Fleeting

As a producer had predicted, Monday’s rebound in the cash market was fleeting. Although some parts of the Midwest were about to see temperatures retreat again after a brief warm-up, the moderate nature of the general weather outlook combined with prior-day futures weakness to take nearly all of the cash market lower Tuesday.

As a producer had predicted, Monday’s rebound in the cash market was fleeting. Although some parts of the Midwest were about to see temperatures retreat again after a brief warm-up, the moderate nature of the general weather outlook combined with prior-day futures weakness to take nearly all of the cash market lower Tuesday.

As parts of the Northeast and Midwest “enjoyed” a brief respite from an ongoing siege of severely cold weather, prices took steep dives Monday. But with an even worse blast of winter set to show up as early as Tuesday night, traders braced for what are expected to be fairly large rebounds.

Documents released last week as part of ongoing probe into Enron Corp. portrayed former Chairman Kenneth L. Lay as an absent executive who seemed to be always just returning from trips, had his eye on leaving the energy trading giant that he guided to the top, had precious little first-hand knowledge of the financial details of the company, and accepted at face value the judgments and decisions of his right-hand men.

A report by internal investigators paints former Enron Corp. Chairman Kenneth L. Lay as an absent executive who seemed to be always just returning from business trips, had precious little first-hand knowledge of the financial details of the energy trading company that he oversaw, and accepted at face-value the judgments and decisions of his right-hand men.