Standard & Poor’s Ratings Services upgraded its opinion on Dynegy Inc. Tuesday afternoon, after the company offered an upbeat, investor-inspiring earnings forecast that beat Wall Street expectations.
Lifts
Articles from Lifts
Despite Bearish Storage Data, Short-Covering Lifts Futures at Expiry
After dipping to new two-week lows following the announcement that 95 Bcf was pulled from storage inventories the week prior, natural gas futures turned higher late Friday morning and managed to claw back above unchanged on the day. With that the January 2003 contract expired at $4.988, up 2.6 cents for the day and about 70 cents above where it began its tenure as Nymex prompt contract back in late November.
FERC Lifts Open Access on LNG Terminals, Approves Two LNG Projects
A major barrier to the construction of liquefied natural gas (LNG) import terminals has been lifted by the Federal Energy Regulatory Commission (FERC) in a preliminary approval of the nation’s first new LNG import terminal in 25 years.
FERC Lifts Open Access on LNG Terminals, Approves Two LNG Projects
A major barrier to the construction of liquefied natural gas (LNG) import terminals has been lifted by the Federal Energy Regulatory Commission (FERC) in a preliminary approval of the nation’s first new LNG import terminal in 25 years.
Follow-Through Buying Lifts Futures as Market Waits for Updated Storage Data
Despite calls for profit-taking, natural gas futures continued higher Wednesday as buyers pressed prices to new 19-month highs. For a second session in a row, the buying was reportedly dominated by fund traders who, after being flat for more than a month began to accumulate long positions. The buying was heaviest in the January and February contracts, which gained 7.3 cents and 8.1 cents to close at $4.709 and $4.675, respectively. March lagged slightly with a 5.5-cent gain to $4.539. Meanwhile the interest in the back months was considerably less, leaving the summer 2003 strip with a paltry 1.3-cent gain to average $4.235.
Short-Covering Lifts Futures as Traders Play It Safe Ahead of Weekend
Heading into Friday’s trading session, there were about an equal number of market-watchers calling for a short-covering rally as were calling for a continued sell-down. As it turns out, they were both right.
Technical Bottom Feeding Lifts Futures Again
Just as it has done in six of its prior seven trading sessions, the November natural gas futures contract rebounded off a low in the $4.10s Wednesday as bargain buyers came out of the woodwork. Although it didn’t quite become the feeding frenzy it was on Monday, the buying Wednesday was consistent enough to subvert a late morning push down to Tuesday’s price levels. November finished the session at $4.26, up 15 cents for the session and just about in the center of its recent $4.08-42 trading range.
Rebound Lifts March to Expiry; Outlook Remains Bearish for April
After dropping 14.2 cents and coming within striking distance of its 40-day moving average at $2.25 on Monday, March natural gas futures rebounded yesterday as last-minute position squaring by fund and local traders was enough to promote the contract back above the $2.40 mark in the final minutes before the contract’s expiry. March’s final settlement, which is computed by averaging the last 30 minutes of trading, was $2.388, up 8.1 cents for the session and 32.1 cents higher than where it was when it began its tenure as prompt month back on Jan. 29. By comparison, the buying in the out months was more conservative, leaving the 12-month strip with a modest 3.4-cent gain to finish at $2.73.
Coast Guard Lifts Ban on LNG Shipments in Boston Harbor
The New England natural gas market breathed a sigh of relief last week when the U.S. Coast Guard lifted its ban on liquefied natural gas (LNG) tankers into Boston Harbor, clearing the way for Distrigas of Massachusetts LLC to receive overseas’ shipments once again at its Everett, MA, terminal.
Coast Guard Lifts Ban on LNG Shipments in Boston Harbor
Officials with Distrigas of Massachusetts LLC and the U.S. Coast Guard confirmed Tuesday that an order banning liquefied natural gas (LNG) tankers into Boston Harbor has been rescinded effective immediately, enabling the company to receive shipments once again at its Everett, MA, terminal.