The global economic depression caught up with commodity exchange operators in late 2008 as evidenced by the 4Q2008 net income reductions reported by rivals Atlanta-based IntercontinentalExchange Inc. (ICE) and Chicago-based CME Group.
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Nymex Sets Exchangewide Volume Record in 2006
Business was booming in the trading exchange market in 2006 as evidenced by volume records from some of the major energy exchanges. Following IntercontinentalExchange’s (ICE) record volume announcement earlier in the month, the New York Mercantile Exchange Inc. (Nymex) announced last Tuesday that it set an annual total volume record of 276,152,326 contracts in 2006, crushing the previous record of 204,610,365 contracts set in 2005.
Nymex Sets Exchangewide Volume Record in 2006
Business was booming in the trading exchange market in 2006 as evidenced by volume records from some of the major energy exchanges. Following IntercontinentalExchange’s (ICE) record volume announcement last week, the New York Mercantile Exchange Inc. (Nymex) announced Tuesday that it set an annual total volume record of 276,152,326 contracts in 2006, crushing the previous record of 204,610,365 contracts set in 2005.
Natural Gas Futures in ‘Wait and See’ Mode; July Drops 16 Cents
With all eyes on the significant storage surplus, summer temperatures for the nation and the potential for hurricanes in the Atlantic, the natural gas futures market is at a crossroads, as evidenced by the prompt month’s recent directionally challenged trading pattern. After gapping lower at the open Monday, July natural gas reached both the day’s high of $6.600 and its low of $6.410 in morning trading and spent the rest of the session bouncing between the two before settling at $6.463, down 16 cents on the day.
Producers Continue to Support Mackenzie Development
Some Canadian natural gas producers evidenced continued confidence the stalled Mackenzie Gas Pipeline will be built, putting up C$58 million (US$46.4 million) last week for new drilling rights in the central Mackenzie Valley.
Producers Continue to Support Mackenzie Development
Some Canadian natural gas producers evidenced continued confidence the stalled Mackenzie Gas Pipeline will be built, putting up C$58 million (US$46.4 million) last week for new drilling rights in the central Mackenzie Valley.
Reviving Natural Gas Market Evidenced in Attendees for GasMart 2004 in May
The natural gas market is back on track and buyers and sellers are headed for GasMart 2004 to talk about the latest market issues, make new contacts and reestablish old ones in Denver May 17-19.
Reviving Natural Gas Market Evidenced in Attendees for GasMart 2004 in May
The natural gas market is back on track and buyers and sellers are headed for GasMart 2004 to talk about the latest market issues, make new contacts and reestablish old ones in Denver May 17-19.
Despite Drilling Boom, Early 3Q Results Show Gas Production Down
As evidenced in the third quarter reports from both majors and independents in recent days, domestic gas production is weakening as natural gas prices remain low. Even though third quarter production levels are “normally very weak,” analyst Thomas Driscoll said levels on average are down more than expected from comparable periods a year ago, and the levels into the fourth quarter and 2002 “are likely to suffer…as a result of high inventory levels and weak demand.”
Industry Briefs
Utilities continue to struggle with high commodity prices as evidenced most recently on Friday when the Public Service Electric and Gas Co. (PSE&G) filed a petition with the Board of Public Utilities (BPU) requesting an increase in gas base rates of $171 million for gas delivery service. The requested increase would result in an overall gas revenue increase of 7.06% to reflect current costs. PSE&G last filed for an increase in base rates in November 1991. PSE&G said that present gas rates will remain in effect until new rates are approved by the BPU. PSE&G is New Jersey’s oldest and largest regulated gas and electric delivery utility, serving 3.5 million customers.