If at First You Do Not Succeed, Try Again In Access Trading

For the second day in a row the futures market openeddramatically higher en route to posting a $2.08 daily high in thefirst hour of trading. And similar to Wednesday’s topsy-turvysession, no new buying was seen to help lift the May contract overresistance in the $2.07-09 area, which paved the way forprofit-taking activity yesterday afternoon. However in contrast tothe day prior, Thursday’s trading saw a late rally, which buoyedthe market into settlement and put a positive spin on the day’sevents. The May contract finished up 4.5 cents to $2.069.

April 9, 1999

El Paso, Sonat to Claim Top Spot Among U.S. Pipelines

Western-based El Paso Energy, which lassoed Tennessee Gas Pipeline and a route to New England three years ago, rode into the Southeast last week, announcing it will acquire Sonat and its Southern Natural Gas Pipeline in a $6 billion deal.

March 22, 1999

Futures Spike in Technical Correction

The futures market wasted little time in continuing higherMonday, gapping higher on the open en route to a technicalcorrection that left the September contract up 16.4 cents to settleat $2.041. Sources said Monday’s rally was follow-through buying onthe heels of Friday’s strong close coupled with “nervousspeculators” covering sizeable short positions. Estimated volumeconfirmed the active trading with an estimated 83,239 contractschanging hands.

August 18, 1998

Millennium Project to be Delayed Until November 2000

Millennium Pipeline yesterday joined a growing crowd of pipelineexpansions and projects that are being delayed until 2000. Thecompany informed the Federal Energy Regulatory Commission of therevised project schedule, which calls for some portions of the442-mile pipeline to be constructed in 1999, the balance beingbuilt the following year and service by November 2000. IndependencePipeline, a Millennium competitor, announced a similar delayearlier this year, and Alliance Pipeline said it too was forced toput off transportation services until winter 2000.

June 4, 1998
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