October natural gas futures went off the board on Tuesday with a whimper as the contract traded in a range of just more than a dime before expiring at $3.837, up 3.7 cents from Monday’s close. Taking over as the new front-month contract, November futures added 3.5 cents Tuesday to finish at $3.951.
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Futures Trade in Dime Range Monday Before Settling 1.5 Cents Lower
Starting off the week with more of a whimper than a bang, natural gas futures traders pushed the April contract within a slim 10-cent range between $7.200 and $7.3000 before the contract closed out the regular trading session at $7.254, down 1.5 cents from Friday’s close. May natural gas dropped 2.3 cents to finish at $7.383.
April Natgas Trades in Slim 6-Cent Range Before Closing Lower
Starting the week with more of a whimper than a bang, April natural gas futures on Monday traded within an anemic 6-cent range between $6.820 and $6.880 before settling at $6.847, down 7.7 cents for the day. While activity in natural gas ring was muted, the front spread in crude futures continued to widen to eye-opening levels.
April Futures Exits Softly on Three-Cent Drop
With the April futures contract terminating with a whimper instead of a wail, market-watchers were forced to turn their attention Monday to other things such as the current natural gas storage situation, including estimates for this week’s report. The April futures contract closed its doors for good Monday at $5.365, down only three cents on the day. Of more significance, the contract’s trading range for the session was incredibly tight at just 5.5 cents.
ANWR Bill Gets Just One Vote in Senate
“Not with a bang, but a whimper” best describes the Senate demise of possible energy legislation this year. The vote was 94 to one Monday night to refuse to bring to a vote a diluted version of energy legislation passed earlier this year in the House.
TransAmerican Settles With El Paso, Coastal
“Not with a bang, but a whimper” the $7.5 billion lawsuit filed by TransAmerican Natural Gas against merging giants Coastal Corp. and El Paso Natural Gas, slid to a quiet grave under a sealed settlement agreement last week.
TransAmerican Settles with El Paso, Coastal
“Not with a bang, but a whimper”…the $7.5 billion lawsuitfiled by TransAmerican Natural Gas against merging giants CoastalCorp. and El Paso Natural Gas, slid to a quiet grave under a sealedsettlement agreement.
CA Regulators Grant PG&E Scaled-Down Rate Increase
With a relative whimper, not a bang, a major rate case forPacific Gas and Electric Co. ended last Thursday with Californiaregulators on a 3-2 vote giving the utility about one-third of whatit originally requested. The raise still is quite large, however,at $229 million/annually, including a 6% hike in gas rates. Thehike amounts to about another $20/year for the typical residentialcustomer. Electric rates were hiked by $136 million/year, but therewill be no change in those rates because of the ongoing rate freezethat’s been in effect since 1996 as part of the state’s electricindustry restructuring.
CA Regulators Grant PG&E Belated, Scaled-Down Rate Hike
With a relative whimper, not a bang, a major rate case forPacific Gas and Electric Co. ended last Thursday with Californiaregulators on a 3-2 vote giving the utility about one-third what itoriginally requested. The raise still is quite large, however, at$229 million/annually, including a 6% hike in gas rates. The hikeamounts to about another $20/year for the typical residentialcustomer. Electric rates were hiked by $136 million/year, but therewill be no change in those rates because of the ongoing rate freezethat’s been in effect since 1996 as part of the state’s electricindustry restructuring.