Gas market hiatus leads to $10.73/mmbtu at NYMEX
The
worst seems to have passed with Hurricane Katrina, writes Jackson
Mueller [jwmueller@attglobal.net].
Trading had been halted at NYMEX then trading started up at $10.73/mmbtu
for September contracts in part because light crude oil was trading at
$66.60/barrel and that works out to $10.74/mmbtu, for October.
NYMEX called the trading interruption a force majeure. It was the
last day of trading for September.
Light crude for October at NYMEX rose $2.12 to $68.25/barrel ($11/mmbtu).
Gas was going for $11.45/mmbtu for September 2005 contracts when
trading was halted, and that was up $1.658/mmbtu.
The NYMEX hadn't released information on this subject at
www.nymex.com/index.aspx
(Click here
to see table)
Originally published in
Restructuring Today on
August 30, 2005 |