futures

Despite the 78-cent near-month futures price collapse on Wednesday, the market for January delivery still stands at $9.435/MMBtu and there are probably plenty more horror stories than success stories from gas buyers prior to the Halloween weekend. Success is relative in this market and gas consumers need to adapt to the changes that have taken place over the last four years in order to find it, according to energy service providers.

Following a rule enforcement review of the New York Mercantile Exchange’s practices by the Commodity Futures Trading Commission’s Division of Market Oversight (DMO), the Commission found that Nymex performed most functions adequately. However, the review also highlighted areas that need to be enhanced.

Following a rule enforcement review of the New York Mercantile Exchange’s practices by the Commodity Futures Trading Commission’s Division of Market Oversight (DMO), the Commission found that Nymex performed most functions adequately. However, the review also highlighted areas that need to be enhanced.

For anyone who was keeping score, it seemed the Commodity Futures Trading Commission (CFTC) was collecting far more money from energy companies in penalties and settlements than the Federal Energy Regulatory Commission over the past year. But that’s not what the totals show. FERC, in fact, obtained over $100 million more from energy firms than the CFTC, according to the Department of Justice’s (DOJ) review of the second-year performance of the president’s Corporate Fraud Task Force.

For anyone who was keeping score, it seemed the Commodity Futures Trading Commission (CFTC) was collecting far more money from energy companies in penalties and settlements than the Federal Energy Regulatory Commission over the past year. But that’s not what the totals show. FERC, in fact, obtained over $100 million more from energy firms than the CFTC, according to the Department of Justice’s (DOJ) review of the second-year performance of the president’s Corporate Fraud Task Force.

As anticipated, the previous day’s futures plunge of nearly 30 cents was reflected by overall softness in Tuesday’s cash market. But there was enough hot weather demand to distribute pockets of flat to higher prices here and there.

The natural gas futures market made it three in a row Tuesday as traders continued to lift prices off last Wednesday’s $5.96 low. The biggest boost was seen in the prompt July contract, which ascended 6 cents to $6.304. Less impressive were the out months, resulting in a modest 3.7-cent uptick in the 12-month strip.

With natural gas futures bouncing around $6s and even threatening to break the psychological $7 mark, many market watchers are wondering why prices remain elevated despite comfortable storage levels and near record rig counts.

With natural gas futures now in the high $6s and even threatening to break the psychological $7 mark, many market watchers are wondering why prices continue to elevate despite comfortable storage levels and near record rig counts.