While many expected the holiday-shortened trading session to be a quiet affair, February natural gas opened at $8.950 on Friday and steadily worked lower for a majority of the day. After putting in the day’s low of $8.740, the prompt month settled below $9 for the second consecutive session, finishing the week at $8.791, down 15.2 cents for the day and 84.1 cents lower than the previous Friday’s close.
Worked
Articles from Worked
Futures Threaten to Break Below $10 on Mild Weather, Low Storage Withdrawal Expectations
February natural gas futures worked lower in the overnight Access trading session to open at $10.285 and continued the down move in Wednesday’s regular session. The contract reached a low of $10.030, technically erasing the original Hurricane Katrina gap on the perpetual chart from Aug. 26 to Aug. 29, which spanned $10.075 to $10.650. February natural gas staged a small rebound in the afternoon to settle at $10.197, down 42.9 cents on the day.
Questar Chairman: Energy Bill Should Be ‘Flushed’
Although Sen. Pete Domenici (R-NM) “has worked hard to draft a coherent energy bill,” the stalled Senate energy measure in its current form needs to be “flushed,” Questar Corp. Chairman Keith O. Rattie said last Wednesday.
Questar CEO: Energy Bill Should Be ‘Flushed’
Although Sen. Pete Domenici “has worked hard to draft a coherent energy bill,” the stalled Senate energy measure in its current form needs to be “flushed,” Questar Corp. Chairman Keith O. Rattie said Wednesday.
Irving Oil Gains Regulatory Approval for New Brunswick LNG Project
Canadian-based refinery giant Irving Oil, which has worked for three years to build a liquefied natural gas (LNG) terminal in New Brunswick, said Friday it had received regulatory approval for its Multi-Purpose Pier Project.
Irving Oil Gains Regulatory Approval for New Brunswick LNG Project
Canadian-based refinery giant Irving Oil, which has worked for three years to build a liquefied natural gas (LNG) terminal in New Brunswick, said Friday it had received regulatory approval for its Multi-Purpose Pier Project.
People
Mark Leland has been named CFO of El Paso Corp.’s Production and Non-Regulated Operations. Leland, who has worked for El Paso for 18 years, most recently was senior vice president and CFO of El Paso Field Services, the company’s midstream business. While CFO for the Field Services unit, Leland was responsible for all finance, accounting and administrative functions. He also served as chief operating officer of GulfTerra Energy Partners LP, which recently merged with Enterprise Products LP. During his tenure at El Paso, Leland has held management positions in its Audit, Accounting, Budget and Corporate Development departments.
CPUC Nearing Compromise on Modified PG&E Settlement
A modified compromise on Pacific Gas and Electric Co.’s proposed bankruptcy settlement should be worked out before next Thursday’s crucial vote by the California Public Utility Commission. The revised deal probably will win the approval of the creditors’ committee and bankruptcy court judge, one of the five CPUC commissioners told NGI during an interview Thursday in the state panel’s Los Angeles offices.
Weak Shorts Boost Prices Friday as Analysts Assess Market’s Next Move
Greased by a higher opening, the natural gas futures market worked its way efficiently higher Friday as modest, but steady local and speculative short-covering promoted prices to their highest close in nine months. In addition to the chilly weather forecasts for the middle and end of the month, the market was rocked again Friday by the third increase in Nymex margin requirements in the last week. The January contract exploded 60.6 cents higher Friday to finish the week at $7.221.
CPUC Nearing Compromise on Modified PG&E Settlement
A modified compromise on Pacific Gas and Electric Co.’s proposed bankruptcy settlement should be worked out before next Thursday’s crucial vote by the California Public Utility Commission. The revised deal probably will win the approval of the creditors’ committee and bankruptcy court judge, one of the five CPUC commissioners told NGI during an interview Thursday in the state panel’s Los Angeles offices.