LONDON (Commodity Online): Natural Gas prices remained range bound, and the August contract went off the board today at $4.37 per MMBtu, unchanged on the day.
The rest of the curve was little changed as well, with the remainder of calendar 2011 down a cent to $4.43, and calendar 2012 down a cent to $4.74. Weather patterns are supportive, as forecasts continue to point to above-normal temperatures for large parts of the country in the near term and the first major storm has formed in the Gulf.
Yet, well-supplied markets feel little pressed to respond to the temporary factors that may have limited only sway on balances. Tropical storm Don has forced the evacuation of support workers on several offshore platforms, but has not caused production shut-ins.
Don is tracking toward the Texas coast, and is expected to pass through the western and west-central parts of the Gulf, staying far from the more densely developed parts south of Louisiana.
Cash markets strengthened marginally for most of the country, with Henry Hub up 3 cents to $4.46, Transco Zone-6 New York up 4 cents to $4.93, and Socal border up a cent to $4.46.
