Canadian natural gas rose after confidence among U.S. consumers grew more than forecast in May, a signal that industrial gas use is poised to increase.
The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 72.4, a three-month high, from a final reading of 69.8 in April, the group reported today. The consumer-price index rose 0.4. percent in April, matching the median forecast of economists surveyed by Bloomberg.
“The economic fundamentals are improving,” said Jason Schenker, an economist and president of Prestige Economics in Austin, Texas. “That support could easily be breached by a seasonal slump in demand.”
Alberta gas for June delivery rose 3 cents to C$3.52 per gigajoule ($3.44 per million British thermal units) as of noon New York time, according to NGX, a Canadian Internet market. Gas traded on the exchange goes to users in Canada and the U.S. and is priced on TransCanada Corp.’s Alberta system.
Natural gas for June delivery on the New York Mercantile Exchange fell 3.4 cents to $4.16 per million Btu.
Volume on TransCanada’s Alberta system, which collects the output of most of the nation’s gas wells, was 16 billion cubic feet as of 11 a.m. in New York, 198 million below its target level.
Gas was flowing at a daily rate of 2.89 billion cubic feet at Empress, Alberta, where the fuel is transferred to TransCanada’s main line.
At McNeil, Saskatchewan, where gas is transferred to the Northern Border Pipeline for shipment to the Chicago area, the daily flow rate was 1.795 billion cubic feet.
Available capacity on TransCanada’s British Columbia system at Kingsgate was 1.49 billion cubic feet. The system was forecast to carry 1.42 billion cubic feet today, about 49 percent of its capacity of 2.9 billion.
The volume on Spectra Energy’s British Columbia system, which gathers the fuel in northeastern British Columbia for delivery to Vancouver and the Pacific Northwest, totaled 2.77 billion cubic feet at 10:50 a.m.
Source: www.bloomberg.com
The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 72.4, a three-month high, from a final reading of 69.8 in April, the group reported today. The consumer-price index rose 0.4. percent in April, matching the median forecast of economists surveyed by Bloomberg.
“The economic fundamentals are improving,” said Jason Schenker, an economist and president of Prestige Economics in Austin, Texas. “That support could easily be breached by a seasonal slump in demand.”
Alberta gas for June delivery rose 3 cents to C$3.52 per gigajoule ($3.44 per million British thermal units) as of noon New York time, according to NGX, a Canadian Internet market. Gas traded on the exchange goes to users in Canada and the U.S. and is priced on TransCanada Corp.’s Alberta system.
Natural gas for June delivery on the New York Mercantile Exchange fell 3.4 cents to $4.16 per million Btu.
Volume on TransCanada’s Alberta system, which collects the output of most of the nation’s gas wells, was 16 billion cubic feet as of 11 a.m. in New York, 198 million below its target level.
Gas was flowing at a daily rate of 2.89 billion cubic feet at Empress, Alberta, where the fuel is transferred to TransCanada’s main line.
At McNeil, Saskatchewan, where gas is transferred to the Northern Border Pipeline for shipment to the Chicago area, the daily flow rate was 1.795 billion cubic feet.
Available capacity on TransCanada’s British Columbia system at Kingsgate was 1.49 billion cubic feet. The system was forecast to carry 1.42 billion cubic feet today, about 49 percent of its capacity of 2.9 billion.
The volume on Spectra Energy’s British Columbia system, which gathers the fuel in northeastern British Columbia for delivery to Vancouver and the Pacific Northwest, totaled 2.77 billion cubic feet at 10:50 a.m.
Source: www.bloomberg.com
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