CenterPoint Energy officials are investigating what caused one of the company’s gas lines to explode last Thursday morning around 8 a.m. in Minneapolis, MN. While the explosion and resulting fireball could be seen for miles, no injuries were reported and repair work was under way.
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CenterPoint Energy Gas Line Explodes in Minneapolis
CenterPoint Energy officials are investigating what caused one of the company’s gas lines to explode Thursday morning around 8 a.m. in Minneapolis, MN. While the explosion and resulting fireball could be seen for miles, no injuries were reported as of Thursday afternoon and repair work was under way.
NatGas Futures Inch Higher Ahead of Fresh Storage News
Even with July crude futures continuing to explode higher, June natural gas futures values probed the downside in morning trade before limping higher to close at $3.970 Wednesday, up 5.6 cents from Tuesday’s finish.
Western Prices Explode, Lead Overall Soaring Market
Spot prices appeared to be aimed at escaping earth’s orbit Mondayas they skyrocketed by huge amounts, led by several western pointsrecording increases in triple digits. A strong screen had someinfluence, but it was frigid weather saturating most of the NorthAmerican continent and prompting a plethora of pipeline OFOs (see Transportation Notes) that played thebiggest role in a market that awed many participants.
Futures Explode Higher Amid Storm Concerns
The market wasted little time retracing Thursday’s losses inactive trading on Friday by gapping higher on the open beforeexploding upward amid growing concerns of more supply disruptionsdue to storms in the Gulf and Atlantic. The October contract spikedas high as $2.35 on a wave of panicked buying early in theafternoon on Friday as traders were already facing supplyinterruptions associated with Tropical Depression 8. However, byearly afternoon traders were shifting their concern to the lessimminent, but potentially more severe Georges still located in theAtlantic. That allowed traders to take profits ahead of the weekendand October to slip lower. October finished up 12.2 cents to $2.26.