by Canada’s National Energy Board (NEB).
Texas Freeze Slams Pioneer; Another Wintry Blast On Its Way
A sustained blast of icy weather across Texas last week put a halt to exploration and production (E&P) activity in the Permian Basin, Barnett and Eagle Ford shales, with Pioneer Natural Resources Co. indicating it could be weeks before the full impact is determined.
Cold, Demand to Remind Market of Storage Value, Developer Says
Gas price volatility has declined and forward spreads have contracted. With plenty of shale gas around, “who needs gas storage capacity?” is a question on the lips of some. But with the heart of winter fast approaching, attitudes could change, a storage developer told NGI.