Continuing losses of cooling load, a 17.4-cent drop by September futures a day earlier and the usual weekend decline of industrial demand ganged up to depress prices by double-digit amounts at all cash points Friday.
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Plunging Prices See Multiple Negative Influences; Tropical Storm Gamma Forms
Forecasts of moderating weekend weather, a prior-day screen plunge, a bearish storage report and the dip in industrial load that is typical of a weekend ganged up on the cash market Friday and forced prices lower by triple-digit amounts at all points. Despite the big weekend losses, prices were up overall for the week due to the hefty gains that dominated the first four days.
November 21, 2005
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