Negative

Citing Florida forecasts of temperatures in the high 90s, Florida Gas Transmission issued an Overage Alert Day for market-area customers Friday carrying a 25% tolerance for negative daily imbalances.

Due to Florida forecasts of highs in the mid 90s and low linepack, Florida Gas Transmission issued an Overage Alert Day notice for market-area customers Friday with a 20% tolerance for negative daily imbalances.

Pacific Gas and Electric issued a systemwide Stage 1 high/low-inventory OFO for Friday, setting penalties of 25 cents/Dth for either negative or positive imbalances exceeding a 10% tolerance.

BP plc’s operating performance remains “satisfactory overall,” which merits a revised outlook to “stable” from “negative,” Standard & Poor’s Ratings Services (S&P) said Wednesday.

With Florida temperatures in the 90s predicted, Florida Gas Transmission issued an Overage Alert Day for market-area customers Wednesday, setting a 20% tolerance for negative daily imbalances.

Florida Gas Transmission tightened the tolerance for negative daily imbalances from 20% to 10% in extending an Overage Alert Day for market-area customers into a second day Wednesday.

July natural gas futures gained as traders noted a firm tone to the market as well as a supportive weather outlook. Negative news on the economy was shrugged off, and at the close July had gained 14.8 cents to $4.666 and August had risen 14.3 cents to $4.700. July crude oil surged $2.11 to $102.70/bbl.

Pacific Gas and Electric kept a systemwide Stage 2 high-inventory OFO in place through at least Friday but loosened the tolerance for positive negative imbalances from 5% to 13%.

June natural gas futures fell hard Thursday as a double whammy of a moderately negative inventory report combined with a broad market downdraft in equities and other commodity markets to pummel prices. At the close June had fallen 31.6 cents to $4.261 and July was similarly lower by 31.3 cents to $4.331.