DJ UPDATE:US GAS: Futures End 7.09% Higher On Crude, Storm Fears
futuresource.quote.com
(Table of Settlement and Cash prices at link)
Natural gas futures gained more than 7% in late floor
trade on Monday as traders went on a buying spree following crude oil's
second-highest settlement ever, and bet prices could rise from
hurricane-induced production outages in the U.S. Gulf...
...The gain posted in the last minutes of floor trading and was the single
highest one-day percentage and dollar gain since Jan. 30...
...Forecasters are eyeing three tropical weather systems. Some weather models
show a tropical wave currently developing in the middle of the Atlantic moving
west, northwest over the next week but nothing entering the U.S. Gulf with any
significant strength...
...Some traders did not put much credence in Monday's rally betting prices will
deflate as quickly as they went up without a storm.
BLOOMBERG: Nymex Natural Gas Rises on Storm Threat, Sabotage in Mexico
bloomberg.com
Natural gas in New York rose the most in seven months as the National Hurricane Center said a tropical depression may soon form in the Atlantic and saboteurs attacked gas pipelines in Mexico...
... Gas advanced ``because of the terrorist activity in Mexico,' said Michael Rose, trading director at Angus Jackson Inc. in Fort Lauderdale, Florida. ``The market is on edge, everybody is short and whenever anything happens we'll go up.'
REUTERS: U.S. spot natural gas prices moved higher
on Monday, backed by some catch-up buying after a warm weekend kicked up
demand despite forecasts for mild Northeast and Midwest weather for this
week, traders said.
investorvillage.com
"It was humid (in the Northeast) over the weekend, so I think we saw
some pay back buying in the cash which pushed up prices, but it's hard to
get real bullish with this much gas in the ground (storage)," said one
Houston-based trader, adding he expected demand to fall this week based on
the milder weather outlook.
---
Physical Natural Gas Prices generally up except some places the West which were down over a dollar. Some Western transactions at $0.25 or less.
intelligencepress.com
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Tropical Weather:
The NRL has dropped Invests 90L and 92L
nrlmry.navy.mil
Atlantic Tropical Weather Outlook
nhc.noaa.gov
530 PM EDT MON SEP 10 2007
FOR THE NORTH ATLANTIC...CARIBBEAN SEA AND THE GULF OF MEXICO...
THE NATIONAL HURRICANE CENTER IS ISSUING ADVISORIES ON TROPICAL
DEPRESSION GABRIELLE...LOCATED ABOUT 260 MILES SOUTH OF NANTUCKET
MASSACHUSETTS.
[ This is 91L ]
A BROAD AREA OF LOW PRESSURE...ASSOCIATED WITH A TROPICAL WAVE...IS
LOCATED ABOUT MIDWAY BETWEEN THE CAPE VERDE ISLANDS AND THE LESSER
ANTILLES AND IS ACCOMPANIED BY A LARGE AREA OF SHOWERS AND
THUNDERSTORMS. THIS SYSTEM IS SLOWLY BECOMING BETTER ORGANIZED AND
COULD DEVELOP INTO A TROPICAL DEPRESSION WITHIN A DAY OR TWO AS IT
MOVES WESTWARD TO WEST-NORTHWESTWARD AT 10 TO 15 MPH.
[ This was 92L ]
SHOWER AND THUNDERSTORM ACTIVITY OVER THE LESSER ANTILLES AND THE
EXTREME EASTERN CARIBBEAN SEA IS ASSOCIATED WITH A TROPICAL WAVE.
SURFACE PRESSURES ARE NOT FALLING IN THE AREA...AND SIGNIFICANT
DEVELOPMENT OF THIS SYSTEM IS NOT ANTICIPATED AS IT MOVES
WEST-NORTHWESTWARD AT ABOUT 15 MPH.
[This was 90L ]
SURFACE OBSERVATIONS INDICATE THAT A BROAD AREA OF LOW PRESSURE IS
LOCATED OVER THE WESTERN GULF OF MEXICO. ALTHOUGH THE ASSOCIATED
CLOUDINESS AND THUNDERSTORMS ARE DISORGANIZED AT THIS TIME...
UPPER-LEVEL WINDS COULD BECOME A LITTLE MORE FAVORABLE FOR
DEVELOPMENT AS THE SYSTEM MOVES SLOWLY WESTWARD.
ELSEWHERE...TROPICAL CYCLONE FORMATION IS NOT EXPECTED DURING THE
NEXT 48 HOURS.
$$
FORECASTER ROBERTS/PASCH |
