| NYMEX Sets Daily Volume Records for Total Natural Gas Futures, Natural ...
NEW YORK, Feb. 12 /PRNewswire-FirstCall/ -- The New York Mercantile Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. (NYSE: NMX) , today announced that it set daily volume records for total natural gas futures traded on electronic and open outcry venues and natural gas futures traded on the CME Globex electronic trading platform. On Friday, total natural futures, via electronic and open outcry trading, reached 233,173 contracts, surpassing the 228,728 contracts traded on November 28, 2001. Yesterday, electronically traded natural gas futures totaled 184,926 contracts, exceeding the 174,481 contracts traded on February 8. NYMEX launched its physically settled futures contracts for trading on CME Globex during regular open outcry trading hours on September 5, 2006, following its initial offering of financially settled, standard-sized and NYMEX miNY energy futures contracts for trading on CME Globex on June 12, 2006.
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Crude futures steadied following Thursday's 4% slide in response to the foiled airliner bombing plot, finishing at $74.35 a barrel. Costly gasoline contributed to the 1.4% July gain in retail sales, the biggest increase in six months. Sales rose a strong 0.7% excluding the gas and the autos, confirming upbeat recent commentary from Federated (FD), Target (TGT) and J.C. Penney (JCP). .
Prepare to say goodnight to some shows
The Writers Guild of America strike is officially over, but its effects will linger for a while on Fridays. According to various trade-magazine reports, the futures of Women's Murder Club and Friday Night Lights are in doubt, and I get the sense that folks shouldn't get too close to Las Vegas, either. CBS, meanwhile, has announced anticipated April returns for first-run episodes of Ghost Whisperer, Moonlight and Numbers. Tonight, except for a two-hour Las Vegas season finale, most of the first-run scripted stuff is on cable, where you'll find some other season finales. Stuff to watch or record Friday Night Smackdown!: And you thought Valentine's Day was over -- in this episode of the wrestling series, World Heavyweight Champ Edge gives Smackdown general manager Vickie Guerrero a valentine.
NYMEX to Launch 11 New Balance of Month Petroleum Products Swap ...
NEW YORK, Nov. 20 /PRNewswire-FirstCall/ -- The New York Mercantile Exchange, Inc. today announced that it will introduce 11 new balance of month (BALMO) petroleum products swap futures contacts on NYMEX ClearPort clearing and trading, beginning on December 2 for trade date December 3. The new BALMO contracts will be cash-settled based on the balance of month average Platts price starting from the day of execution through the last trading day of the contract month. These contracts allow users to customize the balance of month period by selecting the start date of the BALMO averaging period. The first listed month will be the December 2007 contract, and the next contract month will be listed 10 business days before the start of the contract month. The new swap futures contracts and their commodity codes are: Singapore 180cst fuel oil BALMO (BS); Singapore 380cst fuel oil BALMO (BT); Singapore jet kerosene BALMO (BX); Singapore gasoil BALMO (VU); Singapore naphtha BALMO (KU); Dubai crude oil BALMO (BI); European 3.5% fuel oil (Northwest Europe) BALMO (KR); European 1% fuel oil (Northwest Europe) BALMO (KX); European naphtha BALMO (KZ); New York Harbor 1.0% fuel oil BALMO (VK); and Gulf Coast 3% fuel oil BALMO (VZ).
News in brief
A judge in Chicago has declared the millionaire adventurer Steve Fossett legally dead, five months after his plane disappeared over the Nevada desert. Fossett vanished in September after taking off in a light plane; a long search produced no trace of him. A judge heard testimony yesterday from Fossett's wife, Peggy, and a family friend as well as a search-and-rescue expert before deciding there was sufficient evidence to declare him dead. Attorneys representing Fossett's estate had filed a petition to have him declared legally dead so his assets could be distributed according to his will.Associated Press in Chicago MPs want rail link to mark peace with South Korea Politicians in Japan have proposed the construction of an 80-mile "peace tunnel" to South Korea that would boost trade and symbolise the warming of ties between the former enemies.
Pressure mounts for new controls on oil futures speculators
Sean Cota runs a family-owned fuel oil business in Bellows Falls, Vt., and has been active in the futures markets for 20 years, locking in prices to protect both himself and his customers. But over the past five years, he has watched in amazement -- and growing anger -- as speculators flooded into the market. It has created tremendous volatility and, he believes, driven up prices for crude oil, heating oil and a host of other commodities. As prices hover near record levels this year, his customers are bearing the brunt -- turning down their thermostats, taking longer to pay their bills and even using credit cards to pay for home heating. "All of these things are having a huge impact on people for something that is just not justified by supply and demand," Cota said.
Market overstretched in short-term
Data does not point to start shorting as yet. But if Nifty closes below 5070, a 200-point fall could be expected," said a dealer with a Mumbai brokerage.
“The market is overstretched in the short-term. Retail players are waiting for a correction to enter the market; participation from that front is very low, despite strong foreign money inflows," the dealer said. At 11:10 am, the National Stock Exchange's Nifty was down 98 points or 1.9 per cent at 5087.4.
Bombay Stock Exchange's Sensex was down 327 points or 1.84 per cent at 17,446.42 pressured by Reliance Energy (down 5.61%), ACC (4.73%), Ranbaxy Laboratories (4.2%), NTPC (3.85%) and Tata Motors (3.81%).
The HDFC twins and technology stocks were gainers on the indices. Software shares were steady ahead of second quarter results.
Oil prices touch new high of $101.32
SINGAPORE: World oil prices hit a new record of USD 101.32 a barrel on renewed concerns over global crude supplies, dealers said on Thursday.
New York's main oil futures contract, light sweet crude for delivery in March, touched the all-time peak in electronic trading before it lapsed.
In morning trade, the contract for April delivery which took over was trading at USD 99.76 a barrel, up six cents from the previous day.
Brent North Sea crude for April delivery rose three cents to USD 98.45 a barrel. .
Smalltown keeping the pace: label nights and The Thing
Special label nights at two important festivals, and an exciting new box release, prove that Smalltown Supersound/ Superjazz is at the forefront of independent music as ever before. Few labels embody the spirit of independent music in a way comparable to Smalltown Supersound: zeitgeisty (in the positive sense) unrestricted, and, most of all, artistically truthful music is brought forth at a frequency that is baffling. Especially if one has a look at the number of releases last year and not least their international reception.
But it is not simply in terms of releases that Smalltown show their zeal; the new fashion of "label nights" is something at which Smalltown excel, and small wonder if one takes a look at the label's catalogue of artists: the names under the Smalltown umbrella are consistently subject to international buzz and connoisseur admiration.
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