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Drag

Many Double-Digit Gains Seen in Monday-Only Flows

With no drag from a weekend load slump playing a role, colder weather due in the Northeast and Midwest early this week, and the delayed support of a bullish storage report and its accompanying screen run-up Thursday, the March aftermarket got off to an impressively strong launch Friday.

March 1, 2004

Weakness in Crude Oil, U.S. Economy Drag Natural Gas Futures Lower

In sympathy with the largest single-day drop in crude oil prices since the Gulf War, and amid continued fears that a global recession is inevitable, natural gas futures funneled to new 30-month lows Monday, as non-commercial traders extended their short holdings in a market notably devoid of buyers. The October contract was the hardest hit, tumbling 9% or 19.3 cents to close at $1.91. The October contract is set to expire at 2:45 p.m. (EDT) Wednesday, an hour later than other daily settlements this week, in an effort to accommodate the 2:00 p.m. (EDT) release of fresh storage data.

September 25, 2001

Winter Weather, Soaring Futures, Drag Cash Higher

Despite a high weekly storage injection of 36 Bcf last weekcompared to a five year average build of only 13 Bcf, according tothe American Gas Association (AGA)’s weekly report yesterday, thefutures market soared much higher and yanked cash prices up withit. Most daily cash price gains ranged from 20 cents to 35 cents.

November 9, 2000

Lack of Weather, Softer Futures Drag Cash Lower

This week’s moderate bull market came to an end for the mostpart Wednesday as cash prices bowed under the weight of decliningfutures to range from flat to down a little more than a nickel.

March 9, 2000

Georgia Efforts Drag on SCANA’s ’99 Profit

Achieving a vast amount of success in Georgia’s newlyderegulated retail gas industry came at a significant price, SCANAsaid last week as the South Carolina-based company reported 1999earnings of $179 million, or $1.73/share of common stock, down from$223 million, or $2.12/share in 1998.

February 14, 2000

Columbia’s Marketing Woes Drag on Earnings

Despite large increases in both operating income and income fromcontinuing operations, Columbia Energy Group’s 1999 bottom lineregressed from 1998, as a hostile takeover bid from NiSourcecombined with severe losses caused by Columbia’s marketingoperations to undermine the company’s overall performance.

January 26, 2000

PG&E Earnings Continue to Drag in Energy Trading, Services

Despite continued expansion of revenues in energy trading andservices, PG&E Corp. reported last week continued depressedearnings results in those two areas, along with red ink in itsTexas operations. Its traditional Pacific Northwest interstatepipeline, combination utility and merchant power plant businessesall continue to be its money-makers, although down or about thesame compared to similar three-month and nine-month results lastyear.

October 18, 1999

Screen, Cool Weather Drag Prices Way Down

Gas buyers certainly had no complaints about “storm hype”keeping prices artificially high Tuesday. Even with one of the mostdangerous hurricanes of the century pounding the Bahamas andbearing down on the southeastern U.S., its relative lack of threatto Gulf of Mexico production did nothing to avert cash price dropsof a dime or more-sometimes much more-in nearly every market. Onlythe Northern California points (Malin and PG&E citygate)managed to keep their declines in single digits, and even they fellalmost a dime.

September 15, 1999

Gas Regulators Get Praise, Advice from IEA

While efforts to deregulate the electric industry at both thestate and federal level drag on, at least one internationalobserver found U.S. gas deregulation worthy of praise. RobertPriddle, executive director of the International Energy Agency(IEA) in Paris, told reporters at the 17th Congress of the WorldEnergy Council that the United States leads the world in gascompetition.

September 21, 1998

U.S. Ahead in Gas Deregulation, IEA’s Priddle Says

While efforts to deregulate the electric industry at both thestate and federal level drag on, at least one internationalobserver found U.S. gas deregulation worthy of praise. RobertPriddle, executive director of the International Energy Agency(IEA) in Paris, told reporters at the 17th Congress of the WorldEnergy Council that the United States leads the world in gascompetition. Priddle said he is heartened by the Federal EnergyRegulatory Commission’s (FERC) decision to review pipeline rateregulation. Priddle gave his talk to highlight findings of theIEA’s report card on U.S. energy policy. The findings stem from a1998 review and are published by the agency in a 152-page book.

September 16, 1998
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