While the National Oceanic and Atmospheric Administration (NOAA) continues to see a moderating influence of El Nino producing warmer than normal winter temps across the northern half of the country straight on through March 2003, other forecasters are pointing out that prediction has been wrong so far and will continue to be wrong.
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Analysts Question Whether Declining Production or Low Oil Prices to Influence Gas Prices
Domestic third-quarter natural gas production showed yet another sequential decline, and trends suggest gas prices may move up in 2003, energy analysts suggest. However, other analysts maintain a decline in gas prices is more likely because gas isn’t getting any support from higher oil prices, which may be more relevant.
Cold Weather Able to Keep Most of Market on Rise
Last week’s siege of severe winter weather retained enough market influence Friday to have weekend prices in the Northeast ranging from flat to up as much as nearly 20 cents (Transco Zone 6-NYC), although most gains were less than a dime. Western points, where some moderation of the cold was already under way, tended to see mostly tiny declines of a couple of cents or so.
Futures Shuffle Lower as Locals Exert Their New-Found Influence
Volatility was once again the name of the game Monday in the natural gas pit at Nymex, as local traders found it easier to push prices around in a market noticeably void of its once-dominant market-maker, Enron. The exchange last Thursday forbid its floor members to accept an order placed by Enron or its affiliates without written authorization, and since that time the market has experienced volatility that one would not expect considering the lack of fundamental or technical impetus. Rebounding nearly 8 cents from a $2.555 low notched early in the session, the January contract finished at $2.63, down 6.7 cents for the day.
ICC Approves NOI, Questions California Influence
Prodded by Gov. George H. Ryan, the Illinois Commerce Commission (ICC) voted late week unanimously to open a Notice of Inquiry (NOI) to investigate the high natural gas prices in the state.
ICC Approves NOI, Questions CA Influence
Prodded by Gov. George H. Ryan, the Illinois Commerce Commission(ICC) yesterday voted unanimously to open a Notice of Inquiry (NOI)to investigate the high natural gas prices in the state.
Price Rise Slows as Storm Influence Wanes
Nearly all prices continued to climb Tuesday but at a slowerpace than on the day before. Few points advanced more than a dime,San Juan Basin and the Southern California border were flat, andSumas prices into Northwest saw the rare decline of about a nickel.
Prices Rally Strongly As Weather Influence Grows
Fundamentals began playing a larger role in a rebounding weekendmarket Friday as several sources expressed relief that thepreviously frenetic screen was beginning to calm down.
Negative Futures Influence on Cash Expected to Grow
Cash prices finally experienced some retrenchment Thursdayfollowing an awe-inspiring series of growth spurts during May, buta near-total collapse of the screen along with the usual dropoff inweekend demand is expected to result in significantly greaterdeclines today.
EnronOnline Strikes Again
Expanding its fast-growing sphere of influence within theindustry, EnronOnline, the Internet-based wholesale energytransaction platform sponsored by Enron, announced that it willhold the first online sulfur dioxide (SO2) emissions allowanceauction in the U.S. from March 13-16.