Finds

With a stunning drilling success Chevron Canada Resources Ltd.has delivered a sharp reminder to skeptics about the natural gaspower north of the U.S. border.

A new study finds all is not well with the relationship betweenenergy marketers and service companies and their commercialcustomers. Indeed, BENTEK Energy Research says “commercialcustomers feel marketers and ESCOs promise prices that are notrealized, under-perform on services, and they are not meetingcustomers’ needs in helping to reduce their energy consumption.”

For the second day in a row Friday, the futures market was ableto shrug off sizable losses in the physical market to trade oneither side of unchanged. No fresh news was seen to inspire theNovember contract outside its unusually narrow 3 cent trading rangeand the market was left to settle at $2.164, a 1.2 cent loss forthe day.

Aside from a mostly weather-related boost to cash prices inCalifornia and a supply-related recovery in San Juan prices, Juneincremental trading finished its last trading session flat to downa couple of cents almost across the board. Moderating temperaturesin areas experiencing record setting readings over the weekend andreduced end-of-month activity resulted in the minor softness.