Prices Soar on Gulf Storm Shut-Ins, Western Heat

Last week gas buyers were pooh-poohing the “hurricane hype” theyhad been hearing earlier about Tropical Storm Charley. Well, sorry,Charley, you may have been a small fish when it came to impactinggas production, but Earl is the real thing.

September 2, 1998

August Softer Except for California Border

Buyers appeared to be winning most of the price standoffs inlate bidweek business Thursday. Michigan citygates were down to thelow $1.90s after deals had been done earlier in the mid $1.90s, amarketer said. Another felt it odd to see Michigan trading at aslightly negative basis for a change after hitting plus 24-25 insome cases last winter. But several traders agreed there’s nomystery to the basis weakness; “it’s all that storage” in thestate, one commented. We’ll continue to see Michigan beingdiscounted relative to Chicago deliveries for quite a while, againfor the storage reason, he said.

July 31, 1998

Flatness Dominates Day Before Expiration

Coming off two days marked by sizable price swings and robustvolume, buyers and sellers were almost evenly matched Tuesdaymaking for a rare sub-5-cent price range. The prompt month closedthe day down 1.3 cents to settle at $1.952.

July 29, 1998
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