Reports of the Lehman Brothers implosion, the purchase of Merrill Lynch, the freefall of the Dow Index and petroleum contract values and concerns over Hurricane Ike damage and shut-ins all added up wide swings for natural gas futures on Monday. After pressing support at $7 in early trade, the prompt-month shot violently higher to a high of $7.840 just after noon EDT before evening out in the end at $7.374, up less than a penny from Friday’s close.
Implosion
Articles from Implosion
Pioneer Natural Resources Latest to Be Bit by SemGroup Downfall
A week after news of SemGroup LP’s implosion due to $3.2 billion in crude oil trading losses, the dust is still settling, revealing more creditors with direct exposure to the troubled company (see NGI, July 28). Last Monday Pioneer Natural Resources Co. announced that it has approximately $30 million of unpaid pre-bankruptcy claims for condensate sold to certain subsidiaries of SemGroup.
August 4, 2008
Pioneer Natural Resources Latest to Be Bit by SemGroup Downfall
A week after news of SemGroup LP’s implosion due to $3.2 billion in crude oil trading losses, the dust is still settling, revealing more creditors with direct exposure to the troubled company (see Daily GPI, July 24). On Monday Pioneer Natural Resources Co. announced that it has approximately $30 million of unpaid pre-bankruptcy claims for condensate sold to certain subsidiaries of SemGroup.
July 29, 2008
CPUC Head Sees Positive Regulatory, Economic Landscape
Unlike before, during and after the wholesale energy market implosion in the West when California energy stakeholders were out of sync with state policymakers, the state’s chief regulator this year sees a consensus forming through increased collaboration among all of the key players at both the federal and state levels.
March 14, 2005
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