Traders Mull Slew of Gas Market Events; Contract Losing Altitude

摘要

Energy traders had a lot to digest last week as Congress passed measures to regulate over the counter markets, Ac-cuWeather's Hurricane Summit forecasted a somewhat active tropical season, and In-tercontmentalExchange went blank. Meanwhile, June gas is showing signs of weakness as storage inventories grow. Last week, Congress passed a measure to close the so-called "Enron loophole" that has allowed electronic over-the-counter (OTC) markets, where 80% of US energy commodities are traded, to go unregulated.