The market still has little on which to lean in the way of supportive weather; tropical activity in the Atlantic Basin has disappeared entirely for the time being, and except for some positive developments imminent in the Rockies, available storage injection capacity continues to tighten as the season enters its final weeks. Still, the somewhat implausible rally that began Monday was sustained through Tuesday at nearly all locations.
Except
Articles from Except
Prices Continue Dips Virtually Across the Board
The cash market saw further drops at all points except one Friday. There was little change in overall weather-based load for the weekend as small temperature gains in some sections were largely balanced by slight cooling trends, while some areas were seeing little change in their forecasts.
Storm Threat Wanes, Not Heat; Prices Mixed
The double-digit advances that pervaded the market Monday were disappearing rapidly Tuesday except in the Northeast, where forecasts are getting hotter. Close-to-flat numbers were common outside the Northeast, and small losses were resurfacing in the price mix for the first time since one last Friday.
Winter Storm Bolsters Most Points; Low Linepack Common
Frigid temperatures and frozen precipitation extending into nearly all sections of the U.S. and Canada caused spot prices to rise at all locations except three in Western Canada Wednesday.
Handful of Northeast Cash Points Come Off Significantly
Chilly temperatures kept upward pressure on a vast majority of cash point averages on Tuesday except for a handful of Northeast points, which recorded drops of $2.20 to more than $5 as the coldest temperatures associated with Sunday’s blizzard began to subside.
North American Oilfield Services Sector Gains Strength
The coming year looks to be a positive one for oilfield service operators in North America, except in the Gulf of Mexico (GOM), where business may continue to be slow, energy analysts said last week.
North American Oilfield Services Sector Gains Strength
The coming year looks to be a positive one for oilfield service operators in North America, except in the Gulf of Mexico (GOM), where business may continue to be slow, energy analysts said last week.
Cold-Induced Rally Proves Short-Lived — Again
Except for an enclave of still-rising points in the New England market, the latest cold spell wasn’t any more successful in sustaining a price rally than others in recent weeks have been. Modest warming trends in the Midwest and lower Northeast/Mid-Atlantic, along with a plunge of 20.6 cents by December futures a day earlier, pushed a large majority of points lower by double-digit amounts Tuesday.
Weather? What Weather? Prices Rise Anyway
Justification was difficult, but it couldn’t be denied: prices rose across the board Wednesday, with nearly all of the gains in double digits.
Only Western Canada Avoids Overall Price Softness
Except for flat to slightly higher numbers in Western Canada and El Paso’s Bondad pool, prices continued to slip at nearly all points Friday. Cooling load remained fairly high throughout most of the southern third of the U.S., but that was overcome by forecasts of little more than warm weather in northern market areas, the previous day’s drop of 6.8 cents by September futures and the usual weekend decline of industrial demand.