Ascending

A pair of liquefied natural gas (LNG) receiving terminal proposals on seemingly different trajectories — one ascending, the other trying to break its fall — eye separate hearings in their respective locales of Oregon and Southern California later this month.

As a marketer had predicted a day earlier, a majority of the cash market was able to continue ascending Tuesday — but by considerably smaller amounts (except in the rebounding Rockies) than on Monday. In addition, there were more flat to softer points as cooling trends began to reduce power generation demand in key northern market areas.

Except for an essentially flat Northern California market, cash prices continued to move higher Wednesday. Colder northern weather, including snow in some cases, either setting in already or due later this week was cited as the primary factor sustaining market firmness.