Markets

Energy stocks were rising with oil prices after countries closely aligned with the Saudi Arabian-led Organization of the Petroleum Exporting Countries (OPEC), including Russia, signaled on Saturday they would reduce their production for at least six months beginning Jan. 1. However, the U.S. response may already be underway, as rigs rise in the onshore.

Both physical natural gas for Tuesday delivery and futures took it on the chin in Monday’s trading as weekend updates to weather forecasts called for slight moderation in the degree of cold expected over Midwest and eastern energy markets, while the noon updates did little to change that interpretation.

January natural gas is expected to open 17 cents lower Monday morning at $3.58 as traders are quick to exit long positions following weekend weather data showing expected cold well above normal but slightly less than Friday. Overnight oil markets soared.

Top global liquefied natural gas (LNG) producer Qatar Petroleum (QP) plans to integrate its RasGas Co. Ltd. and Qatargas operating companies under a single entity, named Qatargas, it said Sunday.

January natural gas is set to open 6 cents higher Friday morning at $3.75 as weather forecasts continue to provide a strong underpinning to the market. Overnight oil markets rose.

For the third week in a row, natural gas forwards markets surged by double-digits as much of the U.S. was experiencing bitterly frigid temperatures. And talk of a Polar Vortex in the upcoming week had the market shivering in its snowboots, according to NGI’s Forward Look.

A Rice Energy Inc. subsidiary has filed an application with the Public Utilities Commission of Ohio to be certified as a competitive retail natural gas supplier.

Both weekend and Monday natural gas cash and futures capped off the week with gains of about a nickel, but if predictions of the coming weather/storage dynamic prove correct, gas markets could be on the cusp of still greater changes.

Oh what a week it was, but the half-dollar weekly natural gas cash gains shouldn’t have come as much of a surprise to those who noted that January futures bounded higher by a stout 40 cents during the previous week. With chilly winter temps now on hand for much of the country, further strengthening is likely in the forecast.