With a major winter storm bearing down on the Northeast after dumping copious amounts of snow in the South Atlantic and Mid-Atlantic states, prices were up across the board Monday. All Northeast citygates recorded $5-plus advances, with a few skyrocketing by more than $7.
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Prices Soar as Snowstorms Engulf Much of East
Freezing weather accompanied by copious amounts of snow had already settled in throughout much of the Northeast and Midwest and eastern parts of the South Monday and was due to continue Tuesday. The predictable result was sharply higher prices across the board in Monday’s launch of the March aftermarket.
March 1, 2005
$2.00 Level No Problem for January Futures
A combination of copious amounts of gas both in the pipe andground, and very little weather demand had the stage set perfectlyfor the futures market to trend lower Monday. But despite all theominous fundamental news and bearish sentiment, few traders wereprepared for the price erosion that occurred in early tradingyesterday. The January contract gapped dramatically lower on theopen and quickly set a $1.97 low in the first half hour of trading.That left the spot month to trade sideways for the rest of the daybefore settling at $1.976. In doing so, the January contractcrushed its previous life-of-contract low of $2.085.
December 1, 1998
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