The tremendous fundamental weakness of cash prices manifested itself again Friday with large plunges across the board. The previous day’s minuscule rally of 3.6 cents by December futures had no impact whatsoever in averting big losses throughout the physical market as the continuing mildness of mid-November weather and the rapid recovery from this year’s only substantive tropical storm-related disruption of offshore production weighed on traders’ minds.
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Proposed OMOI Restructuring Reflects FERC’s ‘Heightened Enforcement Role’
FERC’s proposed restructuring of the Office of Market Oversight and Investigations (OMOI) into the Office of Enforcement “reflects [the] heightened role of the Commission’s enforcement responsibilities as manifested by Congress” in the Energy Policy Act of 2005 (EPAct), according to Susan J. Court, who will head up the new office.
April 6, 2006
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