Everything

Giving back almost everything gained on Monday, June natural gas futures on Tuesday traded between $6.31 and $6.47 before settling 5.8 cents lower on the day at $6.349. The settle lower was significant in the fact that trading on Tuesday saw somewhat of a divergence between natural gas futures and petroleum futures.

Loews Corp., a holding company whose far reaching businesses engage in everything from cigarette sales to hotel operations, will pay Entergy-Koch LP $1.136 billion for Gulf South Pipeline. Subsidiary Texas Gas Transmission LLC (TGT) will take over operations of the 8,000-mile natural gas pipeline, which transports 2 Bcf/d and provides a total working gas storage capacity of 68.5 Bcf.

Loews Corp., a holding company whose far reaching businesses engage in everything from cigarette sales to hotel operations, will pay Entergy-Koch LP $1.136 billion for Gulf South Pipeline. Subsidiary Texas Gas Transmission LLC (TGT) will take over operations of the 8,000-mile natural gas pipeline, which transports 2 Bcf/d and provides a total working gas storage capacity of 68.5 Bcf.

Loews Corp., a holding company whose far reaching businesses engage in everything from cigarette sales to hotel operations, will pay Entergy-Koch LP $1.136 billion for Gulf South Pipeline. Subsidiary Texas Gas Transmission LLC (TGT) will take over operations of the 8,000-mile natural gas pipeline, which transports 2 Bcf/d and provides a total working gas storage capacity of 68.5 Bcf.

In the ever shrinking world of electronic energy exchanges, the bottom line remains that e-business is still business, according to a panel of B2B executives speaking last week at NGI’s GasMart/Power 2001 in Tampa. Altra Technologies’ Dixie Barrett, Intercontinental Exchange’s Rafael Pirutinsky and New York Mercantile Exchange’s Tom Martin told the audience that consolidation within their industry will continue, but the marketplace will only end up stronger.

Rather than “blaming just about everyone and everything” for thereliability problems on the electric transmission grid, SenateEnergy Chairman Frank Murkowski (R-AK) last week urged EnergySecretary Bill Richardson to take “immediate and meaningful action”to address the situation in the short term, while Congress tries towork out a longer term solution.

Rather than “blaming just about everyone and everything” for thereliability problems of the electric transmission grid, SenateEnergy Chairman Frank Murkowski (R-AK) urged Energy Secretary BillRichardson to take “immediate and meaningful action” to address thesituation in the short term, while Congress tries to work out alonger term solution.

Prices responded accordingly Tuesday as just about everythingturned bullish for the spot gas market – chilly to very coldweather almost everywhere, rising futures in three importantcategories (gas, heating oil and crude oil), and expectations of alarge withdrawal volume in this afternoon’s storage report.

Fresh news means everything in commodities trading and naturalgas traders had their choice of bearish factors to point toyesterday. The one-two combo of the storage surplus and coolerweather put sellers in the driver’s seat once again, and theyreacted swiftly Wednesday evening by pushing the market lower inthe after hours Access trading session. The July contract Thursday,tumbled 10.5 cents to finish at $2.355 in heavy trading.