No snowstorms are expected except for possibly in some mountainous areas of the West, but quite a few folks may be getting a reminder Tuesday that the winter season isn’t all that long departed. The chillier forecasts, aided slightly by the return of industrial load from its weekend decline, resulted in flat to higher prices at a large majority of trading points Monday.
Tag / Mountainous
SubscribeMountainous
Articles from Mountainous
Weekend Prices Rise on Cooler Temps, Slight Demand Increase
Prices were up at most points Friday as cold and snowy weather was expected to continue into the weekend in northern market areas and mountainous sections of the West, while a cold front in the heretofore mild South was giving a boost to overall heating load.
Most Points Rise, But Screen Points to Declines Friday
Prices managed to rise at nearly all points Thursday, boosted by cooling trends in northern market areas, continuing cold in mountainous parts of the West and ongoing momentum from three preceding days of futures gains this week. But Thursday’s 36.5-cent screen reversal (in response to a moderately bearish 5 Bcf weekly storage injection), combined with the weekend loss of industrial load and the fact that little if any especially severe cold was in the offing, made it likely that softness would prevail in the cash market Friday.
Futures Inch 1.6 Cents Higher on Greenspan’s Alarm Bell Over Gas Supply
Some observers were expecting a mountainous move in natural gas futures Tuesday as Alan Greenspan told Congress that the nation has a long-term gas supply problem. What they got instead was a minuscule 1.6-cent hiccup from a market that had digested the news long ago. July futures ended the day at $6.330 with a high of $6.355 and a low of $6.23. August also gained 1.6 cents to $6.42, and September added 2 cents to $6.424.