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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:647,955 Joined:Mar 2011	Message Posted: Nov 22, 2012 2:07:34 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:3,375 Points:1,247,325 Joined:Oct 2009	Message Posted: Nov 22, 2012 9:29:45 AM Ignore DanMtz Report Abuse That's OK, it's still cheap.
blupupher Champion Author Houston Posts:3,571 Points:752,045 Joined:Feb 2011	Message Posted: Nov 22, 2012 8:02:08 AM Ignore blupupher Report Abuse no jump here yet
BEGTWO Champion Author Maryland Posts:1,962 Points:728,140 Joined:Sep 2010	Message Posted: Nov 22, 2012 6:59:56 AM Ignore BEGTWO Report Abuse Not Good!!! :-(
gs7101 Champion Author San Antonio Posts:5,543 Points:389,670 Joined:Jun 2009	Message Posted: Nov 22, 2012 5:31:03 AM Ignore gs7101 Report Abuse Winter is approaching -- no big surprise here!
Bill100 Champion Author Grand Rapids Posts:41,523 Points:1,166,845 Joined:Jan 2010	Message Posted: Nov 22, 2012 3:47:42 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:2,778 Points:595,745 Joined:Sep 2011	Message Posted: Nov 22, 2012 3:16:17 AM Ignore jrs4125 Report Abuse Just in time for winter
Zonk Champion Author Michigan Posts:6,501 Points:2,106,765 Joined:Oct 2005	Message Posted: Nov 21, 2012 11:26:53 PM Ignore Zonk Report Abuse \|Hard to believe the projected data, especially when compared with the five year average.
jorod55 Champion Author California Posts:1,492 Points:435,565 Joined:Dec 2011	Message Posted: Nov 21, 2012 11:24:35 PM 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:1,084 Points:217,190 Joined:Oct 2012	Message Posted: Nov 21, 2012 11:14:09 PM 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:1,302 Points:255,790 Joined:May 2012	Message Posted: Nov 21, 2012 11:10:09 PM 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:2,987 Points:685,065 Joined:Jun 2011	Message Posted: Nov 21, 2012 11:07:51 PM Ignore jrschl Report Abuse Watched "Gasland" this past week. Makes me think about NG differently.
mrreferee Champion Author Savannah Posts:1,351 Points:561,405 Joined:Jun 2011	Message Posted: Nov 21, 2012 10:59:29 PM Ignore mrreferee Report Abuse gas jumps when someone farts in their office
mia3bxs Veteran Author Miami Posts:452 Points:313,740 Joined:Jul 2011	Message Posted: Nov 21, 2012 10:59:23 PM Ignore mia3bxs Report Abuse Great! Speculation driving up the price.
mstearno Champion Author Dayton Posts:8,085 Points:1,735,115 Joined:Jan 2008	Message Posted: Nov 21, 2012 10:56:03 PM Ignore mstearno Report Abuse always comes always jumps who uses heating oil anyways.....
preacherjohn Champion Author Modesto Posts:4,006 Points:1,923,680 Joined:May 2006	Message Posted: Nov 21, 2012 10:55:45 PM Ignore preacherjohn Report Abuse come see come saw.
OGW Champion Author London Posts:5,339 Points:1,535,800 Joined:Sep 2005	Message Posted: Nov 21, 2012 10:53:47 PM Ignore OGW Report Abuse What a surprise, did they not know winter comes this time of year?
s6sputnik Champion Author Austin Posts:6,222 Points:1,311,130 Joined:Jun 2007	Message Posted: Nov 21, 2012 10:50:11 PM Ignore s6sputnik Report Abuse Ok
jrsva Champion Author Virginia Posts:9,873 Points:1,617,000 Joined:Jan 2006	Message Posted: Nov 21, 2012 10:50:03 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:9,873 Points:1,617,000 Joined:Jan 2006	Message Posted: Nov 21, 2012 10:44:03 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:7,942 Points:1,579,730 Joined:Nov 2008	Message Posted: Nov 21, 2012 10:43:58 PM Ignore abcdMA Report Abuse aw come on now
WalkingWV Champion Author West Virginia Posts:3,701 Points:779,595 Joined:May 2008	Message Posted: Nov 21, 2012 10:42:00 PM Ignore WalkingWV Report Abuse Up 32 cents here, now $3.59.
