With a wee bit of help from prior-day screen firmness, gradually growing demand for power generation gas supplies to keep air conditioners running caused most cash market locations to realize substantive increases Tuesday. Even though odds of a Bay of Campeche low-pressure area becoming a named tropical storm didn’t get raised to 90% until well into the afternoon, just the chance of that happening so early in hurricane season may have been a modestly bullish factor to some traders.
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Prices Increase Except in Cooling Northeast
High heat levels that kept air conditioners humming in many areas, plus a large dose of prior-day support from Tuesday’s gain of nearly 29 cents by August futures, led to higher cash prices at most points Wednesday. Northeast citygates constituted a conspicuous exception as the region is in transition from early week highs in the 90s to peak temperatures on either side of 80 degrees Thursday.
July 12, 2007
Energy Prices on Notice as Bastardi Continues to Call for ‘Long, Hot Summer’
Noting that the United States is in for a “long, hot summer,” AccuWeather.com Chief Long-Range Forecaster Joe Bastardi said that air conditioners will definitely be “getting a workout” in most regions of the country. The summer update released Friday was similar to the forecaster’s mid-May outlook (see NGI, May 21).
June 11, 2007
Energy Prices on Notice as Bastardi Continues to Call for ‘Long, Hot Summer’
Noting that the United States is in for a “long, hot summer,” AccuWeather.com Chief Long-Range Forecaster Joe Bastardi said that air conditioners will definitely be “getting a workout” in most regions of the country. The summer update released Friday was similar to the forecaster’s mid-May outlook (see Daily GPI, May 18).
June 11, 2007
Typical Mid-July Weather Keeps Prices Moving Higher
Air conditioners are humming virtually everywhere, and that translated into continuing bullishness for almost the entire cash gas market Wednesday. Except for a small decline at Malin and flat to barely higher numbers at a few Northeast citygates, other points saw gains that tended to range from a nickel to a little more than 15 cents.
July 18, 2002
Typical Mid-July Weather Keeps Prices Moving Higher
Air conditioners are humming virtually everywhere, and that translated into continuing bullishness for almost the entire cash gas market Wednesday. Except for a small decline at Malin and flat to barely higher numbers at a few Northeast citygates, other points saw gains that tended to range from a nickel to a little more than 15 cents.
July 18, 2002
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