Most eastern points soared by 20-35 cents or so Thursday as a return of cold-weather fundamentals in parts of the Northeast and Midwest was reinforced by a spiking screen and new forecasts of even more severe weather to come. Transco Zone 6-New York City led the ascent with a gain of nearly 70 cents to average more than $6.
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Price Movement Small; Up in East, Down in West
In what was often characterized as a quiet trading day, prices were flat to mildly higher Tuesday in the East and moderately softer at most western points. Gains were capped at 5-6 cents, while Rockies and San Juan Basin declines of about a dime topped the losses.
Prices Up Mildly as New Depression Forms in Gulf
Prices ranged from flat to about a dime higher in nearly all cases Thursday. Most gains were generally small at around a nickel or less. Only San Juan Basin and Iroquois Zone 2 recorded marginal losses of 2-3 cents.
Potential Storm Threat Helps Keep Prices Mildly Firmer
Surprising more than one trader, the cash market didn’t follow its usual recent pattern of following Tuesday’s screen dive on the following day. Instead, cash was flat to up 50 cents in most cases Wednesday. Most gains were in single digits.
Rockies Prices Rally Strongly; Rest of Market Mildly Higher Again
Except for a major turnaround of previously slumping Rockies prices, Wednesday’s cash market was close to a repeat of Tuesday: flat to a few cents higher at nearly all non-Rockies points. The Midcontinent saw most of the larger non-Rockies increases around 4-8 cents because of snowy conditions returning to its Midwest market area.
Now It’s Northeast, FL Diving vs. Flat to Mildly Higher Prices
Traders found a mixed bag in launching the March aftermarket Thursday. Although swing prices began the month handily above indexes, they were generally flat to end-of-February numbers, but with sizeable variations to both the downside and upside.
East Up Mildly, West Stronger as ‘Big Freeze’ Begins
What may be bullish traders’ last weather hope in an otherwise disappointingly mild winter was developing Monday, but the price reaction was somewhat subdued. Most eastern points ranged from flat to slightly more than a nickel higher, while western gains tended to be larger at about a nickel to nearly 15 cents. The stronger performance in the West was largely attributed to recovery from weekend softening, the absence of high-linepack OFOs in California and demand in the Midwest for more Rockies supplies.
Existing, Predicted Cold Yields Flat to Mildly Higher Prices
Despite softer futures and continued relatively mild late-January weather outside the West and Upper Plains, prices either leveled off around flat or registered small gains nearly across the board Monday. Most of the larger increases of about a nickel occurred on Midcontinent and Rockies/Pacific Northwest pipes, because that’s where the worst winter weather was concentrated.
East Still Mildly Firmer, But Most Western Points Drop
There appeared to be just enough cold weather to keep the bears at bay for at least one more day in the East Wednesday, as regional prices ranged from flat to a little more than a nickel higher. Most western points continued to soften, however, led by drops of about a dime in California.
Tragic Week Ends With Flat to Mildly Lower Prices
A highly stressful trading week came to a close Friday with most of the market in a general holding pattern. Flat to barely higher or lower numbers prevailed at a majority of points; declines of about a nickel or more were concentrated in the Rockies and California.