camel1 Champion Author Minnesota Posts:8,285 Points:2,269,540 Joined:Jul 2006	Message Posted: Nov 21, 2012 10:41:39 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:3,527 Points:607,450 Joined:May 2011	Message Posted: Nov 21, 2012 10:41:13 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:3,816 Points:417,315 Joined:Mar 2012	Message Posted: Nov 21, 2012 10:39:40 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:3,816 Points:417,315 Joined:Mar 2012	Message Posted: Nov 21, 2012 10:37:12 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:1,244 Points:290,620 Joined:Jun 2012	Message Posted: Nov 21, 2012 10:36:43 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:7,942 Points:1,579,730 Joined:Nov 2008	Message Posted: Nov 21, 2012 10:34:43 PM Ignore abcdMA Report Abuse anything can force prices up
bvrbill Champion Author Eugene Posts:3,246 Points:522,525 Joined:Jul 2011	Message Posted: Nov 21, 2012 10:33:55 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:3,816 Points:417,315 Joined:Mar 2012	Message Posted: Nov 21, 2012 10:31:21 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:3,242 Points:821,470 Joined:Sep 2009	Message Posted: Nov 21, 2012 10:30:08 PM Ignore mcmonsta Report Abuse yep...it's pay or freeze!
Aviator_Rob Champion Author New York Posts:3,816 Points:417,315 Joined:Mar 2012	Message Posted: Nov 21, 2012 10:28:25 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:2,324 Points:602,595 Joined:Aug 2011	Message Posted: Nov 21, 2012 10:26:56 PM Ignore drz614 Report Abuse ok
FlogNut Champion Author Chicago Posts:104,420 Points:1,992,425 Joined:Oct 2007	Message Posted: Nov 21, 2012 10:26:48 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:2,886 Points:828,985 Joined:Jul 2004	Message Posted: Nov 21, 2012 10:26:33 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 10:25:11 PM Ignore Cyberkedi Report Abuse Yeah, the hogs hiked 'em up for the holiday. Thanks for nothing!
tco9436 Champion Author Connecticut Posts:1,782 Points:725,725 Joined:Mar 2010	Message Posted: Nov 21, 2012 10:24:44 PM Ignore tco9436 Report Abuse Another complete joke!!!!!!!!! On us!!!
bonzoonfmb Champion Author Florida Posts:1,792 Points:647,135 Joined:Feb 2010	Message Posted: Nov 21, 2012 10:23:10 PM Ignore bonzoonfmb Report Abuse Gas prices are too high.
jrsva Champion Author Virginia Posts:9,873 Points:1,617,000 Joined:Jan 2006	Message Posted: Nov 21, 2012 10:20:15 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:862,465 Joined:Jun 2010	Message Posted: Nov 21, 2012 10:16:48 PM Ignore shari128 Report Abuse I hope they are wrong about the gas prices, & also about the weather.
dlemma Champion Author Wyoming Posts:4,126 Points:1,559,020 Joined:Feb 2008	Message Posted: Nov 21, 2012 10:15:59 PM Ignore dlemma Report Abuse That's how the spot market works.
MidNJ Champion Author New Jersey Posts:7,575 Points:1,176,025 Joined:Sep 2009	Message Posted: Nov 21, 2012 10:15:49 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:1,333 Points:1,424,775 Joined:Aug 2005	Message Posted: Nov 21, 2012 10:15:17 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:2,825 Points:823,310 Joined:Oct 2006	Message Posted: Nov 21, 2012 10:13:43 PM Ignore wayoung56 Report Abuse Figures, business as usual for the speculators...
Fitwit Champion Author Stockton Posts:6,419 Points:1,359,120 Joined:May 2009	Message Posted: Nov 21, 2012 10:10:10 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:1,655 Points:595,060 Joined:Mar 2011	Message Posted: Nov 21, 2012 10:09:50 PM Ignore mlmeng Report Abuse Well said John747.
LQQKGAS Champion Author Phoenix Posts:2,685 Points:1,199,895 Joined:Oct 2009	Message Posted: Nov 21, 2012 10:08:38 PM Ignore LQQKGAS Report Abuse Just wait for the price jump when NAT GAS becomes a popular auto fuel.
weenerdog Champion Author Detroit Posts:9,481 Points:1,888,890 Joined:Jan 2008	Message Posted: Nov 21, 2012 10:02:46 PM Ignore weenerdog Report Abuse on a forecast?
camaro_man Champion Author Kitchener-Waterloo Posts:2,252 Points:615,045 Joined:Jun 2010	Message Posted: Nov 21, 2012 10:01:58 PM Ignore camaro_man Report Abuse typical....
John747 Champion Author Chicago Posts:472,700 Points:3,628,910 Joined:Aug 2001	Message Posted: Nov 21, 2012 10:01:23 PM Ignore John747 Report Abuse More colder weather. What happened to "Global Warming?"