Shot

Natural gas futures bulls put Tuesday in the win column as the January contract shot up 44.3 cents to close at $5.737 on the news that January might not be as warm as many had previously expected. However, some traders weren’t ready to put bull’s horns on yet, chalking up Tuesday’s gains to short-covering by funds unless proven otherwise over the next few trading sessions.

John Norris, chairman of the Iowa Utilities Board (IUB) and a close friend of President-elect Obama, has a “pretty good shot” at becoming a FERC commissioner, if not the chairman “down the road,” Washington sources said last Tuesday.

John Norris, chairman of the Iowa Utilities Board (IUB) and a close friend of President-elect Obama, has a “pretty good shot” at becoming a FERC commissioner, if not the chairman “down the road,” Washington sources said Tuesday.

The Alabama governor has once again shot down a proposal for a liquefied natural gas (LNG) receiving terminal off the state’s coast, this one a proposed 1.2 Bcf/d deepwater port, the Bienville Offshore Energy Terminal, which already had received a final environmental impact statement (FEIS) from FERC.

The Alabama governor has once again shot down a proposal for a liquefied natural gas (LNG) receiving terminal off the state’s coast, this one a proposed 1.2 Bcf/d deepwater port, the Bienville Offshore Energy Terminal, which already had received a final environmental impact statement (FEIS) from FERC.

Crude oil prices have shot up this year not because of excessive speculation but because demand has outstripped supply, Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee last Tuesday.

Crude oil prices have shot up this year not because of excessive speculation but because demand has outstripped supply, Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee Tuesday.

After the May natural gas futures contract inexplicably shot 30.1 cents higher on Monday, traders on Tuesday corrected the situation, but they waited until the last minute to do so. The prompt month ended up closing out Tuesday’s regular session at $9.724, down 37.7 cents from Monday’s finish.

Prompt-month natural gas futures shot exactly 18.1 cents higher for a second consecutive session Friday as traders and analysts debated without consensus the reasoning for the renewed bout of strength. After reaching a high of $7.985, the February natural gas contract — which expires Tuesday — closed out the day at $7.983, just a penny short of the previous Friday’s finish.