Rounding out the flip-flopping action of the week, cash points unanimously plunged on Friday ahead of the weekend as moderating weather and Thursday’s hardy natural gas storage report made it very difficult to argue that the supply-demand equation is anywhere close to being balanced.
Flopping
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Cash Market Slides on Bearish Fundamentals
Siding with prior-day futures weakness instead of sticking to the week’s flip-flopping trend, cash points unanimously crumbled on Friday with most points declining by more than a half-dollar and a number of points out west shedding more than a dollar.
October 27, 2008
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