Like a stunned boxer that twice tries but fails to lift himself off the mat, the natural gas futures market was unable to recover Thursday following the release of storage data from the Energy Information Administration (EIA) showing a larger-than-expected 64 Bcf injection. After dropping a cool 10 cents in 10 minutes following the report, the August contract looked like it might rebound before lunchtime. However, that rally and a similar one in the early afternoon fizzled, leaving prices to sift downward and close just off their lows. At $2.902, the August contract finished with a 14-cent decline for the session.
Himself
Articles from Himself
DOE Extends Emergency Order for CA
Making himself a domestic energy diplomat moving betweenmeetings in Washington, DC, and the West, Energy Secretary BillRichardson last week supported the need for a western regionalwholesale power price cap as he extended for another week hisearlier emergency order requiring generators and marketers to makepower available to the continuing tight California market to avoidthe threat of rolling blackouts. The order, which was first issuedon Dec. 14, expired Tuesday at midnight. The new order will remainin effect until Dec. 27, unless modified.
December 25, 2000
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