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SELECTED PRESS RELEASE:
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posted on:
6/7/2012 4:51:45 PM EST
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Natural Gas trends lower
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From Gerry Herr: Nordic Energy
Market- The natural gas market traded lower this week and over-supply is keeping prices low; but warm weather and hurricane threats could push prices higher. This week was another storage injection. We still have more gas in storage than last year and the 5 year average. The US gas traditional rig count was a decrease this week of 6 and horizontal drilling decreased 8 rigs. Prices continue to be tempered by flat industrial demand; but the economy is improving. Gas production levels due mostly to shale drilling are still strong and exports continue. Natural gas is very attractive to fix at this time. The Crude oil price for July is lower this week at $84.96 per barrel. Heating oil is lower at $2.66 per gal. Unleaded gasoline futures are lower this week at $2.68 and gasoline at the pump is around $3.69…in Indiana. The natural gas storage report today was an injection of 62 BCF; storage is 713BCF higher than last year and 687 BCF higher than the 5 year average.
Mike Grimes
President
Commercial Energy Consultants LLC
877-212-1400
314-212-1401 Fax
314-608-3279 Cell
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