LONDON (Commodity Online): The Natural Gas forward curve suffered corrections in the front but edged higher in the back. The prompt contract shaved off six cents to $2.50/MMBtu.
The balance of calendar 2012 inched lower by two cents to $2.96, while calendar 2013 moved up by three cents to $3.70.
The weather forecast for the 6-15 day period has again turned incrementally warmer while we are predicting that storage should head towards 2.2 Tcf at the end of March.
Although we have heard that some of the attrition was due to rig re-classification, Baker Hughes natural gas-directed rig count, nevertheless, fell sharply, yet again, by 32 rigs down to 745.
Cash prices mostly edged higher on the day with Henry Hub up by ten cents to $2.40. Socal Border inched up by four cents to $2.68. Transco-Z6 (NY) added seven cents to $2.78.
