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U.S. GAS: Gas Jumps 3% on Forecast of Colder Weather

Dow Jones Newswires -- Natural-gas futures jumped Tuesday to a new 12-month high in anticipation of a natural-gas-storage report expected to show a decline due to cold weather.

Natural gas for December delivery rose 11.3 cents, or 3%, to settle at $3.832 a million British thermal units on the New York Mercantile Exchange.

Market participants and analysts said Tuesday's market was bidding up the fuel in light of consensus expectations Wednesday's natural-gas inventory report would show a withdrawal.

A Dow Jones Newswires survey of 13 analysts and traders showed expectations for a withdrawal of 27 billion cubic feet of gas compared with the five-year average of a 3 billion cubic feet storage injection.

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Submitted Nov 21, 2012 By: RENEGADEGAS

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sjf238 Champion Author Philadelphia Posts:1,215 Points:648,705 Joined:Mar 2011	Message Posted: Nov 22, 2012 3:07:34 PM Ignore sjf238 Report Abuse so silly. We have tons of gas here in the USA. The next step is to export it to drive the price up even higher.
DanMtz Champion Author Oakland Posts:3,496 Points:1,271,125 Joined:Oct 2009	Message Posted: Nov 22, 2012 10:29:45 AM Ignore DanMtz Report Abuse That's OK, it's still cheap.
blupupher Champion Author Houston Posts:3,695 Points:775,745 Joined:Feb 2011	Message Posted: Nov 22, 2012 9:02:08 AM Ignore blupupher Report Abuse no jump here yet
BEGTWO Champion Author Maryland Posts:2,077 Points:751,315 Joined:Sep 2010	Message Posted: Nov 22, 2012 7:59:56 AM Ignore BEGTWO Report Abuse Not Good!!! :-(
gs7101 Champion Author San Antonio Posts:5,658 Points:396,020 Joined:Jun 2009	Message Posted: Nov 22, 2012 6:31:03 AM Ignore gs7101 Report Abuse Winter is approaching -- no big surprise here!
Bill100 Champion Author Grand Rapids Posts:41,749 Points:1,190,545 Joined:Jan 2010	Message Posted: Nov 22, 2012 4:47:42 AM Ignore Bill100 Report Abuse Someone's faorcasting colder weather? Must be they weren't figuring on it this winter.
jrs4125 Champion Author Indiana Posts:2,898 Points:619,445 Joined:Sep 2011	Message Posted: Nov 22, 2012 4:16:17 AM Ignore jrs4125 Report Abuse Just in time for winter
Zonk Champion Author Michigan Posts:6,621 Points:2,130,465 Joined:Oct 2005	Message Posted: Nov 22, 2012 12:26:53 AM Ignore Zonk Report Abuse \|Hard to believe the projected data, especially when compared with the five year average.
jorod55 Champion Author California Posts:1,612 Points:459,200 Joined:Dec 2011	Message Posted: Nov 22, 2012 12:24:35 AM Ignore jorod55 Report Abuse Market speculators and analysts we all thank you very much. And I'm sure that Boon and Aubry thank you too.
ruca2012 Champion Author San Diego Posts:1,205 Points:240,890 Joined:Oct 2012	Message Posted: Nov 22, 2012 12:14:09 AM Ignore ruca2012 Report Abuse we ahve plenty of natural gas , why raise the price when the economy is bad and many people can bearly pay their mortgage. greedy company's
VikingWoman Champion Author Washington Posts:1,445 Points:278,555 Joined:May 2012	Message Posted: Nov 22, 2012 12:10:09 AM Ignore VikingWoman Report Abuse If we could only tap all those other great sources of natural gas that walk around - the cropdusters of the office and other places - the speculators would be brokenhearted.
jrschl Champion Author Louisville Posts:3,107 Points:708,765 Joined:Jun 2011	Message Posted: Nov 22, 2012 12:07:51 AM Ignore jrschl Report Abuse Watched "Gasland" this past week. Makes me think about NG differently.
mrreferee Champion Author Savannah Posts:1,363 Points:580,345 Joined:Jun 2011	Message Posted: Nov 21, 2012 11:59:29 PM Ignore mrreferee Report Abuse gas jumps when someone farts in their office
mia3bxs Veteran Author Miami Posts:487 Points:332,265 Joined:Jul 2011	Message Posted: Nov 21, 2012 11:59:23 PM Ignore mia3bxs Report Abuse Great! Speculation driving up the price.
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Nov 21, 2012 11:56:03 PM Ignore mstearno Report Abuse always comes always jumps who uses heating oil anyways.....
