Fortune

The reversal of fortune in U.S. natural gas and oil reserves has improved energy security and given the country more leverage around the world, President Obama’s National Security Advisor Tom Donilon said Wednesday.

Royal Dutch Shell plc vaulted into the No. 1 spot for global companies in the world based on revenues, moving up from the No. 2 spot a year, according to Fortune magazine’s Global 500 list.

Bullish energy traders must have been celebrating their good fortune Thursday as they received supportive price news from the same man for the second time in a little more than a week. AccuWeather.com Chief Long-Range Forecaster Joe Bastardi and his team said last week that they expect this summer to be hotter than normal across a large part of the United States, including the most heavily populated areas of the Northeast.

Bullish energy traders must have been celebrating their good fortune Thursday as they received supportive price news from the same man for the second time in a little more than a week. AccuWeather.com Chief Long-Range Forecaster Joe Bastardi and his team said Thursday that they expect this summer to be hotter than normal across a large part of the United States, including the most heavily populated areas of the Northeast.

In a seemingly improbable reversal of fortune, cash prices staged a rally at all points Tuesday, with only MRT failing to realize a double-digit gain. Except in parts of the heating up West, weather fundamentals remained weak and prior-trading-day screen support was negative.

While noting his company’s good fortune to be thriving currently in the otherwise troubled energy sector, Sempra Energy’s CEO Stephen Baum last week reiterated in a third quarter financial results conference call that the company wants to stay “flexible” so it can go after assets that are increasingly being sold at deep discounts. Baum specifically mentioned trading books as being on Sempra’s radar screen.

While noting his company’s good fortune to be thriving currently in the otherwise troubled energy sector, Sempra Energy’s CEO Stephen Baum Tuesday reiterated in a third quarter financial results conference call that the company wants to stay “flexible” so it can go after assets that are increasingly being sold at deep discounts. Baum specifically mentioned trading books as being on Sempra’s radar screen.

Avista Energy, Avista Corp.’s trading and marketing affiliate,has decided to head west to find its fortune. The unit announced achange of corporate direction last week and will now embark on awestern-region based energy marketing and trading effort as opposedto its former national focus.

Avista Energy, Avista Corp.’s trading and marketing affiliate,has decided to head west to find its fortune. The unit announced achange of corporate direction yesterday and will now embark on awestern-region based energy marketing and trading effort, asopposed to its former national focus.