Opening

For the second session in a row, natural gas prices gapped lower at the opening bell Tuesday, as mounting apprehension over today’s storage report convinced traders to lighten their long exposures a little more. But in stark contrast to Monday when prices continued lower throughout the session, gas prices rebounded slightly in the afternoon, filling in the earlier chart gap. The June contract closed at $4.641, down 5.4 cents for the day.

Although opening up the coastal region of the Arctic National Wildlife Refuge (ANWR) to exploration is high on his list of things he would like to see accomplished, President Bush said last week that if Congress should fail to pass legislation to allow drilling in the Alaska region it will only toughen his resolve to lift restrictions on unprotected federal lands to drill for natural gas and oil.

Although opening up the coastal region of the Arctic NationalWildlife Refuge (ANWR) to exploration is high on his list of thingsto do, President Bush said yesterday that if Congress should failto pass legislation to allow drilling in the Alaska region it willonly toughen his resolve to lift restrictions on other federallands for producers.

After a weather-delayed opening, natural gas futures checkedmostly sideways Tuesday despite the presence of some moderatelybullish weather and storage news. After carving out its narrow5.5-cent trading range during the first 30 minutes of trading, theApril contract shuffled sideways to close 2.1 cents lower at$5.315.

TradeSpark said yesterday that it has traded energy productswith a notional value of more than $16 billion since opening forbusiness last October. The electronic marketplace said it tradedmore than 1.72 billion Btu of natural gas instruments, with anotional value of more than $9 billion and 141 million MWh ofelectricity instruments with a notional value of about $6 billion.

Here’s the opening line by the Texas Chamber of Commerce in anybids to lure West Coast business: by this summer, the completionand continued construction of new generation plants in Texas willcreate an electricity supply about 23% higher than peak firmdemand.

Here’s the opening line by the Texas Chamber of Commerce in anybids to lure West Coast business: by this summer, the completionand continued construction of new generation plants in Texas willcreate an electricity supply about 23% higher than peak demand.

Nevada’s governor last week delayed opening the state’selectricity market until no later than Sept. 1, 2001, choosing toestablish a bipartisan statewide committee to develop a new energypolicy for the state.

Nevada’s governor last week delayed opening the state’selectricity market until no later than Sept. 1, 2001, choosing toestablish a bipartisan statewide committee to develop a new energypolicy for the state.