Caught in a mix of short-covering and a delayed reaction to supportive storage news released Thursday, the natural gas futures market turned modestly higher Friday to break the string of losing sessions.
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Williams Revises Upward 2003 Income on Better Power Segment Profit
Williams said Monday that its 2003 income was better than first reports last month because of adjusted earnings from its power business. The company said it recorded an additional $12 million, or 2 cents per share, in after-tax income for 2003.
Williams Revises Upward 2003 Income on Better Power Segment Profit
Williams said Monday that its 2003 income was better than first reports last month because of adjusted earnings from its power business. The company said it recorded an additional $12 million, or 2 cents per share, in after-tax income for 2003.
Northeast May Stay Firm; Softness Expected Elsewhere
Cash prices continued to be propelled upward Tuesday by an unseasonably late blast of winter weather in the northeastern quadrant of the U.S. that even sent a touch of mild morning chill far enough south to be felt by traders in Houston.
CA Power Buys Trend Up in Spot Volumes, Prices
Volumes and prices for spot market wholesale electricity purchases by California’s Department of Water Resources (DWR) shifted upward over the last two months of 2002, according to statistics released Tuesday by DWR’s Sacramento office. Spot purchases exceeded 1 million MWh (1.056 million MWh) in December, 2002, at an average cost of $43/MWh, in contrast to the previous month when spot purchases hit 906,000 MWh, at an average cost of $38/MWh.
Lingering Cold, Screen Lead to Cash Rebounds
Wednesday’s general market softness was merely a lull in this week’s upward march of prices. Nearly all points were back on the rise Thursday, with the exception of a few small downturns in the Rockies and at scattered other points. Most gains were in the teens, bracketed by some in single digits and others of 20 cents or more in the Northeast, led by Algonquin citygate spikes of about 60 cents that included a peak quote of $9.25.
Price Increases Almost Halt Prior to ‘The Big Chill’
This week’s upward march in prices didn’t end Wednesday but did come to a near-standstill. Only Rockies gains of 8-15 cents or so stood out from the vast majority of points that ranged from flat to up about a nickel. Most of those rose less than a nickel, and small declines at about half a dozen scattered points figured into the mix.
Canadian Gas Exports Inch Upward
After a four-month setback, Canadian natural gas exports are back on the growth track that set 14 annual sales records until the “continental market” took a turn downward last winter. Exporters turned the corner in March, according to records kept on the trade with the United States by the National Energy Board.
Screen Support Peters Out, But Cash Prices Keep Rising
Even with futures no longer pointing out an upward path, the cash market continued to forge ahead Wednesday with new gains that remained mostly in double digits. As on the day before, a large majority of increases were between about a dime and 15 cents.
CA Gas Expert Perplexed by Gas Price Swings
Last week’s sudden jolt upward in spot natural gas prices on anticipation of a cold winter was another indication of the “fickleness” of the market, according to the California Energy Commission’s chief natural gas watcher, Bill Wood, who was dismayed by the latest price swing last Tuesday.