Storm

Weather or Not…..Futures Are in a Slump

As yet another storm in what is shaping up to be one of thesnowiest winters on record pummeled New England Friday, natural gasfutures spiraled higher only to reverse lower at mid-day as tradersstared ahead at bearish intermediate-term temperature and storageoutlooks. The May contract tumbled lower under the considerableselling pressure to close at $5.025, leaving the prompt month witha 24.9-cent loss to conclude the week. Considering the size of theprice move, volume was relatively weak as less than 60,000contracts changed hands.

April 2, 2001

Most Points Mildly Softer, But Cal Border Keeps Rising

Despite prospects for a potentially severe winter storm in theNortheast and moderate screen firmness, the cash market generallyranged from flat to down about 20 cents Friday, as falling weekenddemand made an impact. Northern California numbers retreated fromThursday’s spike, but the Southern California border tacked on morethan $2.50 to its market-leading average.

March 5, 2001

Storm Fears Help Send Futures, Most Cash Points Higher

Slightly cooler temperatures in many major eastern marketregions dropped cooling demand a few notches yesterday, but alleyes quickly turned to the northwestern Caribbean Sea whereTropical Depression 11 appeared poised for a weekend visit to theGulf of Mexico.

September 15, 2000

El Paso Merchant Energy Braves the Storm

There’s no denying that El Paso Natural Gas has a bad habit ofattracting controversy, but its latest move seems a bit moremasochistic than usual.

February 17, 2000

Prices Still Rising; Rodent Says 6 Weeks of Winter Left

After all the winter storm excitement in recent weeks, themarket appeared to be growing calmer Wednesday yet still managed tokeep pushing prices higher. Most of the upticks were between anickel and a little over a dime, with the Northeast remaining thebastion of dollar-plus increases.

February 3, 2000

Prices Surge Amid Widespread Deep Freeze

A winter storm sweeping through the South, along with freezingtemperatures expected to last through the weekend in much of theU.S. from the Rockies eastward, resulted in rising prices at nearlyall points Friday.

January 31, 2000

Surprise Snow Puts Bulls in Buying Mood

Fueled by the East’s worst winter storm in four years, naturalgas futures erupted higher at the open yesterday as tradersestablished new longs with confidence.

January 26, 2000

Marketer Bankruptcy Puts GA Customers in Limbo

Friday represented the eye of the storm for Georgia’s gasindustry, as Atlanta Gas Light (AGL), the state’s largestdistributor, and Peachtree Natural Gas, the bankrupt supplier to177,000 gas customers, brokered an interim solution to theirproblems at a federal bankruptcy court hearing. The hearing was aresult of an earlier AGL filing with the bankruptcy court, seekingto distribute Peachtree’s customers to other, “more creditworthy”suppliers.

November 1, 1999

GA Bankruptcy Hearing Yields Temporary Solution

Friday represented the eye of the storm for Georgia’s gas industry,as Atlanta Gas Light (AGL), the state’s largest distributor, andPeachtree Natural Gas, the bankrupt supplier to 177,000 gas customers,brokered an interim solution to their problems at a federal bankruptcycourt hearing. The hearing was a result of an earlier AGL filing withthe court, seeking to distribute Peachtree’s customers to other, “morecreditworthy” suppliers (see Daily GPI, Oct29).

November 1, 1999

Nymex Expiration Day: Calm Before Storm

After opening just below Tuesday’s close, the May futurescontract chopped lazily sideways yesterday before eking out a smallgain before the close. In fact, yesterday’s price action was sosubdued it was hard for some traders to believe it was expirationday at the New York Mercantile Exchange. The May contract completedits tenure as prompt month, expiring at $2.348, up 1.7 cents forthe day.

April 29, 1999