“There’s a lot of gloom and doom all around,” commented a Midcontinent marketer. While the downhill slope for cash prices got a bit less steep Wednesday, no one was ready to argue with the marketer’s contention. Except for larger declines in the Rockies and at the PG&E citygate, most of the downticks were a dime or less, compared with overall drops in the teens the day before.
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Pricing for Halloween, Nov. 1-2 Wildly Varied
The source who commented “It’s a wild and crazy market outthere” when asked Friday to explain big variations in price quotesfor Nov. 1-2 business was understating the situation by manydegrees. There seemed to be no rhyme or reason at all in the earlyNovember aftermarket when traders were reporting ranges of 25-30cents for individual points in swing deals done Friday.
Down Again: ‘Seems Like Buying Frenzy Is Over’
Another day, another dime (or so) down for cash prices.Acknowledging it was a colossal understatement, a marketercommented, “It seems like the buying frenzy is over.” Although airconditioning was still generating its fair share of demandWednesday, it wasn’t nearly enough to prevent more slides on eitherside of a dime at nearly all price points.
Colorado Projects May Be Combined
Even though construction of the intrastate Front Range Pipelinealready is in progress and work on the Front Runner Pipeline isexpected to start “fairly soon,” the sponsors have disclosed thatthey are continuing discussions to possibly combine the two rivalprojects into a single pipeline to serve the growing Colorado gasmarket.
Trail-Blazing PUC Commissioner Fights for Job
The Pennsylvania Public Utility Commission will go from being “awatchdog to a lapdog,” Commissioner John Hanger commented followingthe announcement the governor had chosen a staunch supporter ofPeco Energy, Chester, PA Mayor Aaron Wilson Jr. to replace Hanger.