Cash prices were close to evenly divided between gains and losses Monday, with falling points slightly outnumbering the rising ones. On the first official day of fall the market was seeing mostly seasonal weather; that is, it was hot enough in the desert Southwest for Phoenix to have a triple-digit high in the forecast for Tuesday but only warm in the South (highs throughout the 80s) and mild to cool almost everywhere else. Although sporadic and modest heating load has shown up in the last week or so in areas on either side of the Canadian border, it is not yet a significant market factor.
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Most Prices Near Flat; Rockies Return to Plunging
Except for the Rockies, most points saw little change in pricing Thursday, with small gains handily outnumbering small losses. A supportive 14.7-cent prior-day increase by November futures and a moderate amount of heating load in northern market areas competed with mild weather in most other regions, an ongoing lack of tropical storm activity and the knowledge that storage injection options are rapidly disappearing in vying for influence on price movement.
October 12, 2007
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