Futures Finish Higher In Choppy Trading Session

Fueled by the first real blast of warm air of the cooling season, natural gas futures prices rallied and retreated Monday as traders alleviated oversold conditions and then turned and took profits. Local traders were active in the price movement, adding liquidity and volatility to the gas pit at Nymex.

June 24, 2003

Northeast May Stay Firm; Softness Expected Elsewhere

Cash prices continued to be propelled upward Tuesday by an unseasonably late blast of winter weather in the northeastern quadrant of the U.S. that even sent a touch of mild morning chill far enough south to be felt by traders in Houston.

April 9, 2003

Prices Mildly Firmer; Limited Impact From CIG Blast

In another trading day characterized as quiet by sources, cash numbers were about flat to nearly 30 cents higher Monday. However, only CIG achieved the approximate 30-cent increase; other gains were capped at around a dime, and a majority of points were up by about a nickel or less.

March 25, 2003

Weather, Punxsutawney Phil Push Prices Up; ANR Blast Inconsequential

The prospect for renewed cold weather in the Midwest and Northeast early this week resulted in across-the-board cash increases ranging from about a nickel to 45 cents Monday. Most gains were between a dime and 30 cents.

February 4, 2003

Traders Play It Safe Friday; Futures Climb 2.2 Cents

Caught between forecasts calling for another blast of cold air and its seasonal inclination to move lower, natural gas futures shuffled sideways Friday as neither bull nor bear could get much of anything going. The market finished mixed, with gains in the front months contrasting with losses in the back of the strip. The new prompt contract March finished at $5.605, up 2.2 cents for the day and 14 cents higher for the week. Weighed down by losses in the winter 2003/04 contracts, the 12-month strip advanced only 1.1 cents to $5.016. At just 66,757, estimated volume was light and reflected the market’s lack of direction.

February 3, 2003

Deep Freeze Triggers New Gas, Power Demand Records

The widespread blast of Arctic cold put a strain on natural gas and electricity distribution across the eastern third of the United States last week as consumers cranked up their heat to counteract single-digit temperatures in many locations. Utilities as far south as Florida, where temperatures dipped to the lowest level in more than a decade, warned consumers to take precautions and conserve energy as delivery systems were tested and old records were broken for gas and power sendout.

January 27, 2003

Winter Freeze Has LDCs Setting New Gas, Power Demand Records

The extended arctic cold blast has put a strain on natural gas and electricity local distribution companies (LDC) across the eastern third of the United States as consumers crank up their heat to counteract single-digit temperatures in many locations. Many LDCs are taking precautions as old records are broken for gas sendout and winter power demand.

January 24, 2003

Analyst: Cold Blast Could Linger Forcing Gas Bills Higher

With the arrival of a frigid arctic air mass in the East and indications that it will stick around for a while, natural gas consumers should expect “a material increase” from their recent “eye-popping” December and January heating bills, according to UBS Warburg analyst Ron Barone.

January 17, 2003

Futures Test 21-Month Highs as Frigid Temperatures Arrive in Eastern U.S.

In reaction to the arrival of the much-anticipated blast of cold air in the eastern half of the country, natural gas futures rocketed higher Wednesday as early short-covering by funds and commercials triggered waves of buy-stop-loss orders. By virtue of its $5.50 high trade, February notched a new all-time contract top and traded within 3 cents of the 21-month prompt-month high made by the January contract on Dec. 13. It closed at $5.43, up 32.3 cents for the session.

January 16, 2003

Ontario Puts Breaks on Deregulation; Retailers Blast Fixed-Rate Plan

Ontario Premier Ernie Eves last week put the brakes on the province’s newborn competitive power market and proposed a rate fixing plan some critics said was eerily similar to what happened in California, trigging blackouts and utility bankruptcies.

November 18, 2002