preacherjohn Champion Author Modesto Posts:4,096 Points:1,943,310 Joined:May 2006	Message Posted: Nov 21, 2012 11:55:45 PM Ignore preacherjohn Report Abuse come see come saw.
OGW Champion Author London Posts:5,446 Points:1,558,085 Joined:Sep 2005	Message Posted: Nov 21, 2012 11:53:47 PM Ignore OGW Report Abuse What a surprise, did they not know winter comes this time of year?
s6sputnik Champion Author Austin Posts:6,332 Points:1,333,645 Joined:Jun 2007	Message Posted: Nov 21, 2012 11:50:11 PM Ignore s6sputnik Report Abuse Ok
jrsva Champion Author Virginia Posts:9,999 Points:1,639,950 Joined:Jan 2006	Message Posted: Nov 21, 2012 11:50:03 PM Ignore jrsva Report Abuse “Up 32 cents here, now $3.59.” Try at least glancing at the article before commenting, You’re quoting a price for gasoline but this article is about natural gas.
jrsva Champion Author Virginia Posts:9,999 Points:1,639,950 Joined:Jan 2006	Message Posted: Nov 21, 2012 11:44:03 PM Ignore jrsva Report Abuse “. . . empirical data that shows we haven't been warming for around the last 12 years.” Ummmm, wrong adjective. That’s imaginary data, not empirical data. The ten warmest years in recorded history occurred in the last 12 years. Sea ice on the Arctic ocean covers less and less area every year and glaciers have been in continuous retreat for decades.
abcdMA Champion Author Worcester Posts:8,052 Points:1,600,730 Joined:Nov 2008	Message Posted: Nov 21, 2012 11:43:58 PM Ignore abcdMA Report Abuse aw come on now
WalkingWV Champion Author West Virginia Posts:3,755 Points:788,930 Joined:May 2008	Message Posted: Nov 21, 2012 11:42:00 PM Ignore WalkingWV Report Abuse Up 32 cents here, now $3.59.
camel1 Champion Author Minnesota Posts:8,410 Points:2,294,315 Joined:Jul 2006	Message Posted: Nov 21, 2012 11:41:39 PM Ignore camel1 Report Abuse any reason to increase prices. create a shortage with alleged huge quantities on hand or readily available
Ahking Champion Author Orange County Posts:3,599 Points:621,360 Joined:May 2011	Message Posted: Nov 21, 2012 11:41:13 PM Ignore Ahking Report Abuse If congress wants to hold hearings on exaggerated gas mileage claims, they definitely should look into this kind of price jumps.
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: Nov 21, 2012 11:39:40 PM Ignore Aviator_Rob Report Abuse I'd get that wood-burning stove now, @Cellsite. Start burning your dead leaves in the Fall for heat and any trees that have been blown over by all the wild weather we've been having.
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: Nov 21, 2012 11:37:12 PM Ignore Aviator_Rob Report Abuse Don't be so sure, @bvrbill. All this fracking has only bought us a decade or so of increased gas production. After 2020, U.S. production will start to decline again.
Cellsite Champion Author Appleton Posts:1,326 Points:311,385 Joined:Jun 2012	Message Posted: Nov 21, 2012 11:36:43 PM Ignore Cellsite Report Abuse Just a drop in the bucket compared to how high NG prices will soar when it takes off as a motor fuel. Better start pricing wood burning stoves now.
abcdMA Champion Author Worcester Posts:8,052 Points:1,600,730 Joined:Nov 2008	Message Posted: Nov 21, 2012 11:34:43 PM Ignore abcdMA Report Abuse anything can force prices up
bvrbill Champion Author Eugene Posts:3,440 Points:546,000 Joined:Jul 2011	Message Posted: Nov 21, 2012 11:33:55 PM Ignore bvrbill Report Abuse At least we won't be running out Nat Gas any time soon.
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: Nov 21, 2012 11:31:21 PM Ignore Aviator_Rob Report Abuse @FlogNut, I have a feeling you wouldn't recognize empirical data if it bit you on the butt. You're clinging to the one study that conveniently supports what you want to believe. Unfortunately, the other 12 studies conducted disagree with your one outlier.
mcmonsta Champion Author Honolulu Posts:3,347 Points:845,470 Joined:Sep 2009	Message Posted: Nov 21, 2012 11:30:08 PM Ignore mcmonsta Report Abuse yep...it's pay or freeze!
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: Nov 21, 2012 11:28:25 PM Ignore Aviator_Rob Report Abuse @texasvet, everyone roots for Global Warming when it's cold outside but nobody seems to feel that way when it's 105 degrees for a month straight in the Lone Star state.
