August natural gas suffered a double-digit loss Wednesday as a combination of front-month selling and spread trading combined to pummel futures. Traders are also anticipating the release of modestly bearish inventory figures from the government Thursday. At the close August had fallen 14.6 cents to $4.217 and September had given up 14.9 cents to $4.222. August crude oil slipped 24 cents to $96.65/bbl.
Pummel
Articles from Pummel
Political, Regulatory Risks Pummel 2Q Gas, Power Earnings
Natural gas and power companies reported their “worst quarterly performance…since early 1998,” off 8% overall in the second quarter, versus a 5% gain in the Standard & Poors 500, according to a review by Credit Suisse First Boston Corp. (CSFB). Most problematic for the quarter, said analysts, were “unpredictable” political and regulatory risks, which, combined with lower gas prices, had a negative impact.
July 2, 2001
Political, Regulatory Risks Pummel 2Q Gas, Power Earnings
Natural gas and power companies reported their “worst quarterly performance…since early 1998,” off 8% overall in the second quarter, versus a 5% gain in the Standard & Poors 500, according to a review by Credit Suisse First Boston Corp. (CSFB). Most problematic for the quarter, said analysts, were “unpredictable” political and regulatory risks, which, combined with lower gas prices, had a negative impact.
June 28, 2001
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