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Beaten-up natural gas enters September on shaky footing

Market Watch -- Natural-gas futures, wrapping up their worst month in more than two years, are entering the historically weak month of September dogged by confusion over production.

Prices for the most active contract have lost nearly 23% in August, as investors sold off the futures on estimates of abundant gas output.

Natural gas for October delivery was up less than a penny to settle at $3.82 per million British thermal units after flirting with losses in morning trading.

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Submitted Sep 01, 2010 By: DocWyeth

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honda0105 Champion Author Tallahassee Posts:15,290 Points:1,146,200 Joined:Nov 2008	Message Posted: Sep 2, 2010 5:13:15 AM Ignore honda0105 Report Abuse this says it all: " as investors sold off the futures on estimates of abundant gas output." Any more questions as to why oil and NG trading / selling much higher than they needed to be?
ashishpa All-Star Author St. Louis Posts:951 Points:217,540 Joined:Feb 2010	Message Posted: Sep 1, 2010 10:58:52 PM Ignore ashishpa Report Abuse Good for all as far as prices lay low
honda0105 Champion Author Tallahassee Posts:15,290 Points:1,146,200 Joined:Nov 2008	Message Posted: Sep 1, 2010 10:00:01 PM Ignore honda0105 Report Abuse NJColt: why 2012 (Mayan prophecy?) and why 10% only?
able2ru Champion Author Little Rock Posts:2,355 Points:622,320 Joined:Mar 2005	Message Posted: Sep 1, 2010 8:40:55 PM Ignore able2ru Report Abuse hard to feel sorry for an industry that gleefully robbed america from 2008 on and still looking for ways to drive the price back up. hard to care about an industry that cares more about making rich people even richer while making people unable to afford their overpriced product and freeze in cold homes all winter. Sorry Big Oil, no crocodile tears here.
Doc7696 All-Star Author Montana Posts:799 Points:267,810 Joined:Oct 2009	Message Posted: Sep 1, 2010 8:39:46 PM Ignore Doc7696 Report Abuse OOOOOh boy..
OGW Champion Author London Posts:3,357 Points:1,116,855 Joined:Sep 2005	Message Posted: Sep 1, 2010 8:39:45 PM Ignore OGW Report Abuse They will have the price up by the time we need it to heat our homes in the winter.
schatzila Champion Author Los Angeles Posts:2,728 Points:577,900 Joined:Jun 2010	Message Posted: Sep 1, 2010 8:33:47 PM Ignore schatzila Report Abuse I like the sound of cheap gas.
woody12345 Champion Author Massachusetts Posts:2,164 Points:511,710 Joined:Aug 2008	Message Posted: Sep 1, 2010 8:27:02 PM Ignore woody12345 Report Abuse oh dear oh dear
heysailor Champion Author Pittsburgh Posts:7,251 Points:1,871,910 Joined:Mar 2006	Message Posted: Sep 1, 2010 8:20:08 PM Ignore heysailor Report Abuse Guess I'll be able to afford to heat my house. Unless the speculators have their way.
uptherefiners Champion Author Chicago Posts:3,333 Points:686,920 Joined:Jun 2006	Message Posted: Sep 1, 2010 8:17:50 PM Ignore uptherefiners Report Abuse snifle
salog Champion Author Columbia Posts:5,806 Points:1,272,980 Joined:Oct 2006	Message Posted: Sep 1, 2010 8:15:39 PM Ignore salog Report Abuse hope the speculators go broke
4warned Champion Author Michigan Posts:5,522 Points:1,743,815 Joined:Nov 2006	Message Posted: Sep 1, 2010 8:14:31 PM Ignore 4warned Report Abuse We could use a break this winter. I hope the trend continues.
aldog365 Champion Author Nashville Posts:3,160 Points:1,561,660 Joined:Aug 2005	Message Posted: Sep 1, 2010 8:14:18 PM Ignore aldog365 Report Abuse Poor guys.That commission check is looking alittle smaller.
must87searcher Champion Author Maryland Posts:6,684 Points:1,319,225 Joined:Apr 2008	Message Posted: Sep 1, 2010 8:13:00 PM Ignore must87searcher Report Abuse The idea of the increase of the usage of natural gas was so involved in advertising with a positve look, that there was going to be a higher possiblity of not being all that effective. Other nations, like South Korea, use a lot of natural gas, becuase it is the about the only major fossil fuel they can get there hands on. It has been a while and we still don't use such a large amount of it than what was planed.
