Lose

Southern noted that it will lose 64% of its available injection/withdrawal capability during a shutdown test of the Muldon (MS) Storage Field that begins Tuesday and runs through the following Monday. Based on current supplies and anticipated demand, Southern expected injection requirements Tuesday to exceed capability by about 75,000 Dth/d.

Pacific Gas & Electric did not extend a systemwide high-inventory OFO beyond Saturday.

If the futures markets lose one or both of their key functions, price discovery and risk hedging, “the physical hedgers will abandon the futures markets and they will become little more than high-stakes casinos,” a top executive with a global investment firm told a Senate panel Tuesday.

States stand to lose an estimated $42.5 million in oil and natural gas revenues in 2008 as a result of a provision in an omnibus spending bill President Bush signed in late December that gives the federal government a greater share of royalties, according to a spokesman for the Interstate Oil and Gas Compact Commission (IOGCC).

States stand to lose an estimated $42.5 million in oil and natural gas revenues in 2008 as a result of a provision in an omnibus spending bill President Bush signed Wednesday that gives the federal government a greater share of royalties, a spokesman for the Interstate Oil and Gas Compact Commission (IOGCC) said Thursday.

September natural gas futures drifted lower as formerly supportive fundamental weather factors started to lose some of their bullish luster Friday. The September contract fell 1.6 cents to settle at $6.090 and the October contract skidded 2.4 cents to $6.292. Floor traders noted a fundamentally soft tone to the market.

Attempting to take some of the risk out of long-dated trading so companies don’t lose the shirt off their back from being on the wrong side of the market, IntercontinentalExchange Inc. (ICE) announced last week that it has recently expanded its ICE Data Market Price Validation (MPV) service to include more products and data points. Also last week, ICE signed a definitive agreement to acquire Houston-based ChemConnect Inc.’s commodity trading business.

Attempting to take some of the risk out of long-dated trading so companies don’t lose the shirt off their back from being on the wrong side of the market, IntercontinentalExchange Inc. (ICE) announced Wednesday that it has recently expanded its ICE Data Market Price Validation (MPV) service to include more products and data points.

Following Tuesday’s pressure release that saw the May natural gas contract lose 24.5 cents, traders on Wednesday were able to resume their course towards higher prices despite the continued easing of tensions in the Middle East. The prompt month gained 8.9 cents Wednesday to finish at $7.515.