Believe

What several sources believe may be an extended period of slow, often featureless and softer cash trading was launched Tuesday with all points on the same falling price page. Trends were more consistent across the entire market, with a large majority of points registering declines from a little less than a dime to about 15 cents. More modest drops tended to occur in non-Permian Basin western markets, while larger losses were recorded in the Northeast.

The American Public Gas Associaton (APGA) says the recent falloff in natural gas prices leads it to believe that more than the traditional supply-and-demand forces were at work last winter in driving up prices.

The American Public Gas Associaton (APGA) says the recent falloff in natural gas prices leads it to believe that more than the traditional supply-and-demand forces were at work last winter in driving up prices.

Forecasters expecting the long standing storage deficit compared to last year’s levels to be wiped out on Wednesday got their wish. With the winter gas futures months holding attractive premiums for storage arbitrage and gas demand apparently reduced because of high winter prices, an unprecedented series of weekly storage injections over the past five weeks has led to a year-to-year surplus for the first time since January 2000.

A majority of those surveyed believe that California’s troubled energy situation will continue to deteriorate in the short-term and that the state’s ongoing woes will prove to be a drag on the national economy, according to Americans for Balanced Energy Choices (ABEC).

A majority of Americans who responded to a recent nationwide poll believe that California’s troubled energy situation will continue to deteriorate in the short-term and that the state’s ongoing woes will prove to be a drag on the national economy, according to Americans for Balanced Energy Choices (ABEC).

Prices tended to flatten out in most cases Thursday, and severalsources believe that barring any drastic weather changes, themarket is due for more sideways trading for at least the next fewdays.

The Bank of New York, Prebon Yamane and Amerex announced a newconcept for the energy industry that they believe willsignificantly boost market liquidity and efficiency. They haveformed a new joint venture called EnergyClear, which will createthe first industry-sponsored clearinghouse to offer comparison,netting and settlement of wholesale energy contracts for theover-the-counter (OTC) marketplace.

Investigators believe a recent line break on the NOVA GasTransmission Ltd. (NGTL) system was caused by stress corrosioncracking (SCC). The line break occurred Feb. 7 about 18 miles northof Highway 11 and 45 miles southwest of Drayton Valley. There wereno injuries. The pipeline involved in the line break wasconstructed in 1980. “We will take the data and evidence wegathered at the site and prepare a more detailed analysis toconfirm our preliminary assessment,” said John Walker, vicepresident plant maintenance.