Natural Gas (1 Viewer)

[Fleursdumal]

ierisera sul finale di seduta pit finalmente il gran salto, mi son liberato di un pò di roba e rimango a seguire con un solo mini, segue cronaca della nostra jeanine


US GAS: Futures End 7.09% Higher On Crude, Storm Fears


By Jeanine Prezioso
Of DOW JONES NEWSWIRES


HOUSTON (Dow Jones)--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.

Front-month October natural gas futures on the New York Mercantile Exchange
closed floor trading 39 cents higher, or 7.09%, at $5.891 a million British
thermal units. October futures rose to trade 8.4% higher, or 45.9 cents, at
$5.976/MMBtu in after-hours electronic trading.

The gain posted in the last minutes of floor trading and was the single
highest one-day percentage and dollar gain since Jan. 30.

Analysts and traders looked to a host of reasons to define the late day sharp
price move including three developing Atlantic tropical storm systems, any of
which could enter the U.S. Gulf of Mexico and disrupt energy production.

Heavy buying followed heavy selling Monday as the market hit a low of
$5.249/MMBtu in overnight electronic trading. October gas futures traded lower
in early morning floor trading, then higher after traders absorbed news of
several explosions on Mexican state-run Petroleos Mexicanos, or Pemex's,
natural gas pipelines in Veracruz. The market initially thought that some U.S.
gas supplies would be sent to Mexico to make up for what was lost on the
pipeline. Analysts pointed out that a dearth of capacity between the U.S. and
the eastern state of Veracruz would prevent U.S. supplies from moving to
Mexico.

But storm fears and the threat of supply disruptions sent some traders with
short positions bargain hunting, buying back previously sold contracts looking
to lock in lower prices as the commodity rose in value.

The price move was exaggerated at the day's end by crude's sharp move higher.

"This thing turned on a dime and took off like a rocket," said Jim
Ritterbusch president of energy consultancy Ritterbusch & Associates in Galena,
Ill. "Crude oil took off in the last 10 minutes and it looked like natural gas
got pulled up with it."

Nymex October crude oil futures settled 79 cents per barrel higher at $77.49,
the second-highest settlement for a front-month contract ever.

Traders said a fund or other entity was trying to squeeze another party out
of the October/November spread by taking the opposite side of the trade.

The Nymex November contract settled floor trading 27 cents higher at
$6.716/MMBtu.

Others said some speculators were adding length and building a storm premium
into the price betting prices will rise if a hurricane enters the U.S. Gulf and
disrupts the 13% of the nation's gas production there.

The overall market state is jittery as traders keep Hurricanes Dean and Felix
in mind, the only two Category 5 hurricanes to make landfall within the same
year. Wind shear and warm ocean temperatures are favorable factors in storm
formation and both are currently present in the Atlantic Basin.

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.

"It's something to watch over the next few days," said Matt Riggs, a
meteorologist with MDA's EarthSat Weather in Rockville, Md. "But it's too far
out to pin an exact location on it."

Strong winds will prevent two other tropical weather systems in the Windward
Islands and the U.S. Gulf from further developing, meteorologists said.

Some traders did not put much credence in Monday's rally betting prices will
deflate as quickly as they went up without a storm.

"The only thing to save natural gas from a large falloff is a storm in the
Gulf," a trader said.

FUTURES SETTLEMENT NET CHANGE
Nymex October $5.891 +39.0
Nymex November $6.716 +27.0
Nymex December $7.476 +17.5

CASH HUB RANGE PREVIOUS DAY
Henry Hub $5.47-$5.74 $5.49-$5.65
Transco 65 $5.60-$5.90 $5.56-$5.64
Tex East M3 $6.00-$6.30 $5.90-$6.00
Transco Z6 $6.00-$6.30 $5.90-$5.95
SoCal $5.30-$5.42 $5.15-$5.29
El Paso Perm $5.05-$5.40 $4.99-$5.18
El Paso SJ $5.15-$5.27 $4.84-$4.95
Waha $5.17-$5.37 $5.05-$5.22
Katy $5.41-$5.75 $5.45-$5.58

 

[Fleursdumal]

dopo il saltone della settimana scorsa, ora si sta scommettendo che lo storm visto in formazione non impatterà le strutture del Golfo
se si avvicina troppo ai 6 , vendo l'ultimo mini rimasto

DJ UPDATE: US GAS: Futures End Lower As Market Eyes Storm Path


By Christine Buurma
Of DOW JONES NEWSWIRES


NEW YORK (Dow Jones)--Natural gas futures ended lower Tuesday after a day of
choppy trading, with many traders continuing to bet that the price of natural
gas would fall even as the market tried to determine whether a storm system off
the east coast of Florida could impact energy infrastructure in the U.S. Gulf
of Mexico.

Natural gas for October delivery on the New York Mercantile Exchange settled
floor trade down 8.5 cents, or 1.28%, at $6.568 a million British thermal units
Tuesday after reaching a low of $6.168/MMBtu earlier in the day in combined
electronic and floor trading.

Traders who had been betting on the price of natural gas to fall were driving
prices lower Tuesday despite indications of storm activity that could move into
the U.S. Gulf, said George Speicher, a principal with Dow Corp. and director of
research for Ambridge Energy in Houston. Such traders remain vulnerable to
losses in the event of a sudden upswing in gas prices, which could occur if a
hurricane threat to the Gulf becomes apparent.

"There are a lot of shorts in this market," Speicher said.

Meteorologists remained uncertain as to whether a tropical disturbance near
Florida could disrupt U.S. energy infrastructure in the Gulf. Most weather
models show the storm system moving across the Gulf toward Texas and Louisiana
late this week, by which time it could become a Category 1 hurricane, although
the storm's exact path is unclear.

The potential for storm development in the U.S. Gulf later this week is
strong, said Jim Rouiller, a meteorologist with private forecaster Planalytics
in Wayne, Pa. The wave should intensify as it nears the U.S. Gulf, posing a
threat to energy production, Rouiller said, with high ocean heat making the
storm poised for explosive growth.

Natural gas futures pared some losses late in the floor session as traders
weigh the potential for storm activity in the U.S. Gulf against rising
inventories and early predictions of a warm fall and winter, said Charlie
Sanchez, a trader with Gelber & Associates in Houston.

"It's a tough market to pin down fundamentally," Sanchez said. "There's a
struggle with the perception that there is a bear market and the perception
that we need to have some kind of rally" during the hurricane season.

Rising levels of natural gas in U.S. storage continued to place downward
pressure on futures prices Tuesday. Mild weather has led to sizable injections
of natural gas into storage over most of the summer, leading some analysts to
worry that the market will become oversupplied.

Preliminary estimates point to an injection of 65-75 billion cubic feet for
the week ended Sept. 14, compared to 64 bcf the previous week. U.S. natural gas
inventories now total a record 3.069 trillion cubic feet, 9.3% above the
five-year average for the same period.

 

[Fleursdumal]

uscito dalla posizione, dato che l'oct ha 6 giorni residui di vita si inizia a guardare il novembre

 

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