Cash Prices Level Off in Quiet Trading

Flatness dominated at nearly all market points Thursday, andseveral sources anticipate a softening mode today due both to thescreen’s decline Thursday and the usual slump of weekend usage.Also, a marketer said cooling weekend temperatures in Texas shoulddampen some of the recent air conditioning load in the state.

April 17, 1998

Canadian Imports Slow; LNG Soars

Despite reaching another record of 2,899 Bcf, Canadian gasimports grew by only 0.5%, or 15.4 Bcf, last year, which was thelowest growth level in the past 11 years, according to a report bythe Department of Energy. DOE attributed the slow-down to tightimport pipeline capacity. It also mentioned prices at gas importpoints (under long-term and short-term contracts) in 1997 averaged$2.11, 10% higher than average prices in 1996. The average price ofCanadian gas at major import points rose 46% over the past twoyears, DOE said.

April 1, 1998

Futures Rally in Response to Cash Gains

For the third day in a row the April Futures contract tested butwas unable to break through the $2.185 resistance level, stoppingshort at $2.172 Wednesday. April opened higher in sympathy withHenry Hub cash market prices, which eked out a couple-cent gain onthe day, but it was limited to a 4-cent trading range with arelatively light 31,462 contracts changing hands.

March 12, 1998
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