drz614 Champion Author Harrisburg Posts:2,440 Points:625,990 Joined:Aug 2011	Message Posted: Nov 21, 2012 11:26:56 PM Ignore drz614 Report Abuse ok
FlogNut Champion Author Chicago Posts:104,855 Points:2,016,125 Joined:Oct 2007	Message Posted: Nov 21, 2012 11:26:48 PM Ignore FlogNut Report Abuse jrsva - When it comes to Global Warming I'd say the idiots are those who refuse to look at the empirical data that shows we haven't been warming for around the last 12 years. The Global Warming computer models for many years have been telling us about a hot spot in the troposphere near the equator. But all the actual measurements never seem to find that hot spot.
The3rd Champion Author Jacksonville Posts:3,003 Points:837,775 Joined:Jul 2004	Message Posted: Nov 21, 2012 11:26:33 PM Ignore The3rd Report Abuse Just as the prices were dropping a Holiday comes along and up go the prices...........
Cyberkedi Champion Author Atlanta Posts:13,371 Points:2,317,615 Joined:Aug 2005	Message Posted: Nov 21, 2012 11:25:11 PM Ignore Cyberkedi Report Abuse Yeah, the hogs hiked 'em up for the holiday. Thanks for nothing!
tco9436 Champion Author Connecticut Posts:1,807 Points:743,650 Joined:Mar 2010	Message Posted: Nov 21, 2012 11:24:44 PM Ignore tco9436 Report Abuse Another complete joke!!!!!!!!! On us!!!
bonzoonfmb Champion Author Florida Posts:1,817 Points:664,910 Joined:Feb 2010	Message Posted: Nov 21, 2012 11:23:10 PM Ignore bonzoonfmb Report Abuse Gas prices are too high.
jrsva Champion Author Virginia Posts:9,999 Points:1,639,950 Joined:Jan 2006	Message Posted: Nov 21, 2012 11:20:15 PM Ignore jrsva Report Abuse “More colder weather. What happened to ‘Global Warming’?" Lord deliver us from idiots like this. The earth’s climate is changing over decades, not weeks or months. We will still have cold weather in winter and hot weather in summer and not every year will be warmer than the year before. Anyone who is not trapped in the Fox Noise bubble can examine the record and see that the climate has changed substantially over the past century.
shari128 All-Star Author Iowa Posts:573 Points:879,415 Joined:Jun 2010	Message Posted: Nov 21, 2012 11:16:48 PM Ignore shari128 Report Abuse I hope they are wrong about the gas prices, & also about the weather.
dlemma Champion Author Wyoming Posts:4,246 Points:1,582,720 Joined:Feb 2008	Message Posted: Nov 21, 2012 11:15:59 PM Ignore dlemma Report Abuse That's how the spot market works.
MidNJ Champion Author New Jersey Posts:7,686 Points:1,197,290 Joined:Sep 2009	Message Posted: Nov 21, 2012 11:15:49 PM Ignore MidNJ Report Abuse John, It is not about global warming, it is about climate change, and more. Please update your data to go beyond 2007.
Johnnyrebell12 Champion Author Massachusetts Posts:1,337 Points:1,438,805 Joined:Aug 2005	Message Posted: Nov 21, 2012 11:15:17 PM Ignore Johnnyrebell12 Report Abuse If it wasn't the cold weather they'd fine some other reason to increase the price
wayoung56 Champion Author Alabama Posts:2,920 Points:845,010 Joined:Oct 2006	Message Posted: Nov 21, 2012 11:13:43 PM Ignore wayoung56 Report Abuse Figures, business as usual for the speculators...
Fitwit Champion Author Stockton Posts:6,523 Points:1,379,755 Joined:May 2009	Message Posted: Nov 21, 2012 11:10:10 PM Ignore Fitwit Report Abuse Please, I haven't had a chance to take advantage of the low price yet.
mlmeng Champion Author Michigan Posts:1,775 Points:618,760 Joined:Mar 2011	Message Posted: Nov 21, 2012 11:09:50 PM Ignore mlmeng Report Abuse Well said John747.
LQQKGAS Champion Author Phoenix Posts:2,770 Points:1,222,675 Joined:Oct 2009	Message Posted: Nov 21, 2012 11:08:38 PM Ignore LQQKGAS Report Abuse Just wait for the price jump when NAT GAS becomes a popular auto fuel.
weenerdog Champion Author Detroit Posts:9,596 Points:1,911,615 Joined:Jan 2008	Message Posted: Nov 21, 2012 11:02:46 PM Ignore weenerdog Report Abuse on a forecast?
camaro_man Champion Author Kitchener-Waterloo Posts:2,372 Points:638,745 Joined:Jun 2010	Message Posted: Nov 21, 2012 11:01:58 PM Ignore camaro_man Report Abuse typical....
John747 Champion Author Chicago Posts:474,663 Points:3,652,610 Joined:Aug 2001	Message Posted: Nov 21, 2012 11:01:23 PM Ignore John747 Report Abuse More colder weather. What happened to "Global Warming?"