Squared

State officials squared off with House subcommittee Democrats last Thursday over the role, if any, that the Obama administration should have in regulating hydraulic fracturing (fracking).

State officials squared off with House subcommittee Democrats Thursday over the role, if any, that the Obama administration should have in regulating hydraulic fracturing (fracking).

Futures continued to work lower Tuesday as weather forecasts softened and funds and managed accounts squared their books. Traders see a fall below $4 as virtually inevitable and expect continued weakness. At the close March futures fell 6.4 cents to $4.040 and April dropped 6.8 cents to $4.072. March crude oil shed 54 cents to $86.94/bbl.

Nearby futures gained modestly and more deferred contracts posted narrow losses Monday as traders squared their books prior to Tuesday’s options expiration and Wednesday’s futures termination.

At least one of the proponents competing to build California’s first liquefied natural gas (LNG) receiving terminal has squared off in a state regulatory proceeding with Sempra Energy’s two utilities over future transmission rights for getting regasified LNG into the utilities’ backbone transmission pipeline system in Southern California.

At least one of the proponents competing to build California’s first liquefied natural gas (LNG) receiving terminal has squared off in a state regulatory proceeding with Sempra Energy’s two utilities over future transmission rights for getting regasified LNG into the utilities’ backbone transmission pipeline system in Southern California.

Natural gas producers and interstate pipelines squared offagainst each other at FERC’s symposium on reform of its complaintprocess Monday. Both sides agreed that expedited handling ofcomplaints by the Commission was a top priority, but they partedsharply on the need for formal complaints to be processed anddisposed of by FERC by certain deadlines.