Monday, July 20, 2009

Natural Gas Market Seeks Sign

Four consecutive weeks of smaller than expected injections of natural gas into US storage triggered a 12% price jump for the front month contract on the New York Mercantile Exchange in mid-July in what some hoped might be the first sign that well shut ins and reduced drilling may be decreasing supply. The August contract bumped up to $3.67/MMbtu on July 16 after the Energy Information Administration reported the injection of 90 bcf of gas into US storage in the week ended July 10. Still, the price of the front month gas contract.....Complete Story

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