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US gas futures end down for third day on milder weather  NEW YORK: US natural gas futures slid about 1 percent on Thursday, extending losses for a third straight trading day due to moderating weather forecasts.   But prices remained above Wednesday's three-month spot chart low.   A huge 30-cent, or 9 percent, drop in prices on Wednesday was blamed on algorithmic, or computer-driven, trading.   Still, prices have continued to struggle this week amid the milder weather outlook, which should curb heating needs and lessen demand for gas.   "The weather continues to have a negative impact on natural gas prices, with the eastern half of the US projected to experience above-normal temperatures at least through the first half of January and possibly beyond," said Energy Management Institute's Dominick Chirichella.   Front-month February natural gas futures on the New York Mercantile Exchange slid 3.5 cents, or a little more than 1 percent, to settle at $3.198 per million British thermal units, after trading between $3.164 and $3.236.   Other months ended lower ...

US fines Transocean $1.4 bn over Gulf oil disaster  WASHINGTON: The United States hit drilling rig operator Transocean with $1.4 billion in criminal and civil fines Thursday for its role in the 2010 Deepwater Horizon disaster in the Gulf of Mexico.   Transocean agreed to plead guilty to violating the Clean Water Act in the disaster, in which a blowout on its drilling rig killed 11 and sent some 4.9 million barrels of oil into the Gulf, the Justice Department announced.   The blowout, one of the country's ...
Crude oil surges on US fiscal-cliff news  NEW YORK: Crude oil prices soared Wednesday on news the US Congress passed a fiscal package that prevents most of the automatic tax hikes expected to jolt the world's biggest oil consumer into recession.   New York's main contract, light sweet crude for delivery in February, jumped $1.30 from Monday to close at $93.12 a barrel, its highest close since September 18.   In London trading, Brent North Sea crude for February gained $1.36 at $112.47 a barrel.   After bitter ...
US spot natural gas prices down on milder weather  NEW YORK: US spot natural gas prices fell across the board on Wednesday as a front of milder weather in major consuming regions was expected to dampen heating demand in the coming days.   Prices moved higher earlier in the week, with some areas in the Northeast hitting two year highs due to the cold weather, before retreating on Wednesday after forecasts of above-normal temperatures in the 6- to 10-day time frame.   Gas for delivery on Thursday at ...
US natgas futures down 4pc NEW YORK: US natural gas futures slid about 4 percent early on Wednesday, but recovered from a steep drop in overnight electronic trade that brought the front month contract to its lowest mark in over three months.   Most traders attributed the more than 30-cent, 9-percent trading range to an algorithmic, or electronic computer-driven trade.   But most expect little upside to prices, with long-term weather outlooks still calling for above-normal temperatures for much of the nation, curbing heating ...
PBF Energy to end offtake deal with Morgan Stanley HOUSTON: Independent US refiner PBF Energy in June will end its refined product offtake agreements with Morgan Stanley and sell fuels directly from its East Coast refineries, the company said on Monday.   Those agreements with Morgan Stanley Capital Group Inc cover the sales of refined products from PBF Energy's US East Coast refineries in Delaware and New Jersey.   Under the agreements, Morgan Stanley markets PBF Energy's fuels. Morgan Stanley's physical trading activity in key US markets has ...
US spot natural gas prices mixed; NE up on cold weather  NEW YORK: US spot natural gas prices were mixed on Monday, but the Northeast saw strong gains as cold weather continued to drive heating demand.   Temperatures in Boston, New York and Chicago remained in the 30s Fahrenheit (near zero Celsius) on Monday and were expected to fall further as the week goes on, forecasters said, helping to push prices in some areas to two year highs.   In New York, a large consuming region with supply constraints that ...


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