Eastern markets emerged from the weekend without seeing anyrebound from Friday’s slump. Prices continued to decline by mostlysmall amounts, with various points ranging from flat to just over anickel lower. A small futures drop contributed to the cashbearishness, traders said, but more than anything else it was arelative dearth of air conditioning load that sent prices down.
Emerged
Articles from Emerged
Post-Holiday Prices Up, But Softening Expected Today
The cash market emerged from the July 4 holiday weekend with astrong performance in which prices ranged from flat at some pointsin the Gulf Coast and Midcontinent to nearly 20 cents higher inCalifornia. The West made a remarkable recovery from last Friday’ssteep dives, reclaiming nearly all of the ground it had lost. Aheat wave over the eastern third of the U.S.-especially acute inthe Northeast-kept prices firm in the producing and market areas.
July 7, 1999
Overall Gains Are Biggest by Far in Heated West
Cash prices emerged from the weekend with widespread gainsMonday. Most were of the small-to-medium variety at 2-6 cents, buta scorching West tended to see a lot of double-digit increases. SanJuan Basin and the Southern California moved in near-lockstep,rising about a quarter each. However, a basis relationship gap ofnearly 50 cents between the two points remaineduncharacteristically wide compared to traditional levels,reflecting the inroads made by Canadian and Rockies supplies intothe California market in recent years.
July 28, 1998
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