“Other than a 15-cent crash, it’s a fairly quiet market.” That’sthe only comment a Sumas trader had to offer Tuesday other than acouple of price quotes. It appeared the cash market may have onlybeen teasing producers with Monday’s moderate firming afterdouble-digit decreases dominated on Tuesday. Some sources pointedat futures as a source of cash weakness, but most said it was morethe continuing lack of positive fundamental influences that causedmost points to approximately double the screen’s fall of just over9 cents.
Crash
Articles from Crash
BP Amoco to Cut $10B in Assets, Lower Costs $4B
BP Amoco CEO Sir John Browne put the company on a crash dietlast week, with a worldwide three-year plan to cut $4 billion incosts and surgically remove $10 billion in non-core asset fat,including the sale of its 64% share in U.S. gas and oil producerAltura Energy. BP Amoco also intends to boost capital expenditures$26 billion.
July 19, 1999
Weekend Prices Crash on Lack of Fundamentals
Prices for the weekend were crashing faster and farther Fridaythan they had run up the day before. Declines that were often inthe area of 20 cents left many points not far above Octoberindexes.
October 5, 1998
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