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Feeding off late session gains notched Wednesday, natural gas futures plodder higher Thursday as traders continued to look past bearish fundamental factors to focus on the winter weather forecasts and modestly constructive technical indicators. However, an extremely light estimated volume of just 61,048 limited the market’s upside potential, and as a result, the January contract experienced an “inside-day” on the daily charts with a lower high and a higher low. The prompt month settled at $2.756, up 3.7 cents on the day.

Ending months of speculation, FERC Chairman Curt Hebert Jr. informed the White House late last week that he will step down from the Commission at the end of August.

Trading inside the range established on Wednesday and Thursday, natural gas futures checked mostly sideways Friday as light short covering ahead of the weekend was met with an almost equal amount of overhead selling. The July contract finished at $3.93, up 1.6 cents on the day, but down 10.3 cents for the week.

After failing to punch through last Wednesday’s high, natural gas futures traded mostly sideways Monday, as neither bull nor bear could influence prices. At the closing bell, the May contract was 0.3 cents weaker at $5.125.

California regulators postponed a growing backlog of pendingactions in deference to ongoing legislative efforts to develop acomprehensive solution to the state’s energy woes. Regulators lastweek put off action on an allocation of utility revenues to thestate water resources department, which is buying electricity forconsumers and attempting to sign long-term power contracts.

California regulators postponed a growing backlog of pendingactions in deference to ongoing legislative efforts to develop acomprehensive solution to the state’s energy woes. Regulatorsyesterday put off action on an allocation of utility revenues tothe state water resources department, which is buying electricityfor consumers and attempting to sign long-term power contracts.

CMS Energy President and COO Victor J. Fryling will leave thecompany effective Dec. 20, the company announced yesterday.

In a take-it-or-leave-it gesture, California consumer advocatesTuesday handed the governor and state legislature an ultimatum torollback electric industry restructuring and insert the state in anexpanded role over the development and operation of power plants.If the elected officials fail to act, the consumer activists planto put another measure on the statewide ballot in 2002.

A blast of cold weather and snow in the Rockies and northernPlains helped lift cash prices more than a quarter from weekendlevels at some Rocky Mountain region locations, but cash prices atmost points east of the Rockies lost their footing early yesterdayand slid most of the day before regaining ground late in thesession.