June futures eased, to the dismay of market bulls who were hoping the contract would exhibit Friday’s strength and trade up to $8.23 Monday, or at least hold the psychologically important $8 technical support. instead, June settled at $7.913, down 3.1 cents, and July followed suit, dropping 4.3 cents to $8.091.
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Senate Dems to Press FERC on CA Price Relief
On the same day that he was handed the reins of the Senate Energy and Natural Resources Committee, Senator Jeff Bingaman (D-NM) said that bipartisan legislation directing FERC to set cost-based rates to ensure just and reasonable wholesale energy prices in California could get consideration from the panel within the next couple of weeks. Separately, newly-minted Senate Majority Leader Tom Daschle (D-SD) made it clear earlier this week that he stands ready to support such legislation if FERC falls short of meeting its just and reasonable obligations.
June 7, 2001
Futures, Cold, Storage Cited in Rising Cash Market
Prices continued to exhibit mild firmness Thursday, and sourceswere able to point out several contributing factors: a risingscreen, colder weather than expected both in western Canada andpushing southward into the central U.S., and Wednesday afternoon’sbullish storage report.
February 11, 2000
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