What Goes Up (Gas Prices) Now Coming Down

Cash prices continued to drop going into the weekend asexpected. Moderating weather and the usual lower weekend loads werethe obvious reasons for softening, sources said. Despite theoverall downward trend, falls were only 1-3 cents on several pipesin the Gulf Coast and Midcontinent. Again, the points that hadrisen most rapidly earlier in the week-such as Northeast citygates,Northern Natural-demarc and Waha-were the ones seeing the steepestdeclines.

March 16, 1998

Futures Prices Fall, But Traders Look For Rebound

The April Nymex contract took a 5.1 cent hit to $2.241 onTuesday, as speculators continued to sell positions following thespot month’s inability to break above the $2.355 resistance levelon Monday, a source told GPI. Total volume was estimated at 41,490contracts.

March 4, 1998

Prices for February and March Still on the Rise

Prices continued to rise Thursday in trading for both lateFebruary and March. It was mostly a response to the screen’sbelated run-up Wednesday, sources said, but there was enoughblizzard-like weather spreading out from the Upper Plains region togive prices a little extra boost.

February 27, 1998

Transportation Notes

El Paso continued a 30 MMcf/d allocation of the San JuanCrossover through today due to unforeseen problems extendingmaintenance on the Laguna Station (Cibola County, NM) #3compressor. El Paso also postponed maintenance on the WendenStation (La Paz County, AZ) “A” turbine, which had been scheduledearlier this week, to March 16-18 to coincide with a total shutdownof the station March 17. Havasu Crossover capacity will be cut by80 MMcf/d on March 16 and 18 and by 150 MMcf/d on March 17.

February 26, 1998

March Futures Go Into Weekend Below $2.20

The March Nymex futures contract fell another 1.9 cents to$2.198 Friday, as traders continued the falloff in prices theystarted on Thursday. “This was not a case of traders gunning forstops, where they try to push the contract under support hoping thecontract will fall even more. This was simply an extension ofThursday,” a broker said.

February 23, 1998
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