futures

Three federal government agencies, including FERC, the Commodity Futures Trading Commission (CFTC) and now the Securities and Exchange Commission (SEC), are investigating alleged “wash trading” by Entergy Corp., Entergy-Koch, LP or Entergy-Koch Trading, LP in 2001 and 2002.

Three federal government agencies, including FERC, the Commodity Futures Trading Commission (CFTC) and now the Securities and Exchange Commission (SEC), are investigating alleged “wash trading” by Entergy Corp., Entergy-Koch, LP or Entergy-Koch Trading, LP in 2001 and 2002.

A modest show of strength in natural gas futures was no match for the continuing erosion of heating demand in most regions Tuesday, sources said. Wednesday’s remaining pockets of chill were expected to be confined to the Pacific Northwest, sections of the Upper Plains and Upper Midwest along the Canadian border, and the northern portions of the Northeast.

After more than a $1 drop Monday and Tuesday, downward momentum in gas futures finally dissipated on Wednesday. In the morning it even appeared that the April contract was going to hold above $6, but bulls’ hopes were quickly dashed and the near-month contract ended the day down another 7.9 cents to $5.865, a far cry from the $8.50 high only eight trading days ago. The high for the day Wednesday was $6.115 but the low was $5.760.

Natural gas futures were caught in choppy trading action Thursday morning as bullish storage data met head on with the market’s seasonal propensity to move lower in the first quarter of the year. After an initial dip failed to attract much follow-through selling, buyers managed to support the market throughout the rest of the session. March finished at $6.162, up 2.8 cents for the day.

The 10-cent spike in March futures in the face of softer holiday weekend demand at most locations was enough to help cash prices manage gains of about a nickel on average and much more in the Northeast, which was expecting severe cold on Saturday and Sunday.

The Commodity Futures Trading Commission (CFTC) met with 40 federal law enforcement officials last week to share information related to the ongoing energy investigations nationwide.

The Commodity Futures Trading Commission (CFTC) met with 40 federal law enforcement officials Wednesday to share information related to the ongoing energy investigations nationwide.

After holding in the $5.20s for much of the session Friday, the February natural gas futures contract was flushed lower in the final 30 minutes of trading as short-term traders — fearing revised (warmer) forecasts Monday — liquidated their long holdings. The prompt month finished the week at $5.143, down 16.1 cents for the day and 20.1 cents for the week.