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Natural gas plunges following the small add in inventories last week despite cooling degree days...

Natural gas plunges following the small add in inventories last week despite cooling degree days being 50% higher than normal. UNG -3.3%. Producers: APA -2.7%, CHK -3.7%, APC -2.8%.
Comments (15)
  • Hmm interesting and Coal stockpiles at utilities are shrinking... (So I have heard anyway).
    12 Jul 2012, 10:56 AM Reply Like
  • It seems folks were buying because inventory growth appeared to be slowing, and folks are selling because even the story that a heat wave should drive up consumption and inventory growth down isn't playing ball.

     

    Fact is inventory is so large that large consumers can wait out a price decrease and traders will be hard pressed to out wait real consumers.
    12 Jul 2012, 11:11 AM Reply Like
  • Conversion to NG is underway throughout our economy. We need decreased energy costs to cope with the lack of disposible income and the need for debt reduction, If indeed austerty is the way for us to climb out of our weak economy, cheap, abundant NG is a huge blessing and avenue to create more jobs and lower living expenses. My call is that $3+ NG will soon indicate the beginning of a long term uptrend in price.
    12 Jul 2012, 11:24 AM Reply Like
  • Dick, I cannot agree with you more. I think this must be a sell on the news phenom. Nat gas price trend is up. Still cheap though. We need to start exporting our excess inventories of energy (coal and nat gas) abroad but exporting nat gas is going to take a long time.
    12 Jul 2012, 12:01 PM Reply Like
  • storage up 33 bcf vs expectations of 25bcf & historical avr 85bcf (this year warmer than avr)
    12 Jul 2012, 12:09 PM Reply Like
  • I believe this is a technical correction. Already recovering: QNGQ12 2.825 -0.028 11:16 AM Storage injections have fallen below the seasonal norm for 10 straight weeks. I look for NYMEX '12 Sep-Dec. strip to stay in the 2.90 to 3.00 range until we see a reversal on the storage trend. Still a significant surplus BUT has certainly come off of the near .9 Tcf year-over-year surplus close to the start of injection season. Fundamentally has been trending to the bullish side.
    12 Jul 2012, 12:20 PM Reply Like
  • Fully recovered and in the green for the day.
    12 Jul 2012, 01:22 PM Reply Like
  • I think the price has moved from under $2.00 to $ 2.87 in 60 days
    That is a increase of around 45%
    12 Jul 2012, 02:25 PM Reply Like
  • i like energy esp coal nat gas west canada etc because of the triple threat;

     

    good now
    better soon
    awesome later

     

    i mean unless you are choosing a BK its just bargains all around esp in oil, unless you see us crashing and oil @ 50
    12 Jul 2012, 11:10 PM Reply Like
  • took some profits-sold some iez today at 46.91
    13 Jul 2012, 09:50 AM Reply Like
  • Latest big development: Motion to Intervene/Join case filed by Kenneth Buell, surface and claimed mineral owner of Buell 8H. Due to shared deed language with Jewett, Buell 8H very likely to be shut-in by court order within next 30 days. Implications for CHK, especially viability as JV partner, marketability of it's non-core Utica holdings, ability to meet JV drilling targets in core holdings (including around Buell well). Also embarrassing for Total, SA who it will soon be revealed does not own horizontal drilling rights in Buell 8H, the first well transferred as part of 2011 JV. According to trial Court's interpretation of deed language that is "fairly common" (per McDermott Will & Emery, LLP) throughout eastern Ohio, CHK lacks horizontal drilling rights in at least 5 square mile area (3,200 acres) around Buell well (public land records). Stage seemingly being set for class action or the functional equivalent to challenge horizontal drilling rights across Harrison County and other counties. Serious litigation that threatens to cloud Utica titles for CHK and all other producers in Ohio. *no position in CHK - no plan to initiate*
    13 Jul 2012, 04:33 PM Reply Like
  • sold some iez profits today at 48.18
    18 Jul 2012, 11:28 AM Reply Like
  • bot some iez this morning at 48.24
    23 Jul 2012, 11:00 AM Reply Like
  • took some iez profits at 49.76
    26 Jul 2012, 10:31 AM Reply Like
  • took some profits in iez at 51.17
    27 Jul 2012, 11:03 AM Reply Like
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