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Unless revised, the Commodity Futures Trading Commission’s (CFTC) proposed rulemaking on position limits for derivatives would have the unintended consequence of needlessly limiting commodity trading and harming liquidity and price discovery in the derivatives markets, the Natural Gas Supply Association (NGSA) and the National Corn Growers Association (NCGA) said in comments filed at the CFTC Monday.

CIG implemented a Strained Operating Condition (SOC) Wednesday that it expected to remain in effect “through the end of September, unless specifically terminated sooner.” Storage inventories are at or near reservoir guidelines, CIG said, and thus its “ability to absorb imbalances caused by mismatches between scheduled receipts and deliveries or those imbalances arising from variations in actual gas flow from scheduled quantities is extremely limited.” The limitation includes capacity to handle storage injections in excess of each customer’s Available Daily Injection Quantity or inventory levels above Maximum Available Capacity. During the effective period of the SOC capacity for interruptible storage injections will not be available, CIG said.

Unless there is a drastic turn in the weather in the closing days of the year, 2007 will be one of the 10 warmest years the contiguous United States has experienced since national records began in 1895, according to preliminary data from the National Oceanic and Atmospheric Administration’s (NOAA) National Climatic Data Center. The global surface temperature for 2007 is expected to be the fifth warmest since worldwide records began in 1880, NOAA said.

Unless there is a drastic turn in the weather in the closing days of the year, 2007 will be one of the 10 warmest years the contiguous United States has experienced since national records began in 1895, according to preliminary data from the National Oceanic and Atmospheric Administration’s (NOAA) National Climatic Data Center. The global surface temperature for 2007 is expected to be the fifth warmest since worldwide records began in 1880, NOAA said.

Despite some bearish fundamentals gas prices remain strong, but unless some significant winter-like weather shows up in the next 30-45 days the gas market “has the possibility to really sell off meaningfully,” the manager of hedge fund Terra Verte Trading LP said last week.

Despite some bearish fundamentals gas prices remain strong, but unless some significant winter-like weather shows up in the next 30-45 days the gas market “has the possibility to really sell off meaningfully,” the manager of hedge fund Terra Verte Trading LP told conference attendees Monday.

Unless the price of natural gas falls sharply, New England likely will depend heavily on it as the main fuel for electricity production for the next 20 years, according to an analysis issued Thursday by ISO New England.

Unless the price of natural gas falls sharply, New England likely will depend heavily on it as the main fuel for electricity production for the next 20 years, according to an analysis issued on Thursday by ISO New England.

Upon clarification by Calypso U.S. Pipeline LLC, FERC earlier this month reversed its position in a January order and said the company could proceed with the construction of 10 miles of its proposed offshore Florida pipeline when an affiliate’s proposed deepwater liquefied natural gas (LNG) port, with which it would interconnect, obtains a green light from the U.S. Maritimes Administration (MARAD).