After encountering heavy overhead selling above last Thursday’s $4.13 high, natural gas futures sunk lower Monday as traders took back early-session advances and demoted the market to its lowest level in more than a week. The July contract closed 4 cents weaker at $3.939, but comparatively, that was the good news for bulls. The rest of the summer strip slipped 4.1 cents and the winter strip sunk 5.4 cents. Keeping with the trend, the 12-month strip tumbling 5.4 cents as well.
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NERC: Northeast, Southwest Will Be Tight this Summer
The month of May provided a nice opportunity to become familiarwith the power emergency procedures that are likely to be utilizedduring peak demand periods in New England, New York, and theSouthwest this summer. The North American Electric ReliabilityCouncil’s 2000 Summer Assessment on the reliability of bulk powersupply officially confirmed last week that these three areasprobably will be challenged to meet peaking loads.
May 29, 2000
NERC: Northeast, Southwest Will Be Tight
The month of May provided a nice opportunity to become familiarwith the power emergency procedures that are likely to be utilizedduring peak demand periods in New England, New York, and theSouthwest this summer. The North American Electric ReliabilityCouncil’s 2000 Summer Assessment on the reliability of bulk powersupply concludes that these three areas probably will be challengedto meet peaking loads.
May 25, 2000
January Contract Sings a Familiar Tune
Changes were in the air last Wednesday at the New YorkMercantile Exchange. Traders were greeted with a new promptmonth-January, a stronger December cash market, and even a freshrally-thanks to a short-covering Tuesday. Just about the only thingthat hadn’t changed were the bearish fundamental factors-storageand weather-prevalent in the market. But once again thosefundamentals were king Wednesday, and the selling pushed theJanuary contract down 7.9 cents to $2.196 at the closing bell.
November 30, 1998
Futures Ride Early Strength to Familiar Level
The $2.08-10 level has been a magnet for November futures pricesthis week, and yesterday was no exception when buyer and sellersmatched up just about evenly to produce a $2.095 settle. Sourcessaid strong selling above $2.10 was enough to thwart the earlymomentum produced from follow-through buying carried over from theWednesday evening Access session. Despite the relatively narrow8-cent trading range, estimated volume registered a hefty 62,079.
October 16, 1998
‘Volatility’ Returns to Natural Gas Pit at Nymex
June has ushered a familiar characteristic back into the naturalgas trading pit at Nymex: volatility. Natural gas and volatilityoften are spoken in the same breath. However, for periods thiswinter and spring, the dips and rallies that have drawn manytraders to natural gas have been largely suppressed. But now withsummer clsing in, June has been marked by choppy trading withweather bulls on one side and storage bears on the other. Analystsin the middle are mixed as to who will win the battle, but nearlyeveryone in the market agrees the “V” word is back to stay for awhile.
June 19, 1998
FERC Begins Inquiry of OCS Regulation-Again
The FERC majority voted yesterday to once again submerge itselfinto the “familiar, yet very rocky waters” of pipeline regulationon the Outer Continental Shelf (OCS). Specifically, it initiated anotice of inquiry (NOI) into alternatives to the Commission’spresent method of exercising its jurisdiction over offshorepipelines.
May 28, 1998
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