Natural gas futures halted a two-day slide in New York as forecasts showed hotter weather that would spur power-plant demand before easing next week.
Canadian natural gas traded at its strongest price against U.S. gas in nearly two months as TransCanada Corp. lowered short-term tolls on the country’s largest natural gas pipeline.
Canadian natural gas prices rose to the highest level in more than two years as frigid weather flooding the U.S. Midwest boosted heating demand.
The following is a selection of the most important news affecting the oil market.
Natural gas futures fell the most in seven months in New York after government reports showed bulging U.S. inventories and rising production.
Canadian natural gas fell as nuclear power plants came back into service in the U.S. following seasonal maintenance, cutting demand for power generation from other fuels.
Canadian light crude strengthened for a third day on speculation that abnormally cold weather in the U.S. would disrupt competing oil supplies.
"This is the latest round of big numbers from the Marcellus."
- Martin King on Jul 14, 2014