Logged

The cash market showed it had not yet run out of steam, despite a futures rally faltering slightly a day earlier, as it logged increases across the board Wednesday in its third straight day of overwhelming firmness. Outside the well established major heat areas of the south-central and southwestern U.S., cooling load was no stronger than normal at best in the South and about to start receding to some extent in the Northeast following an extended above-normal period.

In the back and forth battle occurring recently in natural gas futures the November contract logged a forth day on Wednesday as it gained 14.7 cents to close at $7.010. Despite signs that the 2007 Atlantic hurricane season is on course to be just as underwhelming as the previous year, some traders point to the market’s seasonal tendency to buy at this juncture.