After a 21.8-cent futures drop a day earlier that was largely based on a below-expectations storage withdrawal report, it was hardly surprising to see prices drop across the board Friday, even with colder temperatures returning to some areas during the weekend.
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Screen Fall Trumps Returning Chill in Lowering Cash
After a 21.8-cent futures drop a day earlier that was largely based on a below-expectations storage withdrawal report, it was hardly surprising to see prices drop across the board Friday, even with colder temperatures returning to some areas during the weekend.
Transportation Notes
Citing forecasts of Florida lows in the 30s and linepack below its minimum target levels, Florida Gas Transmission issued an Overage Alert Day for market-area customers Thursday with a 15% tolerance for negative daily imbalances.
Transportation Notes
Citing forecasts of Florida lows in the 30s and linepack below its minimum target levels, Florida Gas Transmission issued an Overage Alert Day for market-area customers Thursday with a 15% tolerance for negative daily imbalances.
Few Cash Points Evade Further Softening
With milder weather arriving a bit earlier than expected in the South and lows in the lower Northeast not getting much below freezing Friday, cash traders largely ignored the previous day’s advance of 7.6 cents by March futures in sending all but a few locations to generally moderate losses Thursday.
Few Cash Points Evade Further Softening
With milder weather arriving a bit earlier than expected in the South and lows in the lower Northeast not getting much below freezing Friday, cash traders largely ignored the previous day’s advance of 7.6 cents by March futures in sending all but a few locations to generally moderate losses Thursday.
Only Three Points (Barely) Escape Further Softening
Low temperatures sinking into the teens, single digits and even below zero Thursday in areas from the Northeast through the Midcontinent/Midwest, Upper Plains, Canada and parts of the Rockies failed to faze either the cash or futures markets Wednesday. Softness remained the order of the day. Physical prices fell at all but three points as conditions were due to stay relatively moderate across the southern tier of states and in much of the western U.S. outside the Rockies.
Only Three Points (Barely) Escape Further Softening
Low temperatures sinking into the teens, single digits and even below zero Thursday in areas from the Northeast through the Midcontinent/Midwest, Upper Plains, Canada and parts of the Rockies failed to faze either the cash or futures markets Wednesday. Softness remained the order of the day. Physical prices fell at all but three points as conditions were due to stay relatively moderate across the southern tier of states and in much of the western U.S. outside the Rockies.
Transportation Notes
Due to Florida forecasts of below-freezing temperatures, Florida Gas Transmission (FGT) implemented an Overage Alert Day (OAD) for market-area customers Sunday with 10% tolerance for negative daily imbalances. The OAD was continued through at least Monday. FGT said it didn’t anticipate scheduling ITS-1 service in the market area for Tuesday’s gas day, and there was the potential for the OAD continuing Tuesday with a much-tighter 2% imbalance tolerance.
Nearly All Points Fall Along With Southern Heating Load
With temperatures beginning to see fall-like conditions again in the South and Midcontinent, and only occasionally lows getting much below freezing outside Canada and U.S. areas near the northern border, prices fell at nearly all points Tuesday. The previous day’s drop of 11.3 cents by January futures also played a role in depressing the cash market.