Toppled

The weather forecasters say Lilli, a category 4 when it went through the Gulf of Mexico production area, could rival Andrew, a category 5 hurricane in 1992 that devastated a wide swath of Florida before cutting across the Gulf, toppling 34 oil and gas platforms, leaving 28 leaning, and causing over a billion dollars in damage, not counting the loss of production revenue (see NGI’s storm chronicle — located under special reports on intelligencepress.com).

The weather forecasters say Lilli, a category 4 as of Wednesday evening, could rival Andrew, a category 5 hurricane in 1992 that devastated a wide swath of Florida before cutting across the Gulf of Mexico, toppling 34 oil and gas platforms, leaving 28 leaning, and causing over a billion dollars in damage, not counting the loss of production revenue (see NGI’s storm chronicle — located under special reports on intelligencepress.com).

The gas futures market toppled its Berlin Wall last week, atechnical downtrend that has confined trading since December 1996.A number of fundamental factors, including tightening supply,peaking cooling demand and some very significant technicalindicators, conspired to boost the near month contract up 34.1cents to $2.528/MMBtu and the 12 month strip up 19 cents to $2.61from the previous Friday.

The gas futures market toppled its Berlin Wall last week, atechnical downtrend that has confined trading since December 1996.A number of fundamental factors, including tightening supply andpeaking cooling demand, and some very significant technicalindicators conspired to boost the near month contract up 34.1 centsto $2.528/MMBtu and the 12 month strip up 19 cents to $2.60 fromthe previous Friday.