Perhaps befittingly for the first day of spring, cash prices dropped by double-digit cent amounts across the board Thursday. They were dragged down by forecasts of moderate weather across the southern half of the U.S. and in much of the West, the previous day’s 39-cent dive by April futures, and the extra decline of industrial load associated with a long holiday weekend.
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Price Plunges in Northeast Lead Overall Downturn
The slippery downhill slope on which prices were launched Wednesday, somewhat befittingly during the Winter Olympics in Salt Lake City, got steeper Thursday, especially for Northeast citygates. Most points saw drops ranging from about a nickel to a little more than a dime, with those on either side of a dime being most prevalent. But numbers in the warming Northeast dove by as much as 49 cents.
February 15, 2002
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