Natural Gas
Domestic oil production reversed decades-long decline in 2009 and 2010
Following declines in all but one year from 1986 to 2008, U.S. oil production (crude oil and lease condensate) increased in 2009 and again in 2010.
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Natural gas outlook: Abundant supply takes spot prices lower
As the story of abundant natural gas supply continued to provide headlines for the market this report week (Wednesday to Wednesday, April 6-13), spot prices at most market locations in the lower 48 States decreased.
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Natural gas outlook: Hub prices down 8 cents
Continuing last week’s net decline, the Henry Hub price this week fell 8 cents from $4.25 per million Btu (MMBtu) on Wednesday, March 30, to $4.17 per MMBtu on Wednesday, April 6.
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Natural gas outlook: price decline continues
Working natural gas in storage rose to 1,624 billion cubic feet (Bcf) as of Friday, March 25, according to the Energy Information Administration’s Weekly Natural Gas Storage Report.
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Natural gas outlook: Colder weather increases demand, pricing across the U.S.
Colder weather moved into major population centers this report week, increasing demand related to space heating for much of the country. Prices moved higher at all trading locations in the lower 48 States.
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Natural gas outlook: Futures prices higher for delivery in near-term
At the New York Mercantile Exchange (NYMEX), futures prices increased slightly for delivery in the near-term. The futures contract for April delivery increased by less than 1 cent per MMBtu on the week to $3.94 per MMBtu. Changes in contract prices with delivery in later months and years moved progressively higher through the forward curve, however, likely in part as a result of concerns over the longer-term implications of the current crisis at Japan’s nuclear plants
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Natural gas outlook: April 2011 contract price up 11 cents
At the New York Mercantile Exchange (NYMEX), the April 2011 natural gas contract price rose 11.2 cents to $3.900 per MMBtu from the previous Wednesday.
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Natural gas outlook: Prices show continued relative weakness
Natural gas prices showed continued relative weakness during the report week. The spot price at the Henry Hub fell from $3.83 per million Btu (MMBtu) on February 23 to $3.79 per MMBtu on March 2
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Natural gas outlook: Spot prices soft
Natural gas spot prices were soft again at nearly all domestic pricing points. The Henry Hub price fell 10 cents per million Btu (MMBtu) (2.5 percent) for the week ending February 23, to $3.83 per MMBtu.
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Natural gas outlook: Warmer temperatures take spot prices lower
A reprieve from extreme cold in much of the country this week limited space-heating demand, contributing to price declines. The biggest price decreases occurred in the Northeast. During the report week (February 9-16), the Henry Hub spot price decreased $0.29 to $3.93 per million Btu (MMBtu).
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Natural gas outlook: Storage falls below 5-year average
Working natural gas in storage fell below the 5-year average for the first time since January 2010 to 2,144 Bcf as of Friday, February 4, according to the Energy Information Administration’s (EIA) Weekly Natural Gas Storage Report (WNGSR).
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