Frustratingly low commodities prices continued to exert their force as 2015 wound down, with a majority of the companies participating in NGI’s 4Q2015 Top North American Gas Marketers Ranking reporting lower sales transaction numbers than they did in 4Q2014.
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California Energy Officials Revisit NatGas Outlook With Concerns About Storage
California energy officials are reviewing a draft long-term natural gas outlook released last November and reassessing their assumptions following the shutdown of the state’s largest gas storage facility due to a recently sealed well leak.
Sliding NatGas Cash Likely to Weaken Futures, Traders Say; April Adds 3 Cents
Physical natural gas prices for weekend and Monday delivery beat a hasty retreat in Friday’s trading as buyers saw little need to commit to three-day deals and weather forecasts for the coming week continued to moderate.
Weather Models In Greater Agreement; April Called 4 Cents Lower
April natural gas is set to open 4 cents lower Thursday morning at $1.64 as weather models are in greater agreement on forecast warm patterns and traders hone short-term trading algorithms in preparation for the release of government storage figures. Overnight oil markets fell.
REX Zone 3 Force Majeure Ending
Based on repair progress, Rockies Express Pipeline (REX) said it is lifting a Tuesday force majeure effective for the evening cycle of Thursday’s gas day (March 3). The event affected most receipt points in the pipeline’s Zone 3 (see Daily GPI,March 2a;March 2b).
‘Bullish’ NatGas Storage Figures Greeted With A Yawn
Natural gas futures moved little Thursday morning after the Energy Information Administration (EIA) reported a storage withdrawal that was somewhat greater than what traders were expecting.
NatGas Cash, Futures Continue Slide as EIA Reports Relatively Stout Inventory Pull
Although most physical traders try to get their deals done before the release of Energy Information Administration (EIA) natural gas inventory data, it looked as though the cash market was dancing to the same tune as futures Thursday. Both lost about a nickel.
Weak Heating Load Expected; April Seen 4 Cents Lower
April natural gas is expected to open 4 cents lower Wednesday morning at $1.70 as traders digest extreme eastern warmth seen in near-term forecasts and heating degree days about half of normal. Overnight oil markets were mixed.
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In accordance with FERC Order No. 809, Intercontinental Exchange (ICE) intends to comply by making a number of changes, which will go into effect for trade date March 31.
Eastern Shippers Scramble to Avoid REX Shut-Ins; NatGas Futures Tumble
Next-day natgas gained ground in trading Wednesday as stout gains at eastern points to the tune of about 20 cents tugged the overall market higher. The Rockies and California advanced by about a nickel, but gains in the Gulf, Midcontinent, and Texas came in just a few pennies higher.