Mode

Gas buyers are in panic mode right now and energy service providers are struggling to provide answers to a perfect storm of events that is driving not only natural gas prices into the stratosphere but also the prices of many other fuels.

Bullied by a surprisingly strong blast of winter weather, the natural gas futures market turned abruptly higher Monday as waves of fund and local short covering entered the trading pit. A stronger open set the tone and by 12:30 p.m. EST the January contract had carved out a new six-week continuation-chart high at $5.38.

The scandal-ravaged natural gas and electricity industries have hit bottom and are now in a recovery mode, said the head of the Committee of Chief Risk Officers (CCRO) last Wednesday.

The scandal-ravaged natural gas and electricity industries have hit bottom and are now in recovery mode, said the head of the Committee of Chief Risk Officers (CCRO) Wednesday.

The Department of Transportation’s Office of Pipeline Safety (OPS) moved quickly into a “response mode” following the Sept. 11 terrorist strikes, contacting pipeline companies to determine the level of preparedness within the industry, said a top OPS official last week. In the end, it was judged to be “very good.”

The Department of Transportation’s Office of Pipeline Safety (OPS) quickly moved into a “response mode” following the Sept. 11 terrorist strikes, contacting pipeline companies to determine the level of preparedness within the industry, said a top OPS official. In the end, it was judged to be “very good.”

The cash market remained in mild softening mode for the most part Thursday. Nearly all points ranged from barely a couple of pennies higher to down about a nickel, with small declines predominating. Transco Zone 6-NYC remained the price leader, but it recorded Thursday’s biggest drop of about 30 cents as traders anticipated a weekend cooldown. California also tended to see larger downticks than other markets.

As oil and gas exploration continues in high gear mode to erase the supply/demand imbalance, Kerr-McGee Corp. reported that it has increased its international position in high potential trends by nearly 10% so far in 2001. The Oklahoma City-based company said it has acquired interests in more than 3 million additional deepwater acres around the globe.

As oil and gas exploration continues in high gear mode to erase the supply/demand imbalance, Kerr-McGee Corp. reported that it has increased its international position in high potential trends by nearly 10% so far in 2001. The Oklahoma City-based company said it has acquired interests in more than 3 million additional deepwater acres around the globe..