Dearth

The cash market succumbed to a growing dearth of cooling load in the Midwest, Northeast and Canada by dropping at most points Tuesday. It also felt negative pressure from the previous day’s 16.1-cent decline by August futures.

Prices continued to rise at virtually all points Monday despite a relative dearth of significant heating load. Yes, there were still some forecasts of low temperatures around freezing or less for Tuesday in the Northeast, Upper Plains, Rockies and Alberta, but those are largely taken for granted and lightly regarded in late March.

The cash market shrugged off major futures weakness a day earlier and a continuing dearth of significant weather-based load by recording gains at a majority of points Tuesday.

U.S. liquefied natural gas (LNG) buyers who are disappointed at the dearth of spot cargoes available on the world market have but one consolation: If they could get a spot cargo, they probably couldn’t afford it.

U.S. liquefied natural gas (LNG) buyers who are disappointed at the dearth of spot cargoes available on the world market have but one consolation: If they could get a spot cargo, they probably couldn’t afford it.

A dearth of cooling load in the East trumped futures support from last Friday in causing most points to continue falling Monday. However, nearly all of the West, which is where the lion’s share of 90-degree-plus weather is currently in residence, was joined by a few eastern points in ranging from flat to about 35 cents higher.

Depressed by a dearth of weather-based demand and given negative guidance by two previous days of futures losses, the cash market continued to see mixed price movement Wednesday that nevertheless signaled growing weakness. The impressive Rockies spikes of Tuesday gave way to even larger losses in most cases Wednesday, while most other points recorded considerably more moderate declines.

Despite a dearth of hurricane activity in 2006, speakers on a storm preparedness panel at the Offshore Technology Conference (OTC) in Houston last week still had plenty to talk about. After all, the industry remains on the mend from the momentous 2005 hurricane season and digesting the lessons learned from the one-two punch of hurricanes Katrina and Rita.

Despite a dearth of hurricane activity in 2006, speakers on a storm preparedness panel at the Offshore Technology Conference (OTC) in Houston Tuesday still had plenty to talk about. After all, the industry remains on the mend from the momentous 2005 hurricane season and digesting the lessons learned from the one-two punch of hurricanes Katrina and Rita.