Prior-day screen dive, slight retreats in southern heat have only minor impact.
Dominated
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Screen Drop Likely to Extend Cash Softening
The cash market was showing growing signs of weakness as the mostly single-digit declines that had slightly dominated weekend numbers Friday got larger in nearly all cases Monday. Forecasts of peak temperatures ranging from around 90 to either side of 100 stretched from the South Atlantic area through Oklahoma and Texas into much of the desert Southwest, but moderate to cool conditions continue to reign in the rest of the U.S. and Canada.
Slightly Higher Quotes Dominate Mixed Price Moves
Modest gains dominated the cash market Monday, even though warm to moderate forecasts in most areas were mostly unsupportive of price bullishness. However, a minor 3.2-cent uptick by September futures on the preceding Friday did help.
U.S. Shale Deals Propel Global M&A Activity
Transactions for unconventional reserves dominated the U.S. deal-making landscape in 2Q2010 with 32 deals totaling $12.9 billion, or 59% of U.S. total value, according to a report by Houston-based PLS Inc. and Derrick Petroleum Services.
U.S. Onshore Energy M&A Tops Global Activity
Transactions for unconventional natural gas and oil properties dominated the U.S. deal-making landscape in 2Q2010 with 32 deals totaling $12.9 billion, or 59% of U.S. total value, according to a report issued Wednesday by Houston-based PLS Inc. and Derrick Petroleum Services.
Near-Flat Pricing Remains the Norm at Most Points
Thursday’s cash market was a near-repeat of the one a day earlier. Flat to modestly higher numbers again dominated at eastern points, while most of the moderate softness remained concentrated in the West.
Prices Mostly Near Flat; Rockies/Southwest Softest
Moderate softness dominated a market in which most price movement saw little change either up or down from flat Thursday. A May futures increase of 3.9 cents a day earlier provided only meager support for cash numbers that appeared to be succumbing to an overall dearth of weather-related load instead of following the prior trading day’s screen lead as they have often done in the last week or so.
Prices Mostly Near Flat; Rockies/Southwest Softest
Moderate softness dominated a market in which most price movement saw little change either up or down from flat Thursday. A May futures increase of 3.9 cents a day earlier provided only meager support for cash numbers that appeared to be succumbing to an overall dearth of weather-related load instead of following the prior trading day’s screen lead as they have often done in the last week or so.
Near-Flat Quotes Dominate; Weekend Looks Much Softer
Flat or close-to-it pricing was almost universal in Thursday’s market, and for a change almost-imperceptible firmness prevailed instead of the mild declines that had dominated trading in the previous two days. The previous day’s screen uptick of 4.9 cents was the chief impetus for arresting the overall slide as forecasts continued to hint that the end of winter was nigh.
Near-Flat Quotes Dominate; Weekend Looks Much Softer
Flat or close-to-it pricing was almost universal in Thursday’s market, and for a change almost-imperceptible firmness prevailed instead of the mild declines that had dominated trading in the previous two days. The previous day’s screen uptick of 4.9 cents was the chief impetus for arresting the overall slide as forecasts continued to hint that the end of winter was nigh.