Markets

Opponents of California’s largest natural gas storage facility Aliso Canyon, including nearby residents and environmental groups, are repeating their calls for the state to close it down.

Next-day physical natural gas posted robust gains in Monday trading as brutally uncomfortable weather was expected Tuesday and beyond in Southern California, the Midwest and on the East Coast.

U.S. exporters are edging closer to overtaking Canadians in cross-border traffic in natural gas, according to the latest trade scorecard of the United States Department of Energy.

Alaska’s top oil/natural gas producers told state lawmakers Thursday afternoon that the proposal on the table to pipe, liquefy and export North Slope natural gas is uneconomic and they won’t move forward as partners. However, they said they would sell their natural gas to a state-developed project if it comes to fruition, which is more in doubt than ever.

Phillips 66 Partners LP (PSXP) said it has reached an agreement to acquire natural gas liquids (NGL) assets in southeast Louisiana — including approximately 500 miles of pipelines, a storage cavern and other facilities — from Chevron Corp.

Physical natural gas for weekend and Monday delivery worked lower in Friday’s trading as buyers saw little reason to commit to three-day deals.

For the week ended Aug. 26 there was only nominal movement in weekly gas prices, but the roles were reversed from the previous week. Solid gains of a dime or more were posted at interior basins and Midwest market points, but declines in the Northeast and California pulled the averages down.

September natural gas is set to open 5 cents lower Friday morning at $2.80 before Monday’s contract expiration as traders see weather conditions fully priced into the market and note a technically overbought condition. Overnight oil markets fell.

September natural gas is expected to open a penny higher Thursday morning at $2.81 as traders mull forecasts of Thursday’s government storage report coming in as low as the single digits. Overnight oil markets fell.