Physical natural gas for Wednesday delivery had the trajectory of a safe falling from a 10-story building in Tuesday’s trading.
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Traders Looking Beyond Weather, Storage; December Called 3 Cents Higher
December natural gas is set to open 3 cents higher Monday morning at $3.14 as traders look beyond near-term weather outlooks calling for continued mild conditions in major energy markets. Overnight oil markets fell.
Solid Mid-Atlantic, Marcellus Gains Offset Broader Weakness; NatGas Futures Back Towards $3
Physical trading of natural gas Monday for Tuesday delivery was something of a bumpy affair, with a number of market points showing losses of about a nickel, but a few double-digit gainers in the Marcellus and Mid-Atlantic pulled the day’s average well into positive territory.
Weekly Spot NatGas Follows Prior Week Futures Lower, Again
Once again the prior week’s change in natural gas futures correctly identified the week’s change in weekly spot prices. For the week ended Oct. 21 November futures plunged 29.2 cents, and for the week ending Oct. 28 the NGI Weekly Spot Gas Average fell 23 cents to $2.48.
Cooler, Seasonal Conditions Yet to Arrive; December Called 4 Cents Lower
December natural gas is expected to open 4 cents lower Friday morning at $3.03 as traders factor in warm, breezy conditions over the weekend and a GWHDD count in the 11-15 day period well below normal. Overnight oil markets retreated.
GE Says Talks Ongoing For ‘Potential Partnerships’ With Baker Hughes
Baker Hughes Inc., still smarting after its mega-merger with Halliburton Co. was scuttled earlier this year, is in talks with General Electric (GE) regarding joint ventures, officials confirmed Friday.
NatGas Forwards, November Expiration More Trick Than Treat For Price Bulls
Just days before Halloween, November natural gas forwards prices in playing the part of Ichabod Crane fell off their high horse — tumbling an average of 18.5 cents between Oct. 21 and 27 — as the humdrum of shoulder season gripped the market and gas storage inventories closed in on last year’s record-breaking levels, according to NGI’s Forward Look.
ExxonMobil Warns of Reserves Revisions; Chevron Records First 2015 Profit
ExxonMobil Corp. reported sharply lower profits for the third quarter as the prolonged decline in oil and natural gas prices exacted its toll on No. 1 U.S. producer. Chevron Corp., the No. 2 U.S. operator, also was hit by the slump in pricing, but it managed to score its first quarterly profit of the year following massive writedowns.
Lack of Frights Allow NatGas Cash Declines; Traders Await ‘Significant’ Weather-Driven Price Advance
Natural gas for weekend and Halloween Monday delivery were short on thrills and chills on Friday as near-term temperature outlooks continued at well above seasonal levels, and power market pricing offered little incentive to make incremental purchases for power generation.
Storage Expected to Keep Building, Yet Expiring November Contract Seen A Penny Higher
The expiring November natural gas futures contract is expected to open a penny higher Thursday morning at $2.74 as traders adjust their estimates of ending inventories to account for continued storage builds. Overnight oil markets rose.