On the heels of bearish storage data released yesterday afternoon and ahead of the three-day weekend, gas futures tumbled lower for the second time in the last eight trading sessions Wednesday as speculative longs headed for the exits. The May contract was thehardest hit by the selling. It tumbled 17.4 cents to close at $5.385. Nearly as battered was the 12-month strip, which took back 15.2 cents of its recent advance toclose at $5.479.
Refill
Articles from Refill
Storage Injections Should Get Off to a Strong Start
Wall Street analysts continue to predict a rapid storage refill this summer and warn of the potential for a significantly bearish reaction in the market in the short-term. Analysts at Salomon Smith Barney (SSB) yesterday reiterated projections earlier in the week by Lehman Brothers that lower demand because of high prices will lead to sharply steeper storage injections this spring.
April 9, 2001
Lehman Raises Gas Price Forecast for 2001, 2002
Due to cold weather and falling U.S. production, it is likelythat the oil and gas industry will not be able to refill naturalgas storage for the winter of 2001-2002, according to a LehmanBrothers exploration and production update released last week. Thelow storage levels will likely force gas prices higher for aprolonged period of time, the report stated.
January 15, 2001
Lehman Raises Gas Price Forecast for 2001, 2002
Due to cold weather and falling U.S. production, it is likelythat the oil & gas industry will not be able to refill naturalgas storage for the winter of 2001-2002, according to a LehmanBrothers exploration and production update released yesterday. Thelow storage levels will likely force gas prices higher for aprolonged period of time, the report stated.
January 12, 2001
El Paso to Manage Mohawk’s Supply, Transportation Storage
El Paso Merchant Energy Co. will manage Niagara Mohawk PowerCorp.’s gas supply and storage refill program in a seven-monthasset management agreement announced last week. The agreement,signed April 1, gives El Paso Merchant management responsibilitiesover Niagara Mohawk’s existing term supply, interstatetransportation and underground storage. The total volume of gas tobe supplied over the term of the agreement is 40 Bcf. El PasoMerchant will handle storage for 20 Bcf.
June 5, 2000
El Paso Merchant Signs NE Supply Deal
El Paso Merchant Energy Co. will manage Niagara Mohawk PowerCorp.’s gas supply and storage refill program in a seven-monthasset management agreement announced yesterday. The agreement,signed April 1, gives El Paso Merchant management responsibilitiesover Niagara Mohawk’s existing term supply, interstatetransportation and underground storage. The total volume of gas tobe supplied over the term of the agreement is 40 Bcf. El PasoMerchant will handle storage for 20 Bcf.
June 2, 2000
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