Returning

After taking an odyssey higher for a majority of Tuesday on bullish news from the petroleum side, June natural gas futures ended up returning to within their mid-$6.40s to mid $6.70s range, which has acted as a comfort zone for the past nine regular trading sessions. Despite reaching a high of $6.84 on the day, the prompt month ended up settling at $6.694, up just 2 cents on the session.

Two new commissioners, Michael V. Dunn and Fred Hatfield, and one returning commissioner, Acting Chairman Sharon Brown-Hruska, were sworn in last Monday at the Commodity Futures Trading Commission (CFTC), the federal agency that regulates commodity futures and options trading in the United States. The term of Walter L. Lukken, a fourth CFTC commissioner, began in August 2002 and ends next April.

Two new commissioners, Michael V. Dunn and Fred Hatfield, and one returning commissioner, Acting Chairman Sharon Brown-Hruska, were sworn in Monday at the Commodity Futures Trading Commission (CFTC), the federal agency that regulates commodity futures and options trading in the United States. The term of Walter L. Lukken, a fourth CFTC commissioner, began in August 2002 and ends next April.

Two new commissioners, Michael V. Dunn and Fred Hatfield, and one returning commissioner, Acting Chairman Sharon Brown-Hruska, were sworn in Monday at the Commodity Futures Trading Commission (CFTC), the federal agency that regulates commodity futures and options trading in the United States. The term of Walter L. Lukken, a fourth CFTC commissioner, began in August 2002 and ends next April.

Gulf of Mexico producers and pipeline companies continued to make progress Tuesday repairing infrastructure damaged by Hurricane Ivan. The Minerals Management Service (MMS) said 22 companies reported that nine manned platforms and two rigs were still evacuated and 1,735.8 MMcf/d of gas and 453,092 bbl/d of oil were still shut in. Cumulative production shut-ins now stand at 67.861 Bcf of gas and 15.3 million bbl of oil.

The weather picture is still decidedly bearish in the Midwest and Northeast market areas, but the cash market was able to cobble together a substantial rebound at all points from last week’s five-day losing streak Monday. A fresh surge of activity on the Atlantic tropical storm front and a trend of gradually rising temperatures in the South starting Tuesday provided the main support for higher numbers.

BP plc remained atop the leader board for physical natural gas sales in North America in the first quarter, with 24.5 Bcf/d in gas sales, a 22% hike year-over-year. Sempra Energy retained second place, gaining 1% in gas sales over 1Q2003.

BP plc remained atop the leader board for physical natural gas sales in North America in the first quarter, with 24.5 Bcf/d in gas sales, a 22% hike year-over-year. Sempra Energy retained second place, gaining 1% in gas sales over 1Q2003.

Prices achieved increases at all points Friday as returning colder weather in several areas superseded day-earlier energy futures as a prime influence. Advances ranged from about a dime to about a quarter (largely mirroring Thursday’s declines); the bigger ones of about 20 cents or more were concentrated at Northeast citygates, while the West saw most of the smaller ones in the low teens.