The cash market for the concluding days of November hadsomething in common with the famed cliff divers of Acapulco:breathtakingly steep plunges. “You better hope you sold your gasearly” Wednesday because there was almost no demand for the longholiday weekend, a marketer said, “and you just can’t cook thoseThanksgiving turkeys long enough [in gas ovens] to boost demand.”
Days
Articles from Days
December Futures Recoup a Fraction of Prior Value
After a tempest of trading activity during the first three daysof the week, the futures market settled down Thursday to trademostly sideways amid light volume. Moderate trade-buying below the$2.32 level was the most notable feature of the day. But that wasenough for December to post an up-day-marked by higher highs andhigher lows-to start off its tenure as prompt month. The contractsettled at $2.348, a 2.4 cent gain for the session.
Eastern Enterprises Buys Another LDC, Colonial Gas
At Massachusetts’ Eastern Enterprises, “consolidation” is theword of the day, and of the days to come. Fresh from itsacquisition of Essex County Gas, the Boston Gas parent Monday saidit will buy nearby Colonial Gas Co. at a 27% premium to Colonial’sFriday closing price.
All Markets Rising for a Change, But Why?
For the first time in several trading days, there was nodivergence between Eastern and Western market directions Wednesday.It was up, up and away all around as nearly all points registeredgains of around a dime or higher.
FPL, FGT Alliance Anchors Florida Pipeline Expansion
Where there’s new power generation these days, there usually isnatural gas. And Florida will add almost 11,000 MW of power overthe next eight years, according to a recent report by the state’sutilities. Power demand is soaring in the state, particularly inthe southwestern portion, where currently there are no gaspipelines. That’s going to change soon, however.
Trade Groups Ask for Delay on NOPR, NOI Comments
Six industry trade associations will ask FERC today to extend by74 days the deadline for industry comments on the major notice ofproposed rulemaking (NOPR) and notice of inquiry (NOI) that wereissued in July.
Trade Groups May Ask for Delay on NOPR, NOI Comments
The four gas trade associations are seriously considering askingFERC this week to extend by 74 days the deadline for industrycomments on the major notice of proposed rulemaking (NOPR) andnotice of inquiry (NOI) that were issued in July.
Subdued Futures Trading Ahead of AGA Data
Following two days of active trading and sizable price swingsthe futures market traded quietly to either side of unchanged onWednesday. September futures closed at $1.819, managing a 0.7-centgain on the day.
FERC’s Gas Options Plan Elusive
As of last Friday, 35 days away from the Federal EnergyRegulatory Commission’s August recess and counting….there wasstill no official sign of its promised plan to cure the gas marketof its ills. But rumors abounded that the alleged “gas options”paper has been circulated to pipelines and producers and isundergoing a variety of alterations. There also was one report thatthe plan might not, after all, see daylight until after the recess.
Where’s the Expiration Related Nymex Volatility?
The June Nymex natural gas contract failed to show thevolatility normally associated with the final trading days of a gascontract by limiting itself to a narrow five cent trading range onTuesday. This tight trading band held June to a slight 0.1 centgain to $2.095.