Fueled by a supportive storage report, natural gas futures addedto gains achieved in Wednesday evening’s Access trading session ina sharp opening bell rally yesterday. Taking out resistance atprior highs of $2.62 and $2.66, the March contract advanced 10.3cents to finish at $2.667
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FERC Debuts Mega Gas Rule to Mixed Reviews
After 18 months in the making, the much-anticipated mega-rule,initiating a host of post-Order 636 gas transportation and ratereforms made its public debut last week. The rule got good reviewsfrom pipeline customers but immediate criticism from a majorinterstate pipeline.
Amid Barrage of Mixed News, Futures Advance Slightly
After a lower opening failed to attract much in the way offollow-through selling, the natural gas futures market clawed itsway back to post a modest gain Friday as traders were hit a bevy offundamental and technical factors. The January contract closed up1.9 cents at $2.655 while the rest of the strip closed downslightly.
NYC Deliveries Spike Over $4; Aftermarket Mixed
While the rest of the nascent December aftermarket Tuesdayreflected a mix of prices both above and below indexes but mostlyon the slightly higher side, Northeast citygates reacted todeliverability limits and increasingly winter-like weather byshooting up to $3-plus in most cases. The spike was most evident atTransco Zone 6-New York City, which saw a tremendous range of about$1.63 from top to bottom led by a high quote of $4.75.
East Softer, West Sees Small Gains; Floyd Threat Waning
The cash market turned in a decidedly mixed performance Monday.In general, quotes at many western points were up a nickel or so,while the East ranged from essentially flat to down as much as adime. A marketer had a simple explanation: “The West had a littlemore weather (cooling load) than the East did.” A screen drop of 2cents only had the barest negative influence on cash, sources said.
Heat Keeps Eastern Points on Rise; West Slightly Weaker
Cash prices turned in mixed results Wednesday, with easternpoints mostly eking out small gains while the West tended to beflat to off as much as 3 cents in the Rockies and at the two mainNorthern California price points.
Storage, Weather Send Traders Mixed Signals
After a spirited rally Tuesday that propelled the Augustcontract to its highest level since July 15, the market took abreather Wednesday as traders elected to wait on the sidelinesahead of fresh fundamental news. The prompt month finished down 0.6cents at $2.394 in choppy, range-bound trading.
Supply Management Outsourcing Gets Mixed Reviews from LDCs
Can you trust a marketer with all of your regulated assets? It’sa question many LDCs are asking themselves these days asderegulation and competition are stranding more and more supplycontracts, upstream transportation and storage. But there’s no easyanswer, according to several panelists speaking at NGI’sGasMart/Power ’99 in Dallas last week.
Supply Management Outsourcing Gets Mixed Reviews
Can you trust a marketer with all of your regulated assets? It’sa question many LDCs are asking themselves these days asderergulation and competition are stranding more and more supplycontracts, upstream transportation and storage. But there’s no easyanswer, according to several panelists speaking at GasMart/Power’99 in Dallas yesterday.
Ten-Cent Decline Reminds Traders of Futures Downtrend
Natural gas futures turned lower yesterday when a mixed bag ofspeculative and non-speculative selling more than offset light fundbuying. After gapping lower at the open, the February contractquickly mapped out its small, 5-cent trading range and moved verylittle for the remainder of the session. But the price damage hadalready been done, leaving the prompt month 9.6 cents lower tofinish at $1.975 and putting an abrupt halt to a 3-day, 29 centprice spike.