swrestler Champion Author Grand Rapids Posts:3,800 Points:1,109,150 Joined:Oct 2008	Message Posted: Sep 1, 2010 8:11:57 PM Ignore swrestler Report Abuse I hope this means cheaper gas bills this Winter
RedRam2005 Champion Author San Antonio Posts:5,721 Points:1,062,185 Joined:Dec 2007	Message Posted: Sep 1, 2010 8:09:25 PM Ignore RedRam2005 Report Abuse Beaten up because the speculators could not get rich fast enough
my3sons Champion Author New York Posts:4,455 Points:1,506,535 Joined:Aug 2005	Message Posted: Sep 1, 2010 8:08:55 PM Ignore my3sons Report Abuse stop being greedy and lower prices already
POLELANE Champion Author Ohio Posts:7,148 Points:828,370 Joined:Mar 2008	Message Posted: Sep 1, 2010 8:07:49 PM Ignore POLELANE Report Abuse Where there is confusion; there is greater potential for profits.
no_monkey2002 Champion Author Tallahassee Posts:6,238 Points:1,625,750 Joined:Mar 2006	Message Posted: Sep 1, 2010 8:07:02 PM Ignore no_monkey2002 Report Abuse drill baby drill
Rednix Champion Author Miami Posts:3,909 Points:818,970 Joined:Jul 2009	Message Posted: Sep 1, 2010 8:02:02 PM Ignore Rednix Report Abuse Confusion can help the consumers.
scrounger Champion Author Vancouver Posts:9,636 Points:2,650,765 Joined:Mar 2003	Message Posted: Sep 1, 2010 8:00:50 PM Ignore scrounger Report Abuse hope the speculators lose their shirts
JoeKR Champion Author New Jersey Posts:7,268 Points:1,418,190 Joined:Feb 2006	Message Posted: Sep 1, 2010 8:00:45 PM Ignore JoeKR Report Abuse Seems a waste we're not using this usable, abundant and inexpensive fuel to displace gasoline until renewable energies are universal!
fuelconscious Champion Author Los Angeles Posts:2,082 Points:538,870 Joined:Jan 2008	Message Posted: Sep 1, 2010 8:00:28 PM Ignore fuelconscious Report Abuse This is sad news everyone, speculators and high powered executives are not making any money now !
SSchmidty Champion Author Illinois Posts:6,979 Points:1,328,460 Joined:Mar 2008	Message Posted: Sep 1, 2010 7:57:08 PM Ignore SSchmidty Report Abuse Just another non-renewable fossil fuel tanking ... has been getting less attention than pig-oil for a variety of reason. THIS was also being "pumped out of the gulf of mexico spill"
milespergallon Champion Author Illinois Posts:7,513 Points:1,483,290 Joined:Feb 2007	Message Posted: Sep 1, 2010 7:54:48 PM Ignore milespergallon Report Abuse I could not put anything clean here. Just leaving it at that!
dabuzman Champion Author Seattle Posts:4,399 Points:1,430,800 Joined:Apr 2006	Message Posted: Sep 1, 2010 7:51:56 PM Ignore dabuzman Report Abuse Aw give me a break. I don't feel sorry. You all asked for it, greedy !
DustyHorse Champion Author Virginia Posts:4,036 Points:982,340 Joined:Oct 2008	Message Posted: Sep 1, 2010 7:47:43 PM Ignore DustyHorse Report Abuse I feel so sorry for the commodities traders. NOT.
carlsonguitars Champion Author Portland Posts:4,641 Points:782,530 Joined:Jan 2008	Message Posted: Sep 1, 2010 7:47:09 PM Ignore carlsonguitars Report Abuse beaten up?!?!?! Summer months are poor for natural gas, but in addition to that, they charge WAY TOO MUCH for natural gas to begin with...... the only BEATEN UP entities are CUSTOMERS - when they get their bill!!!!!!!!
mmene Champion Author Houston Posts:4,347 Points:938,970 Joined:May 2008	Message Posted: Sep 1, 2010 7:44:38 PM Ignore mmene Report Abuse I am glad I use gas at home for cooking but I wish the US used a lot more natural gas. That would lower energy prices as well as cutting down OPEC oil imports.
jeskibuff Champion Author Tampa Posts:5,323 Points:988,360 Joined:May 2004	Message Posted: Sep 1, 2010 7:39:22 PM Ignore jeskibuff Report Abuse ex911 said: "I like my natural gas whole and un-beaten-up!" Well, you haven't lived until you've tried it sunnyside-up!
