With little in the way of fundamental support to speak of, cashprices still managed gains between a nickel and a dime Tuesday atalmost every trading point. “It’s got to be technical,” said autility buyer. The tone was set by the screen opening around $1.80,a dime higher than Monday’s opening, even though the April contracteventually ended the day with a small net loss, he said. Anothersource thought it was a case of cash starting to converge with thescreen.
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AECO Plans to Add 10 Bcf/d of Storage Space
Alberta Energy Company (AEC) announced plans to expand thestorage capacity managed by its AECO-C storage hub in Alberta by 10Bcf through a conversion of a depleted field at Peace River Arch innorthwestern Alberta to a commercial storage facility. Thedevelopment will add 100 MMcf/d of injection and withdrawalcapability and has the potential for a further expansion, AEC said.
December 18, 1998
Futures Unchanged Ahead of Weekend
The futures market gave back some ground early in the dayFriday, but then managed to rebound late to trade to either side ofunchanged for the day. That enabled the December contract to settlefor the second day in a row at $2.553. Estimated volume was amoderate 47,537.
November 9, 1998
Futures Resist Opportunity to Continue Lower
The August Nymex contract probed lower yesterday but managed torebound before the close, bringing an end the price slide sincelast Thursday’s $2.425 high. Tuesday’s choppy trade left the spotmonth up 1.7 cents at $2.226 on the day. Despite the tight tradingrange and modest gain posted for the day, the session was anythingbut uneventful. Estimated volume confirmed the active market with53,327 contracts changing hands.
July 15, 1998
Price Drops of Up to a Nickel Dominate Market
Small decreases of 2-5 cents were the order of the day Tuesdayat most trading points, although a few managed to hang in there atflat levels. Moderating weather played some part, but the screen’sretreat late Monday along with another small drop Tuesday set thesofter mood, sources said.
March 25, 1998
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