Extend

Pacific Gas & Electric did not extend a high-inventory OFO beyond Saturday.

Pacific Gas & Electric did not extend a high-inventory OFO that had been in effect Wednesday and Thursday.

Pacific Gas & Electric did not extend a high-inventory OFO with zero tolerance for positive imbalances beyond Friday.

Pacific Gas & Electric did not extend a two-day high-inventory OFO beyond Thursday.

In sympathy with lower crude oil prices and in reaction to the virtual certainty that neither Tropical Storm Dolly nor Edouard will pose a threat to production, natural gas futures continued their week-long descent Tuesday as locals and commercial traders liquidated long positions. With a gap-lower open on the daily chart, bears set the tone right from the outset. However, by 11 a.m. EDT, the selling pressure had dried up, leaving the market to chop sideways throughout the rest of the session. October finished at $3.132, up 3.2 cents from its morning low, but down 16.4 cents for the day.

Pacific Gas & Electric did not extend a high-inventory OFO beyond Saturday.

The United States could extend its environmental reach into neighboring Mexico if a bipartisan congressional effort launched last week results in new restrictions on natural gas fired power plants developed from this year onward within 50 miles of the U.S. border. Proposed legislation has been offered by a San Diego-based U.S. congressman and the two senators from California to ban the export of U.S. natural gas to plants in Mexico that don’t meet U.S. air quality standards.

After twice failing to break to a new seven-week daily continuation chart high, natural gas futures tumbled lower in the last 75 minutes of trading Thursday as commercial and local traders took profits notched during the bull run of the last 10 days. The April contract was the hardest hit by the late sell-off, giving back 7 cents for the session to close at $2.357. The out months slipped as well but by a lesser degree, which served to widen the market’s forward carry premium.

Pacific Gas & Electric did not extend a high-linepack OFO beyond Friday, but its neighbor to the south, Southern California Gas, had a similar Overnominations Day notice in place Saturday.