Parameters

June natural gas futures rose Tuesday as analysts saw the gain as consistent with movement within the market’s prevailing price parameters. Prices may take some guidance from the oil markets during a time when weather-driven fundamentals have minimal market-moving capability. At the close June had gained 9.2 cents to $4.246 and July added 8.7 cents to $4.303. June crude oil continued its journey higher rising $1.33 to $103.88/bbl.

September natural gas futures managed to stage a modest rally, but still stayed within narrow trading parameters Monday. Traders cited tropical activity and forecasts for warm weather as being the bullish culprits, but suggest that this is a “sell rallies” market. September rose 10.1 cents to $8.349 and October gained 9.2 cents to $8.422. September crude oil fell 75 cents to settle at $114.45/bbl.

Responding to a chorus of calls from Capitol Hill and California politicians, the Federal Energy Regulatory Commission last week said it will release to the public the mass of documents that has been furnished by sellers and others as part of the agency’s probe into potential manipulation of prices for natural gas and electricity in western markets, and in related refund proceedings. However, it noted some of the information still will remain confidential.

In a notice of intent (NOI) issued late Wednesday, the Federal Energy Regulatory Commission said it intends to release to the public a mass of documents that were furnished by energy suppliers and others as part of the agency’s year-long probe into potential manipulation of short-term prices for natural gas and electricity in western markets. However, it also noted that some of the information still will remain confidential [PA02-2].