Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Nello Filippone who wrote (80444)	11/30/2000 6:46:39 PM
From: The Ox	Read Replies (2) \| Respond to of 95453

Count me in, too. I did some nibbling today. By Gloria Gonzalez, BridgeNews New York--Nov. 30--November natural gas cash prices for next day delivery soared on strong demand for physical natural gas due to cool temperatures in the Northeast and Midwest for the next few days and a tight power market in the West. * * * NYMEX Jan Henry Hub natural gas futures settled up 40.8 cents at $6.589 per MMBtu cents after scoring a new all-time spot month high of $6.730 on a private forecast that called for cooler weather in the Midwest and lingering bullish sentiment about the latest storage data. A break of key technical levels, namely the previous spot month high of $6.620 and Jan's contract high of $6.680, added fuel to the rally. Strong physical demand was seen in the cash market with the Henry Hub trading about 35 to 40 cents higher this morning. "We had buyers coming out of the woodwork," one cash trader said. Natural gas prices at western points are still strong as the power market in the west remains tight, mainly due to outages at several key nuclear units in the region. Topock (Southern California border) prices hit the $20 mark and have traded in a range of $17.50 to $20.50 Thursday due to tight power supplies in California. "I think we had a glorious peak today," another trader said, adding that cash prices would probably slide ahead of the weekend Friday. U.S. Gulf natural gas traded in a range of $6.14 to $6.40 per MMBtu, up 34 to 40 cents when compared to Wednesday's range of $5.74 to $6.06 per MMBtu. Midcontinent natural gas traded at $6.03 to $6.34 per MMBtu, up 32 to 34 cents when compared to Wednesday's range of $5.71 to $6.00. Western gas traded in a wide range of $6.21 to $20.00 per MMBtu, up 60 cents to $2.00 when compared to Wednesday's range of $5.61 to $18.50 per MMBtu. In Canada, day gas at Nova's AECO-C Hub traded in a range of C$8.10 to $8.40 per gigajoule when compared to Wednesday's C$7.80 to C$7.90 range. TransCanada reported Alberta line-pack at 13.647 bcf, with the pipeline packing at a rate of 135 MMcf/d. Relatively cool weather will affect much of the eastern half of the country through this weekend. No extreme cold is expected, but heating demands will be above average in most locations. The western half of the country will experience milder weather and near- or below-normal heating needs. End