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Diaz Resources Ltd V.DZR



TSXV:DZR - Post by User

Bullboard Posts
Post by scissors14on Jan 10, 2006 6:23pm
234 Views
Post# 10145639

Natural gas drops almost 7% at close

Natural gas drops almost 7% at close[Although these “surprise” increases in inventory are relatively small and do not change the long-term picture for natural gas supplies by much, they are serious indications that the energy markets are being fraudulently manipulated just as we know the stock markets and the price of gold have been. Actual damage figures from the hurricanes indicate that the natural gas picture should be far worse than this report indicates (see below). This is all to the benefit of energy traders and the detriment of consumers. The US may make it through this winter with far less pain than we expected would come in the wake of Katrina and Rita in spite of the significant damage we’ve already seen but that makes the picture for 2006 even worse. However, those who criticize us “alarmists” for “crying wolf” miss the point of that fable entirely. First, based upon what appeared to be good data those who warned about natural gas supplies were not unjustified in their warnings. Second, at the end of the fable – as pointed out by a speaker at the ASPO-USA conference in Denver last fall – there really was a wolf and he really did eat people. – MCR] Natural gas drops almost 7% at close Supplies unexpectedly rise; crude prices fall By Myra P. Saefong, MarketWatch Last Update: 4:07 PM ET Jan. 5, 2006 https://tinyurl.com/9nmve In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. SAN FRANCISCO (MarketWatch) -- Natural-gas futures finished Thursday with a loss of almost 7%, closing at the lowest level in more than five months after a U.S. report showed that inventories of the heating fuel unexpectedly climbed last week. Crude futures followed natural gas lower, though it did trade higher at times Thursday as traders digested news of a smaller-than-expected decline in supplies and increases in distillate and motor gasoline stocks. U.S. natural-gas stocks rose 1 billion cubic feet for the week ended Dec. 30, the Energy Department reported Thursday. Market estimates had called for declines anywhere between 30 billion and 80 billion cubic feet. The increase is "the first recorded for this time of year," Randy Ollenberger, an analyst at BMO Nesbitt Burns, said in a research note. February natural gas dropped to a low of $9.39 per million British thermal units on the New York Mercantile Exchange before closing down 69.8 cents at $9.499 -- a closing level not seen since July 29. See chart. The contract rose to an all-time high of $15.78 on Dec. 13 so it was down as much as 40% from that peak. "Warmer-than-normal weather for much of the country has softened natural-gas demand over the holiday season and has caused natural-gas prices to drop significantly from their record highs," said Ollenberger. "The build recorded for the week compares to a five-year average draw for this time of the year of 90 billion cubic feet and a similar draw of 101 billion cubic feet recorded one year ago," said Ben Weagraff, an associate economist at Moody's Economy.com, in a weekly report issued after the data's release. Total stocks now stand at 2.641 trillion cubic feet, down 79 billion cubic feet from the year-ago level, but up 168 billion cubic feet from the five-year average, the government data said.
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