carefrey Champion Author Orlando Posts:3,377 Points:722,350 Joined:Sep 2009	Message Posted: Sep 1, 2010 7:29:35 PM Ignore carefrey Report Abuse When winter hits the prices wil rise.
matthwbar Champion Author Toledo Posts:2,085 Points:571,340 Joined:Jun 2007	Message Posted: Sep 1, 2010 7:24:41 PM Ignore matthwbar Report Abuse Ya hate to see a commodities trader go bust. Don't ya?
Beboper Champion Author Virginia Posts:6,382 Points:1,700,790 Joined:Oct 2005	Message Posted: Sep 1, 2010 7:23:54 PM Ignore Beboper Report Abuse let us see what happens when the cold weather comes
stevencr Champion Author Ohio Posts:3,312 Points:970,610 Joined:Mar 2009	Message Posted: Sep 1, 2010 7:18:06 PM Ignore stevencr Report Abuse That would be great if we had low natural gas prices and a mild winter.
ex911 Champion Author San Jose Posts:6,844 Points:1,339,770 Joined:Apr 2005	Message Posted: Sep 1, 2010 7:18:03 PM Ignore ex911 Report Abuse I like my natural gas whole and un-beaten-up!
danreino Champion Author Twin Cities Posts:6,297 Points:1,147,190 Joined:Mar 2008	Message Posted: Sep 1, 2010 7:13:07 PM Ignore danreino Report Abuse This is really good news before the coming winter heating season.
hank1326 Champion Author Los Angeles Posts:6,713 Points:1,284,305 Joined:Jun 2008	Message Posted: Sep 1, 2010 7:07:45 PM Ignore hank1326 Report Abuse With all the heavy taxes, good thing we don't have to worry about the winter heating bill here.
divebomber Champion Author Nebraska Posts:3,734 Points:1,349,315 Joined:Jun 2007	Message Posted: Sep 1, 2010 7:06:59 PM Ignore divebomber Report Abuse Watch the futures for natual gas fall through the floorboards and $$$$$$$ spiral down!
beachbumCA Champion Author Riverside Posts:10,459 Points:1,206,350 Joined:May 2008	Message Posted: Sep 1, 2010 7:02:07 PM Ignore beachbumCA Report Abuse The cold is not that far away. (not here in Southern California) Always beach time.
gasaholicMO Champion Author Missouri Posts:2,429 Points:472,860 Joined:Apr 2010	Message Posted: Sep 1, 2010 6:55:24 PM Ignore gasaholicMO Report Abuse Short term investors often get burnt speculating in energy.
CRAZYEDDIE2010 Veteran Author Ontario Posts:294 Points:204,185 Joined:Jul 2010	Message Posted: Sep 1, 2010 6:53:35 PM Ignore CRAZYEDDIE2010 Report Abuse I FEEL SO BAD FOR THEM. [LOL]
paulydel Champion Author Delaware Posts:6,810 Points:689,170 Joined:Jan 2008	Message Posted: Sep 1, 2010 6:52:16 PM Ignore paulydel Report Abuse To bad the other gas prices don't loose out.
bicycler Champion Author Ontario Posts:12,714 Points:2,211,295 Joined:May 2005	Message Posted: Sep 1, 2010 6:48:57 PM Ignore bicycler Report Abuse Again I wish that would in Ontario.
bama56 Champion Author Alabama Posts:1,860 Points:966,820 Joined:Nov 2008	Message Posted: Sep 1, 2010 6:39:54 PM Ignore bama56 Report Abuse good
MRED3 Champion Author Jacksonville Posts:3,626 Points:803,345 Joined:May 2009	Message Posted: Sep 1, 2010 6:36:14 PM Ignore MRED3 Report Abuse sounds like our stock market it is also on shake ground.
Romey08 Champion Author Virginia Posts:4,252 Points:1,028,850 Joined:Apr 2008	Message Posted: Sep 1, 2010 6:35:31 PM Ignore Romey08 Report Abuse Heating season prices should be lower for the winter
TheSnowstorm Champion Author Montreal Posts:6,832 Points:1,478,025 Joined:June 2005	Message Posted: Sep 1, 2010 6:29:51 PM Ignore TheSnowstorm Report Abuse But will the rate the consumer pays drop as well? Somehow, I doubt it.
mitchell6597 Champion Author New Hampshire Posts:2,573 Points:518,290 Joined:Apr 2010	Message Posted: Sep 1, 2010 6:27:58 PM Ignore mitchell6597 Report Abuse Sorry, but it's going to be 95 degrees here tomorrow, hard to worry about that now.
WilW Champion Author Atlanta Posts:9,885 Points:2,215,760 Joined:Aug 2004	Message Posted: Sep 1, 2010 6:21:51 PM Ignore WilW Report Abuse Lock in your fixed rate before September ends.
jwduke1 Champion Author Iowa Posts:13,870 Points:2,726,690 Joined:Apr 2004	Message Posted: Sep 1, 2010 6:14:07 PM Ignore jwduke1 Report Abuse Bet it will no be any cheaper to heat my home this winter!