---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/07/2000 09:33 
AM ---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>                      
     12/07/2000 09:15 AM
	

To: undisclosed-recipients:;
cc:  
Subject: DJ Locals Seen 'Yelling' At Nymex Board Members Touring Pits


16:38 GMT 7 December 2000 DJ Locals Seen 'Yelling' At Nymex Board Members
Touring Pits
HOUSTON (Dow Jones)--Locals were seen openly haranguing New York Mercantile
Exchange board and committee members in the pits at mid-morning Thursday
during a suspension of trading, traders in the pits told Dow Jones
Newswires.
"They're yelling at board members, they're freaking out," an oil and gas pit
trader said. "They're not happy - they're losing money."
The trader, who also trades in the natural gas pit, said pit participants
are concerned that ACCESS trading on low volume has run the price of natural
gas up so much.
But, he said, when the market reopens at 11:30 a.m. Thursday after an hour
of suspended trade, expect the market to fall "decidedly lower."
The market subsequently reopened at $8.35, down 13 cents.
Locals, he said, want the Nymex to set $1.50 up and down limits and stay
with them, he said.
The market has initiated inital price limits of $1, expanding to $2, but
that decision by the Nymex board late Tuesday still has to be approved by
the Commodity Futures Trading Commission. A Nymex spokeswoman expects that
decision to come soon.
ACCESS trading had pushed the market to $9.235 per million British thermal
units, up 75 cents from the $8.485/MMBtu settlement. The market then fell 75
cents back to the settlement price, and the Nymex suspended trading for an
hour.
"That is really crazy," a Midwest trader said.
The market shut trading at 10:30:06 a.m. EST Thursday (1530 GMT), according
to a Nymex spokeswoman. It will resume at 11:30 a.m.,. she said, with
75-cents down limits in effect.
On Enron Online, the January contract was trading at $8.35-$8.41/MMBtu, a
Houston trader said, oscillating between $8.47-$8.53 at 11:25 a.m. EST (1625
GMT).
Physical gas at the Henry Hub is trading around $8.21-$8.28, and swing swaps
for the rest of the month is at $8.70-$8.88, he said.
- By John Edmiston, Dow Jones Newswires; 713-547-9209;
john.edmiston@dowjones.com
(END) Dow Jones Newswires 07-12-00
1638GMT Copyright (c) 2000, Dow Jones & Company Inc


G_nther A. Pergher
Senior Analyst
Dow Jones & Company Inc.
Tel.  609.520.7067
Fax. 609.452.3531

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