BLOOMBERG: N.Y. Natural Gas Declines as Ample Storage Eases Storm Concern
bloomberg.com
``Everyone was concerned about Karen, but the probability of Karen strengthening and getting into the Gulf is very low, under 10 percent,'' said Chris Jarvis, president of Caprock Risk Management in Hampton Falls, New Hampshire. ``There's plenty of gas in storage and at $7 on the front month it's way overvalued, the November contract could drop to around $5.''
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REUTERS: Most U.S. spot natural gas
prices slid Friday for the third consecutive day, pressured by
mild weather forecast for most of the nation early next week
and near-record high inventories, traders said.
But some western U.S. price points, boosted by the return
of weekday industrial demand on Monday, managed to eke out
gains despite the bearish fundamentals.
www1.investorvillage.com
Physical Natural Gas Prices - Down in The East and Gulf, Up in the West.
intelligencepress.com
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Bentek
bentekenergy.com
GULF PRODUCTION MONITOR: September 28, 2007
Independence Hub is fast approaching the half-way mark en route to its 1 Bcf/d finish by the end of the year. Production from the hub jumped more than 100,000 Dth/d today compared to levels on Thursday. Total Gulf production is up to 11.3 Bcf/d compared to a month-to-date average of 10.9 Bcf/d. The total reached 11.4 Bcf/d in yesterday's I2, but lower volumes on Transco, High Island, Destin, Sonat and others led to a decline today in the Louisiana numbers. Offshore production is back up to 8.1-8.2 Bcf/d.
TEXAS ENERGY BULLETIN: September 28, 2007
A notice from El Paso indicates that Keystone Station in Winkler CO, TX will be down Oct 2-5, reducing capacity at that location from 733 MMcfd to 150 MMcfd. The shutdown will limit the volume that can move from Plains through Eunice to approximately 400 MMcfd. The price at Socal dropped 27 cnts in Thursday trading to $5.56 while Waha was down only 13 cnts to $5.52. Thus the Socal - Waha differential declined from 18 cnts to 4 cnts. Flows moving west dropped by a huge 299,000 MMbtu or 44%. Ship Channel versus Henry dropped from 7 cnts to 3 ctns as Ship Channel came off 13 cnts to $6;.42 while Henry was down 9 cnts to $6.38. Flows moving ease are down by Panhandle was off by 22 cnts to $5.32. The Henry Hub to Waha differential increased to 86 cnts.
US POWER - GAS BURN REPORT: September 28, 2007
US gas burn falls off the face of the planet today, down 4.6 Bcf in this morning's evening cycle to 20.5 Bcf. Yesterday's I2 nominations rose 859 MMcf from yesterday's evening cycle. The RFC and SERC have seen the biggest downward shifts, off 681 MMcf and 951 MMcf respectively as hotter temps have moved on from both areas. The NPCC has also seen the last of it's Indian summer, down 325 MMcf from yesterday to a more placid 1.3 Bcf burn total. The FRCC also shifts downward by 137 MMcf to 2.4 Bcf.
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Tropical Weather
Tropical Storm KAREN may be downgraded to a Tropical Depression soon as it fights with high levels of wind shear. Tropical Depression LORENZO is dead. Tropical Depression FOURTEEN is headed North and is no threat to land.
nhc.noaa.gov |
