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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (33467)	7/9/2004 6:00:23 AM
From: quehubo	Respond to of 206097

The energy markets revolve around what the EIA oil data indicates. Their data within the USA is as good as it gets. Now their analysis of what future production, world demand and OPEC supply is usually behind the curve. For NG they are generally not even in the ball park. The economy may slow with higher oil prices, but the incremental demand is being set by Asians. With new production hard to get by the US economy will have to adapt. You mean the consumer economy, what about manufacturing? No signs of slowing down there.

To: excardog who wrote (33467)	7/9/2004 11:04:43 AM
From: profile_14	Respond to of 206097

N.Y. Natural Gas Falls on Seasonal Weather, Adequate Storage 2004-07-09 10:21 (New York) N.Y. Natural Gas Falls on Seasonal Weather, Adequate Storage By Jim Kennett July 9 (Bloomberg) -- Natural gas traded in New York fell for a third day as forecasts for normal weather across much of the country signals that supplies meant to be stored for next winter won't be diverted to power plants. Normal temperatures are expected across most of the country from July 14 to 18, the National Weather Service said. Seasonal weather means less demand for electricity from gas-fired power plants and more available for storage. The Energy Department yesterday said inventories rose by 109 billion cubic feet last week, 4 billion more than the highest estimate from 21 analysts. ``The weather forecasts just continue to show no significant heat,'' said Kyle Cooper, a Citigroup Inc. energy analyst in Houston. ``For those who have called for this incredible tightness in the summer, boy, that 109 sure puts a damper on that statement.'' Gas for August delivery fell 8.5 cents, or 1.4 percent, to $6.10 per million British thermal units at 10:10 a.m. on the New York Mercantile Exchange. Prices are down 0.7 percent this week. Floor trading on the exchange will be closed from 11 a.m. to 11:30 a.m. local time for a fire drill, spokeswoman Jenifer Semenza said. The storage gains last week sent inventory levels 1.2 percent above the five-year average for the week, the Energy Department said. Inventories now sit at 2.047 trillion cubic feet, 13 percent above year-ago levels. Peak Power Most electricity in the U.S. is produced by so-called base- load plants that are nuclear or coal-fired, while other regions depend heavily on hydroelectric generation. Demand for summer power from gas-fired plants is most vital when temperatures push air-conditioning use higher than the base-load plants can handle. Temperatures in New York are expected to drop to 80 degrees Fahrenheit (27 Celsius) next weekend, 5 degrees below normal, according to Accuweather Inc. Government weather forecasters are predicting below-normal to normal temperatures across all but parts of the western U.S. from July 16 to 22. The forecasts suggest ``August may be the market's last chance at heavy air-conditioning demand,'' Tim Evans, senior energy analyst with IFR Markets in New York, said in a note to clients. --Editor: Banker. Story illustration: To graph the front-month Nymex contract, see {NG1 <Cmdty> GP D <GO>}. For a slide show of natural-gas data, see {CNP 09101550204 <GO>}. Press the space bar to pause the tour and <GO> to resume. To contact the reporter on this story: Jim Kennett in Houston at (1) (713) 353-4871 or jkennett@bloomberg.net To contact the editor of this story: Robert Dieterich at (1) (212) 893-4485 or rdieterich@Bloomberg.net. -0- Jul/09/2004 14:21 GMT