Summer is over and the shoulder season, where air conditioners have been turned off and heaters have yet to be turned on, has arrived is the message that was sent by natural gas cash prices for the week ending Sept. 27, as a vast majority of individual pricing points across the country declined by 20-plus cents. NGI’s National Spot Gas Average for the week came in at $3.47, down 20 cents from the previous week.
Articles from NGI Data
Gas-Fired Power Generation Down 14% Compared to 2012
Total natural gas used for power generation in the United States was down 14% between January and July 2013 compared with the same seven month period in 2012, due primarily to higher gas prices relative to coal prices this year, according to a report issued last week by the Energy Information Administration (EIA).
Gains Of A Nickel To A Dime Common In Weekly Cash Trading
For the week ending Sept. 20 physical gas prices nationally averaged a 7-cent gain to $3.67. A handful of eastern points fell into the loss column but for the most part gains of a nickel to a dime at individual points were common. The Northeast was the only region posting a loss, down 3 cents to $3.39 and East Texas was the biggest winner adding 10 cents to average $3.69.
Statoil Economist: Plenty of Outlets for North America Gas
North America should find plenty of outlets for its copious natural gas reserves, but some questions need to be clarified soon, such as whether to allow manufacturers to dictate how much supply remains onshore, or whether the free market fuels an export revolution, according to Statoil ASA’s chief economist.
September Bidweek Sees Firm California, Basis Flip-Flops
NGI’s National Spot Gas Average for September bidweek advanced a seemingly nominal 4 cents to $3.49 from the previous month, but even though the Midwest got the lion’s share of market focus during August as it endured a brutal heat wave, California for the most part scored the nation’s highest bidweek price, with the PG&E Citygate coming in at $3.88, up 12 cents.
Cool Temps, Gas Surplus Send August Bidweek Down 21 Cents
This year’s unseasonably cool summer in parts of the eastern United States and a natural gas supply glut brought on by the country’s shale production boom are continuing to put downward pressure on natural gas prices, as evidenced byNGI’s August Bidweek Survey. The national spot gas average for the month dropped 21 cents from July to average $3.45/MMBtu.
Northeast Leads ‘Free Fallin’ July Bidweek
With screen prices at a three-month low it’s no surprise that July bidweek came in a bit soft.NGI’s National Spot Gas Average for July bidweek came in at $3.66, a 48-cent decline from June 2013, but 94 cents higher than the July 2012 bidweek average.