Days

The Federal Energy Regulatory Commission (FERC) has extended the response time to July 12 on a show cause order issued to Total Gas & Power North America Inc. (TGPNA) for alleged market manipulation. The show cause order was issued April 28 and had included just 30 days to respond. TGPNA is challenging the FERC’s jurisdiction to pursue the case at all in the U.S. District Court for the Western District of Texas (see Daily GPI, May 3). The company had asked for an extension until the later of 45 days after the federal district court issues an order resolving the threshold jurisdictional issues or 60 days beyond the current due date. The Commission responded with the July 12 date and said the Office of Enforcement staff shall have a 45 day extension of time to file a reply with the Commission (making the reply due 75 days after respondents’ answer is filed).

The Federal Energy Regulatory Commission (FERC) has extended the response time to July 12 on a show cause order issued to Total Gas & Power North America Inc. (TGPNA) for alleged market manipulation. The show cause order was issued April 28 and had included just 30 days to respond. TGPNA is challenging the FERC’s jurisdiction to pursue the case at all in the U.S. District Court for the Western District of Texas (see Daily GPI, May 3). The company had asked for an extension until the later of 45 days after the federal district court issues an order resolving the threshold jurisdictional issues or 60 days beyond the current due date. The Commission responded with the July 12 date and said the Office of Enforcement staff shall have a 45 day extension of time to file a reply with the Commission (making the reply due 75 days after respondents’ answer is filed).

February natural gas is expected to open 15 cents higher Thursday morning at $2.36 as traders factor in additional cooling and a high-risk storage report. Overnight oil markets were mixed.

August natural gas is expected to open unchanged at $2.88 Wednesday morning as analysts suggest that a short-covering rally could send prices to, if not past, the $3 threshold. Overnight oil markets were lower.

February natural gas is expected to open 8 cents higher Tuesday morning at $2.87 as near-term weather forecasts turn slightly cooler and timing issues continue. Overnight oil markets continued their steep descent.

November natural gas is seen opening 2 cents higher Thursday morning at $3.87 as traders brace themselves for what is anticipated to be another government report showing a bin-busting addition to natural gas inventories. Overnight oil markets slumped.

October natural gas is expected to open 5 cents higher Monday morning at $3.91 as traders balance a steady technical picture with near-term risk for lower prices. Overnight oil markets fell.

October natural gas is expected to open a penny lower Wednesday morning at $3.97 as traders see no changes to near-term temperature outlooks and anticipate a plump addition to storage inventories. Overnight oil markets were mixed.

September natural gas is set to open 4 cents lower Wednesday morning at $3.84 as prices remain confined to a trading range and traders factor in weather reports showing a cooling pattern emerging later within the next 20 days. Overnight oil markets rose.