Markets

Financial and physical natural gas moved in opposite directions in Wednesday’s trading for Thursday deliveries. Few points made it to the plus side of the trading ledger, and most locations were off by a nickel or more.

October natural gas is set to open 2 cents higher Wednesday morning at $2.85 as traders factor in production losses resulting from weather-driven Gulf of Mexico shut-ins. Overnight oil markets fell.

The global oil supply is tightening, and markets should move closer to balance by the end of this year, but it’s too early for “any improvement in price” to affect exploration investments because operator confidence and balance sheets still need to be repaired, Schlumberger Ltd.’s operations chief said Tuesday.

October natural gas is set to open 3 cents higher Tuesday morning at $2.93 although observers note a less than supportive trading landscape going forward. Overnight oil markets were mixed.

Although natural gas prices were not discussed when officials met last Friday to review California’s draft winter energy reliability plans, higher prices may be an issue this winter throughout the West as three factors converge, according to Raymond James. The firm sees $4-4.50/MMBtu prices coming out of the Rockies.

Although natural gas prices were not discussed when officials met last Friday to review California’s draft winter energy reliability plans, higher prices may be an issue this winter throughout the West as three factors converge, according to Raymond James. The firm sees $4-4.50/MMBtu prices coming out of the Rockies.

The Aug. 17 Massachusetts Supreme Judicial Court (SJC) ruling that invalidated contracts on the Access Northeast pipeline expansion has set off a new round of debate as the project’s backers vie for FERC approval of a crucial tariff revision.

Oil and natural gas companies in the Gulf of Mexico (GOM) appeared to have adopted a wait and see attitude Tuesday as Tropical Depression Nine (TD9) churned to the west of Cuba, with a move toward Florida — and not into the central GOM — expected by Wednesday.

Natural gas for Wednesday delivery moved little in Tuesday’s trading as the majority of market points scored modest gains of a few pennies, but a few eastern points scored double digit losses.