Prices are expected to rise, initially pushed higher by increased gas demand for cooling, as Senior Meteorologist Joe Bastardi of AccuWeather.com predicted this summer to be the “hottest summer since 2005 for much of the nation” and later from increased demand in industrial and power generation.
Chevron declared that its second-quarter profits slipped 71 percent and the second-leading U.S. oil company put its entire land-based natural gas drilling operation on hold, citing dismal demand. For full story, click here
India’s Oil & Natural Gas Corp has sold a total of 70,000 tonnes of naphtha at lower premiums on higher supplies amid weak spot demand. For full story, click here
The U.S Natural Gas Fund expanded today to the leading position in its 27-month history as investors snapped up the last of its shares and it awaited government approval to issue more units. For full story, click here
The U.S. Energy Information Administration declared that there will be lower domestic natural gas output and consumption in 2009, as poor economic conditions continue to pressure drilling and overall demand. For full story, click here
Natural-gas futures have finished lower Thursday after U.S. government data showed a bigger-than-expected build in gas inventories last week, adding to already-ample supplies as weak demand and mild weather continue to pressure prices. For full story, click here
Gas prices surged for the 48th straight day, matching a record going back to at least the 1970s, with prices now up nearly two-thirds since the beginning of the year even as demand from motorists remains weak. For full story, click here
The U.S. Energy Information Administration has expected natural gas prices to remain below $4 a thousand cubic feet until late this year amid robust supplies and weaker demand resulting from the economic slump. For full story, click here
The U.S. Energy Information Administration has expected natural gas prices to remain below $4 a thousand cubic feet until late this year amid robust supplies and weaker demand resulting from the economic slump. For full story, click here
Russia’s natural gas output dipped further in May as the country cut fuel extraction sharply in response to plunging demand in Europe and at home while oil output held steady. For full story, click here
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