In what was almost a direct reversal of Friday’s market, prices tended to fall Monday in most of the East while a majority of western points engaged in rallies. The return of industrial load from a weekend hiatus and hotter weather from the south-central states through the Southwest contributed to gains, while the softness could be attributed to the previous Friday’s screen decline and generally benign temperatures outside the southern U.S.
Reversal
Articles from Reversal
Lehman Analyst Sees Gas Prices Falling to Parity with Coal Around $5/MMBtu
The rumblings of a nasty gas market reversal can be heard loud and clear, said Lehman Brothers analyst Thomas Driscoll in a research note, predicting the current price collapse would continue into the summer.
NGI The Weekly Gas Market Report
Lehman Analyst Sees Gas Prices Falling to Parity with Coal This Summer
The rumblings of a nasty gas market reversal can be heard loud and clear, said Lehman Brothers analyst Thomas Driscoll in a research note, predicting the current price collapse would continue into the summer.
FERC Dismisses Challenges to Revised Negotiated-Rate Policy
FERC on Thursday dismissed challenges to a January order that, in a reversal of policy, signaled the agency’s willingness to allow interstate natural gas pipelines to use basis differential pricing in negotiated-rate transactions with shippers.
Hints of Bearish Price Turn Are Substantiated
The signs of a potential reversal in this week’s cash price run-up that began to surface Wednesday (see Daily GPI, Sept. 1) proved to be highly accurate. The September aftermarket, which had gotten off to a strong start the day before, was headed downhill in a hurry Thursday with losses ranging from about 30 cents to $2.60 or so.
Moderate Firmness Believed Coming to an End
The market was able to squeeze out one more day of moderate overall price increases Tuesday, but between a sharp reversal in energy futures and warming weather trends, sources don’t expect that to continue Wednesday.
Domenici, in Strategy Reversal, Offers Leaner Energy Bill as Stand-Alone Initiative
Chairman Pete Domenici (R-NM) of the Senate Energy and Natural Resources Committee has given up his quest to piggyback the broad energy measure on another legislative vehicle. Instead, he offered the energy measure (now S. 2095) as separate legislation Thursday.
Domenici, in Strategy Reversal, Offers Leaner Energy Bill as Stand-Alone Initiative
Chairman Pete Domenici (R-NM) of the Senate Energy and Natural Resources Committee last week gave up his quest to piggyback the broad energy measure to another legislative vehicle. Instead, he offered the energy measure (now S. 2095) as separate legislation on Thursday.
General Market Slumps, But New England Keeps Soaring
Even with the overall market making a sharp reversal Wednesday from the price spikes of the first two days of the week, New England citygates pushed to new highs as severe winter weather continued to intensify. The Algonquin citygate hit $12.00 at its high end in very volatile trading, while Iroquois Zone 2 and Tennessee Zone 6 peaked at $11.60 and $10, respectively.
Screen Reversal Expected to Erode Cash Firmness
All points joined Monday in rebounding from weekend softness, but except for sizable transportation constraint-linked gains of 30 cents or so at the Southern California border, San Juan Basin and the Rockies, other advances were more moderate at about 15 cents or less.