Natural Gas Daily
Cash Prices Strengthen As Winter Chill Spreads

Thursday, November 10, 2011

The NYMEX December gas futures contract settled 9.3 cents lower at $3.652/MMBtu Wednesday, with analysts citing the weather and financial markets. But cash prices rose 5 to 10 cents in most regions.

In Texas, Houston Ship Channel picked up about 5 cents. Volumes at Katy Hub totaled more than 800,000 Mcf on ICE, a gain of about 300,000 Mcf.

The deepwater Independence Hub platform saw volumes drop from some 466,000 Mcf Tuesday to nearly zero Wednesday, Platts flow data shows. Bentek Energy analysts attributed the sharp decline to an apparent unscheduled maintenance shut-in at the 1 Bcf/d Anadarko Petroleum-operated facility. Based on past shut-ins, the maintenance is likely to last a few days, Bentek said. Bentek is a unit of Platts.

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