There was little consistency in price movement Tuesday. Most of the market was close to flat, but also saw gains as big as about 30 cents and losses as big as about 15 cents. Then there was the special case of the Northeast, where a couple of points recorded dollar-plus increases while others took the biggest falls of up to nearly 60 cents.
Movement
Articles from Movement
Futures Stay Put by Ignoring Storms, Crude Movement
Unimpressed by the paths of the first two significant storms of the season, natural gas futures on Tuesday lacked the ability to rebound from Monday’s 29.9-cent drop. The prompt month settled up three-tenths of a penny at $5.816 after trading within a $5.77-5.855 range on the day.
Cash Market Stays Flat as Oil-Based Futures Soar
Wednesday’s market was virtually a repeat of the one Tuesday, with little or no price movement at the great majority of points and the few increases or decreases being capped at about a nickel. Lingering cold in the Midwest and Northeast was being joined by a modest amount of cooling load developing from Texas through the desert Southwest into California.
Cash Market Returns to Mixed Price Movement
A steady trend since Monday toward greater price softness was partially reversed Thursday. Most points were essentially flat or recorded small gains or losses of less than a nickel; the more volatile ones ranged from 20 cents higher to about 15 cents lower.
Most Points Moderately Firmer; Northeast Keeps Diving
The cash market broke out of a lengthy pattern of volatile price movement for the most part Wednesday. Except for plunges of 60 cents to nearly two dollars in the Northeast, the rest of the market tended to range from slightly softer to 20 cents higher. A majority of the gains were less than a dime.
East Mixed as Heat Rises in South; Some Spikes in West
As on the preceding Friday, price movement divided roughly on geographical lines again Monday. But this time it was western points seeing mostly strength, while the East turned in a mixed performance with only few points varying much more than a nickel up or down from flat.
Bearish Storage Report Slows Price Climb
Prices managed to sustain this week’s near-solid upward price movement Thursday, but there were hints that the bullish streak may be coming to an end. New upticks ranged from about a nickel to a quarter, but were mostly moderate at around a dime or less.
Price Changes Mostly Downward; Volatility Easing Up
Normally a trading day in which many points record price movement of half a dollar to a dollar or more would be considered rather volatile. But after more than a week in which most of the market recorded daily changes spanning several dollars, Tuesday’s activity seemed rather sedate by comparison. No doubt many traders welcomed a break from the recent spate of hyper-volatility.
Most of Market Up Sharply, But Northeast Takes a Dive
There was a lot of contrast in price movement Thursday. After leaving the rest of the market way behind with numbers that had topped $20 in some cases the day before, Northeast citygates started to come back down to earth with multi-dollar plunges. Meanwhile, most other points (outside the Rockies) soared by about 30 cents or more. Some Gulf Coast pipes saw dollar-plus advances, with others there and in the Midcontinent rising nearly a dollar.
Mostly Softer Trend Expected to Grow for Weekend
The post-Christmas cash market saw a mix of price movement that was largely weighted toward moderate declines. A few small upticks were scattered here and there, but a majority of points ranged from flat to down a little more than 20 cents (Northwest-Sumas).