Putting

After putting through two state regulator-approved natural gas cost adjustment rate increases collectively totaling 30%, Bellevue, WA-based Puget Sound Energy is gearing up this fall for increased relief for its low-income, or near-low-income customers.

Putting hurricane worries aside for at least the weekend, traders bowed Friday to near-term forecasts of mild to cool weather in most of the U.S. and Canada and the bearish day-later reverberations of a storage injection report that wasn’t much shy of 100 Bcf. Nearly all points recorded double-digit losses; the overall range was from less than a dime to 30 cents.

Natural gas producers and marketers last week called on FERC to reject a tariff proposal that they claim would allow Kern River Gas Transmission Co. to set a minimum term on available transportation capacity posted for bid when the pipeline wishes to reserve capacity for a future expansion project.

Natural gas producers and marketers called on FERC to reject a tariff proposal that they claim would allow Kern River Gas Transmission Co. to set a minimum term on available transportation capacity posted for bid when the pipeline wishes to reserve capacity for a future expansion project.

There is a growing consensus among market observers that working gas levels in storage could fall sharply this winter possibly to near historic lows by April, but several veteran industry analysts warn against crying “the sky is falling” too soon. They say the current amount of working gas in storage appears adequate to handle this winter’s demand, particularly when compared to average storage levels in the mid-1990s.

There is a growing consensus among market observers that working gas levels in storage could fall sharply this winter possibly to near historic lows by April, but several veteran industry analysts warn against crying “the sky is falling” too soon. They say the current amount of working gas in storage appears adequate to handle this winter’s demand, particularly when compared to average storage levels in the mid-1990s.

Warmer weather currently is putting downward pressure on gas prices, but some market observers believe a sudden cold snap could quickly and dramatically change the picture for this winter’s market. Consultants at Wakefield, MA-based Energy Security Analysis Inc. say while a $10 peak is unlikely, $6/MMBtu certainly is possible. However, Tim Evans, futures analyst with IFR Pegasus, believes the market already hit its winter peak, the $4.44/MMBtu reached last week by the December contract.

Warmer weather currently is putting downward pressure on gas prices, but some market observers believe a sudden cold snap could quickly and dramatically change the picture for this winter’s market. Consultants at Wakefield, MA-based Energy Security Analysis Inc. say while a $10 peak is unlikely, $6/MMBtu certainly is possible. However, Tim Evans, futures analyst with IFR Pegasus, believes the market already hit its winter peak, the $4.44/MMBtu reached last week by the December contract.

Net quarterly losses were reported by ConocoPhillips, in its first financial report since completing its merger, and Amerada Hess last Thursday, putting downward pressure on major oil shares. Hess shares fell more than 11% to $58.54 by mid afternoon, while ConocoPhillips shares were down only about 2% to $47.20 because the charges were expected and its results from continuing operations were in line with Wall Street forecasts.