The Senate Energy and Natural Resources Committee on Friday postponed a hearing to consider the nomination of former New Mexico regulator Suedeen G. Kelly for a seat on FERC until September, expressing concern that Kelly could face hostile questions if her confirmation hearing were held now due to the hot-button nature of ongoing negotiations over the electricity title and energy legislation. Her hearing had been scheduled for July 16.
Fizzles
Articles from Fizzles
Cash Likely to Follow Nymex Slide; Storm Activity Fizzles
Most of the cash market emerged from the Labor Day weekend hiatus to discover prices ranging from flat to a little more than a dime higher Tuesday, but the modest firmness was not expected to last after the energy futures complex took a dive.
Barry Fizzles, But Heat Causes Mild Price Hikes
The tropical storm threat was fading, but hotter weather was returning in many areas, prompting mild firmness in the cash market Monday. Most points ranged from flat to as much as about 30 cents higher in the case of Transco Zone 6-NYC, but there were a few small downturns thrown into the mix.
June Fizzles After Fast Start
After spiking as much as 7 cents higher in the Wednesday eveningAccess session, the new prompt month was the focus of muchconjecture and speculation. Would June continue higher, followingthe example set by May, or fall from its already lofty perch? Formany, it is still too early to tell, but if yesterday’s priceaction was any indication, June will have a difficult time matchingMay’s 50-cent price increase over the past month. After opening at$2.40, the June contract tumbled throughout the session to close at$2.339, a 0.2-cent decline from Wednesday’s close.
Bullish Hype Fizzles, Leaves Market to Trend Lower
Perched at recent highs and just below contract resistance at$2.19, the May contract was poised to continue higher yesterday.And after opening at $2.17 local buying pushed prices to $2.189 inchoppy trading. But despite the bullish euphoria the market hadbefore the open, locals received little help from other marketsegments early yesterday and were forced to cover their longpositions Tuesday afternoon. The resultant sell-off left the promptmonth down 2.5 cents to $2.144.
July Fizzles Lower Ahead of Storage Report
The July contract slipped ever-so-slightly yesterday during aquiet trading session as many traders elected to remain on thesidelines in anticipation of the AGA’s weekly storage report. Julywas limited to a tight nickel range settling down 0.8 cents to$1.93. Estimated volume was 47,000.