TradeSpark LP resumed full electronic trading operations last week for all energy commodities from its back-up offices in New Jersey, only two weeks after its main offices in the World Trade Center were destroyed by terrorists.
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TradeSpark Resumes Full Trading Operations
TradeSpark LP said it is resuming full electronic trading operations for all energy commodities from its back-up offices in New Jersey, only two weeks after its main offices in the World Trade Center were destroyed by terrorists.
House Energy Panel Resumes CA Energy Bill Markup
Fresh from their recent recess, House Democrats and Republicans who sit on the House Energy and Commerce Committee this morning will take another crack at marking up legislation designed to provide relief to the troubled California wholesale energy markets. A Capitol Hill aide expressed confidence that the bill will be voted on today by the full committee.
CA Resumes Power Alerts
California energy officials declared another power alert Mondayas statewide electricity reserves threatened to dip below 7% in theface of near-record cold weather power demand and more than 11,000MW out of service, about 4,000 MW of which were on an unplannedbasis. Part of the unplanned loss of generation capacity wasattributed to a transmission breakdown in the San Joaquin Valley onpart of Pacific Gas and Electric Co.’s system.
Prices Ease as 700 MMcf/d Resumes Flow on El Paso’s South Line
Less than two weeks after the deadly explosion on El PasoNatural Gas’ system in southeastern New Mexico, the pipeline onFriday had more than 700 MMcf/d of capacity restored to its SouthMainline, which is designed to feed a total of 1.1 Bcf/d to marketsbetween Texas and California.
Post DuPont, Conoco Resumes Advertising
Houston-based Conoco, which recently came out from under thewing of DuPont, launched a corporate advertising campaign that willtout its ability to compete against the “super-majors.” Conococompleted its separation in August and returned to the New YorkStock Exchange, trading under the symbols COC.A and COC.B.
Post DuPont, Conoco Resumes Advertising
Houston-based Conoco, which recently came from under the wing ofDuPont, launched a corporate advertising campaign that will toutits ability to compete against the “super-majors.” Conoco completedits separation in August and returned to the New York StockExchange, trading under the symbols COC.A and COC.B.
Market Takes Back Gains; Resumes Downtrend
All indications pointed to the futures market continuing higheron Wednesday: gains posted in the Tuesday evening Access session, awell bid over the counter market Wednesday morning, and inertiacoming off two days of advances. But when the market openedyesterday a vital component was missing, prompting a beleagueredbull to say “the buyers just didn’t show up [Wednesday] morning.”The September contract meandered down from its open, slipping 2.2cents to close at $2.873.
Short-Covering Rally Resumes at Nymex
As if taking a cue from the professional basketball team inChicago, the bulls of natural gas were on top again last week atNymex. A short-covering rally that began Wednesday resumed Fridaysending the July contract to $2.284, a 14-cent increase for theday. Estimated volume was a robust 99,631.