Having already experienced a wave of long liquidation (Friday) and a short-covering squeeze (Monday), natural gas futures were left without a major price influence on expiration day Tuesday. Modest, market-on-close selling tipped the scales in bears’ favor in the last 30 minutes of trading. The November contract finished at $4.126, down 5 cents for the session, but 23.7 cents higher than the level from which the market began its tenure as prompt month.
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In Brief
The Senate last week confirmed Commissioner Curt Hebert Jr. to anew five-year term on the Federal Energy Regulatory Commission. Histerm expires in June 2004.
People
The Senate last week confirmed Commissioner Curt Hebert Jr. to anew five-year term on the Federal Energy Regulatory Commission. Histerm expires in June 2004.
Administration to Nominate Massey to Another Term
Industry concerns that FERC could lose one of its mostexperienced commissioners when his term expires at the end of thismonth were partially quelled late Tuesday when President Clintonannounced his intent to nominate Commissioner William L. Massey toanother term. His new term, which is subject to Senateconfirmation, would expire June 30, 2003.