Likely keying off the natural gas screen’s failure to break above $3 on Wednesday, cash points across the country came off mostly by a nickel to a dime on Thursday except for a few spots in the Northeast, which chose their own path.Natural gas futures bulls were dealt a blow Thursday morning after it was reported that a higher-than-expected 57 Bcf storage injection was recorded for the week ending June. 22. While the build was much smaller than historical comparisons, it was still bearish enough when compared to industry expectations to push futures lower on Thursday. The August contract closed the regular session at $2.722, down 7.6 cents.
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Amid Mixed Pricing, West, Northeast Cash Points Record Gains
Keying off mixed futures market activity on Friday, the cash market on Monday continued its recent trend of “following the screen,” recording a mixture of gains and losses across the country. While the East and West recorded mostly gains, some as high as half-a-dollar, the rest of the country’s regions produced a wide range of ups and downs.
August 8, 2007
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