Author:
Oro as far left kook
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Date Posted: 17:17:07 01/25/07 Thu
In reply to:
Curm as liberal
's message, ""Bush did it."" on 16:59:13 01/24/07 Wed
>>oh gee the coldest weather to hit and longer than
>>expected.
>>
>>
>>
>>href="http://wiadomosci.onet.pl/1471308%2C10%2C1%2C0%2
>C
>>120%2C686%2Citem.html">http://wiadomosci.onet.pl/14713
>0
>>8%2C10%2C1%2C0%2C120%2C686%2Citem.html
>>
>>CALGARY (Dow Jones)--Natural gas futures rose Tuesday,
>>with traders covering positions on forecasts of
>>persisting cold winter in the U.S. Midwest, likely
>>increasing demand for gas as heating fuel.
>>Front-month February natural gas futures on the New
>>York Mercantile Exchange settled at $7.597 a million
>>British thermal units, up 27.8 cents.
>>
>>The last time the market closed higher was Dec. 14 at
>>$7.673/MMBtu. Weather forecasts released Thursday
>>suggested that the cold weather expected to hit the
>>U.S. Midwest between Jan. 28 and Feb. 1 will now
>>persist longer than previously expected. One model run
>>by meteorologists at MDA's EarthSat Weather Group in
>>Rockville, Md., forecasts "the coldest outbreak in
>>years" for large parts of the U.S. between Feb. 2-6.
>>
>>The expectations were bringing strength to the gas
>>market, which could test $8.00/MMBtu in coming days,
>>said Jim Ritterbusch, president of Ritterbusch &
>>Associates in Galena, Ill.
>>
>>"The market will remain bullish in the near term until
>>there's some evidence that the stubborn cold will
>>shift," he said. "Until we get that, the price will
>>hold up pretty well."
>>
>>Meanwhile, private forecasters WSI Corp in Andover,
>>Mass., predicted that temperatures from February
>>through April will be warmer than normal. However, WSI
>>said it would revise its forecast by week's because of
>>the expected low temperatures in early February.
>>
>>As well as the weather concerns, strength in the
>>physical gas market is supporting the front end of the
>>gas futures curve, while some strength is also
>>spilling over into gas from crude futures, said a
>>Calgary-based trader. Front-month crude futures
>>settled at $55.04 a barrel, rising on cold weather and
>>violence in Nigeria, after dropping to a 20-month low
>>of less than $50 a barrel last week.
>>
>>"Weather is the key to the strength in the gas market,
>>but crude is having a little bit of an effect too," he
>>said.
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