Obviously

The heat that spurred Tuesday’s price gains obviously was sufficient for only one day of bullishness. With some cooling trends approaching, and pressure from five straight preceding days of screen weakness, prices fell by double digits at all points Wednesday. Losses ranged from 15 cents to nearly 50 cents, and most points retreated further than they had advanced in Tuesday’s mini-rally.

Wednesday’s screen spike obviously trumped somewhat bland weather fundamentals in pushing cash prices strongly higher Thursday. However, a combination of reversals in Nymex’s energy futures complex Thursday and the typical drop in weekend industrial load is a sure bet to spur market softness Friday, several sources agreed.

President Bush “obviously likes and trusts Pat Wood,” said former FERC Chairman James J. Hoecker last week, when asked why he thought the president decided to get rid of current Chairman Curt Hebert Jr., a Republican, after just seven months on the job and replace him with Wood to lead the Commission.

President Bush “obviously likes and trusts Pat Wood,” said former FERC Chairman James J. Hoecker yesterday, when asked why he thought the president decided to get rid of current Chairman Curt Hebert Jr., a Republican, and replace him with Wood.

While FERC’s recent decision to call a technical conference onTriState Pipeline “obviously was not advantageous for us,” leadsponsor CMS Gas Transmission and Storage isn’t ready “at thispoint” to throw in the towel on the project, a company spokesmansaid.

While FERC’s decision last week to call a technical conferenceon TriState Pipeline “obviously was not advantageous for us,” leadsponsor CMS Gas Transmission and Storage isn’t ready “at thispoint” to throw in the towel on the project, a company spokesmansaid.

Convergence obviously is alive and well in the energy industry, but it’s not exactly what a lot of people seem to think it is, according to Dynegy CEO Chuck Watson. Convergence isn’t just about gas and power coming together. It’s not just marketing gas and power and growing market share.

Convergence obviously is alive and well in the energy industry,but it’s not exactly what a lot of people seem to think, accordingto Dynegy CEO Chuck Watson. Convergence isn’t just about gas andpower coming together. It’s not just marketing gas and power andgrowing market share.

“Following the screen” obviously didn’t apply Tuesday as thecash market’s mostly flat performance was a far cry from the8.1-cent drop in the Henry Hub futures contract for June. But, as aGulf Coast trader noted, a substantial portion of the screensoftness occurred after cash had finished trading for the day, andto him that means it’s a safe bet to expect a decline in cashprices today.