Amounts

Prices rose by double-digit amounts at all points but one Monday. Colder weather was returning in most of the East and the previous Friday’s 34.9-cent jump by February futures provided additional support for Monday’s cash market. The return of industrial load from its typical weekend hiatus also played a role in the price strength.

FERC has its doubts about granting Franklin Resources Inc. blanket authority to buy unlimited amounts of securities in U.S. traded utilities for its clients, the Commission revealed, recently labeling the investment firm’s application deficient and sending the company, generally known as Franklin Templeton Investments, a detailed and extensive list of questions to be answered (EC08-111).

FERC has its doubts about granting Franklin Resources Inc. blanket authority to buy unlimited amounts of securities in U.S. traded utilities for its clients, the Commission revealed, recently labeling the investment firm’s application deficient and sending the company, generally known as Franklin Templeton Investments, a detailed and extensive list of questions to be answered (EC08-111).

Northeast citygates soaring by multi-dollar amounts were way out in front of price rebounds at nearly all points Friday. Winter storms were already under way in the Northeast and Midwest (to be followed by new ones during the weekend), a fresh storm was due Saturday in the already frigid Pacific Northwest, and the South could expect one more day of moderate conditions before a cold front brought a return of wintry weather Sunday.

U.S. natural gas producers are touting a variety of innovative systems they use to recycle the huge amounts of water needed to hydraulically fracture their unconventional wells in the face of mounting pressure from environmental groups and the threat of more regulation.

In what amounts to a largely symbolic gesture, the elected Santa Barbara County Board of Supervisors voted 3-2 Tuesday night to support a resumption of drilling off its Southern California coast. The board agreed to write to Gov. Arnold Schwarzenegger urging him to reverse the state’s decades-long opposition to any additional drilling.

Driven largely by a futures plunge of 60 cents a day earlier, cash prices fell by large amounts at all but one point Tuesday. Slightly diminishing cooling load in several areas and the growing certainty that Hurricane Bertha will remain a nonevent for Gulf of Mexico production added to the bearish mood.

Apparently in acknowledgment that weather-based load is fairly modest outside the West, prices fell (mostly by small amounts) at a majority of points Thursday. High heat levels west and south of the Rockies resulted in San Juan Basin spikes and more moderate gains in some other western locations.

As expected, the preceding day’s 41.5-cent dive by May futures had a highly negative impact on Friday’s cash prices, which fell by double-digit amounts everywhere except the Florida citygate. The spread of moderate springtime weather into nearly all of the U.S. except along sections of the Canadian border and the decline of industrial load that accompanies a weekend market were other bearish factors.