The natural gas industry may have been absent from the negotiating table when the House drafted its landmark climate change legislation, but it and its supporters are expected to be front and center when the Senate takes up a companion bill this fall, Washington, DC, sources say.
Recouped
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Futures: Buy the Rumor, Sell the Refill
After a lower open at the bell yesterday, the futures marketmoved higher and easily recouped Tuesday’s losses. The Julycontract finished up 6.7 cents and in doing so registered anoutside up-day on the daily charts.
Futures Rebound Easily From Wednesday’s Dip
“It was like a bad dream,” was one marketer’s summation ofWednesday’s 4-cent decline that was quickly recouped by yesterday’s4.1-cent advance. Another trader was a little more specific,attributing the downward blip to funds rolling positions from Mayto June. But regardless of the rationale, Wednesday’s lowersettle-the first one in the last seven sessions-looked like theGrand Canyon nestled among the Alps.