Staff of the Federal Energy Regulatory Commission’s (FERC) Office of Enforcement (OE) said it has preliminarily determined that National Energy & Trade LP violated FERC’s Prohibition of Natural Gas Market Manipulation “by fraudulently trading physical basis at Texas Eastern M3 (Tetco M3) during the January 2012 bidweek to increase the value of its financial basis position.” OE staff alleges that Houston-based National Energy sold physical basis at Tetco M3 at arbitrarily low prices early in the morning to benefit a large short financial basis position acquired before bidweek, a large part of which it repurchased after making its physical basis sales. Staff also alleges that National Energy fraudulently traded physical basis at Henry Hub during the April 2014 bidweek to increase the value of its financial exposure, by trading physical basis after the close of the NYMEX solely to benefit its exposure to the Henry Hub Inside FERC index.
Physical
Articles from Physical
NatGas Cash, Futures Glide Lower Following Storage Report
Physical gas for Friday delivery slipped in Thursday’s trading as traders for the most part elected to get deals done before the 10:30 a.m. EDT release of government inventory data.
NatGas Cash, Futures Glide Lower Following Storage Report
Physical gas for Friday delivery slipped in Thursday’s trading as traders for the most part elected to get deals done before the 10:30 a.m. EDT release of government inventory data.
Physical NatGas Slips 6 Cents; Futures Probe 14-Year Lows
Physical gas for Tuesday delivery carried on with the kind of losses incurred in Friday for weekend trading, despite near-term temperature forecasts at eastern points expected to take a drop by midweek. Some eastern points were significantly higher, but the NGI National Spot Gas Average fell 6 cents to $1.64.
Serene Cash Market In Sharp Contrast To Free-Falling Futures; November Drops 22 Cents
The physical natural gas market for next-day deliveries was mostly steady Monday, but futures trading grabbed center stage as traders digested a second round of weather forecasts calling for near-term warmth.
Weekly Natgas Weakens, But Equity Markets Spiral Lower
There were a lot of long faces in both the energy and financial markets for the week ended Aug. 21. Natural gas physical and futures both sustained a double-digit drubbing and the NGI Weekly Spot Gas Average fell 14 cents to $2.54. That, however, paled in comparison to the 531-point swan dive the Dow Jones Industrial Average took on Friday.
Barclays Seeking Sale of North American NatGas Assets This Month
Barclays Bank plc intends to sell all of its physical natural gas assets in North America and will be accepting bids from potential buyers through July 29, the UK banking giant said in documents filed at FERC.
Barclays Seeking Sale of North American NatGas Assets This Month
Barclays Bank plc intends to sell all of its physical natural gas assets in North America and will be accepting bids from potential buyers through July 29, the UK banking giant said in documents filed at FERC.
Physical Natural Gas, Futures Part Ways
The natural gas physical and futures markets moved in divergent directions Monday as the physical market responded to some unseasonable eastern weather patterns.
Physical Natural Gas, Futures Part Ways
The natural gas physical and futures markets moved in divergent directions Monday as the physical market responded to some unseasonable eastern weather patterns.
