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  • Energy Excerpts (the coming storm)

    05/06/2003 12:02:45 PM PDT · by BOBTHENAILER · 32 replies · 383+ views
    Excerpted from paid subscription (O & G Industry) | May 6, 2003 | Unknown
    June (NYMEX) soars 43.4 cents Heating demand in the Northeast and cooling demand in the South and West combined to spark a huge rally on the June NYMEX futures contract, which surged 43.4 cents on Monday to settle at $5.689/MMBtu. Alaron Trading analyst Phil Flynn said low gas storage inventories also were a supporting factor in Monday's run-up. "The market is vulnerable to the supply side of the equation. The supply issue is still at the back of traders' minds." he said. Heating-degree days were higher than originally forecast, said IFR Pegasus analyst Timothy Evans, and a stronger petroleum complex...