Since Wednesday, August 15, all prices reported in the weekly chart (for both natural gas and crude oil) have decreased as Hurricane Dean failed to have a significant impact on domestic production in the Gulf of Mexico, and temperatures moderated demand.  Natural gas volumes in storage continue to increase.

Commodity

Price or Volumes

Change since last

% Change

Natural Gas Spot (Henry Hub)

$5.840/MMBtu

DOWN            $1.46

20.0%

NYMEX (September deliveries)

$5.578/MMBtu

DOWN            $1.286

18.7%

Natural Gas in Storage

2,926 Bcf

UP                      23 Bcf

12.8%

West Texas Intermediate Spot

$69.30/Bbl

DOWN            $4.06

5.5%

The EIA also reports that:

  • Northwest Pipeline Company announced that effective gas day August 22, and until further notice, injection requests for interruptible storage capacity at the Jackson Prairie storage facility in Washington State will not be accepted. Furthermore, all interruptible storage holders that have a balance in the storage facility must bring their storage balance to zero by September 7, 2007. Park and loan service remains available on a limited basis at the Jackson Prairie facility.
  • Questar Pipeline Company announced that it will be performing piping modifications between September 18 and 19, 2007, as part of the Southern System Expansion II project. To facilitate the work, Mainline 40 will be taken out of service from the Fidlar Station in Utah to the Green River block valve, located 24 miles west of Fidlar. In all, the pipeline plans on shutting in 18 points and reducing nominations to zero during the modifications. In addition, the Mainline 40 capacity will be reduced to about 330,000 decatherms per day for the 2 days. Nominations are expected to return to normal for gas day September 20.
  • Dominion Gas Transmission Company took the Smithburg station in Virginia out of service between August 22 and 23 for work related to a planned expansion of the station. During the outage, producer compression in bubble 4403 was shut in.
  • Southern Natural Gas Company announced that it has experienced an unscheduled outage at the DeArmanville compressor station located on the north system in eastern Alabama. As a result of this outage, Southern may be required to limit interruptible capacity in Group 4 – Chattanooga Group, Group 13 – East Tennessee Group, and Group 59 – Tallapoosa Group and/or limit deliveries to 6 percent hourly entitlement rights. The limitation of interruptible capacity is supposed to remain in place until further notice

As reported by the Energy Information Agency