gas sales are at us spot prices, page-6

re: gas.........an interestin article If Henry Hub prices stay at these sort of levels ($US 19 plus) even for a few days, a weeks revenue for PSA would be equal to almost a month of revenue at last weeks prices! PSA have come on stream at exactly the right time.
"Washington: With natural gas prices spiking to record levels, federal regulators Tuesday began scrutinizing trading in the gas markets for indications of manipulation.

"We're the cops on the beat," said Kevin Cadden, a spokesman for the Federal Energy Regulatory Commission. Regulators noted the aberration in prices, "and we're taking a look."

Gas for delivery in March rose 44 cents, or 4.9 percent, Tuesday to close at $9.577 per thousand cubic feet on the New York Mercantile Exchange. It was a second day of wild price swings, with the benchmark natural gas contract hitting a record $11.89 in electronic trading overnight.

Those prices looked mild compared with the cash market for gas at the Henry Hub -- the delivery point in Louisiana for gas traded on the New York Mercantile Exchange. Cash prices at the Gulf Coast's benchmark hub rocketed up $6.38, or nearly 50 percent, Tuesday to hit an all-time high of $19.38 per thousand cubic feet.

Many in the gas industry attribute the run-ups to an unusually cold winter that has sharply reduced supplies and to volatile trading that often occurs as futures traders near the end of a supply contract month.

Today is the last day of trading for the March contract. In contrast, the April contract dropped $1.038 to close at $6.584 per thousand cubic feet. "