At first glance Thursday’s market looked similar to the one a day earlier: mostly small gains outweighing minor losses. However, there were fewer and smaller double-digit increases Thursday, while at the same time there were more and larger declines. The trend hinted at the possibility of cash numbers ending the week the same way they started, with softness dominant.
Articles from Outweighing
Mixed price movement returned to the spot market Monday, with gains outweighing losses. Cooling load remained fairly strong across the South and Southwest but was spotty in more northerly market areas. The return of industrial demand from its usual weekend layoff supported cash prices, but the 16.2-cent drop by July futures on Friday provided negative guidance.
The February aftermarket got launched Monday on a quiet note and with losses outweighing gains. Weather trends were toward moderation in several regions, although parts of the Southeast were still recovering from a weekend ice storm that had left thousands without power.
A Gulf Coast producer figured it had to be “storm hype”outweighing a sharply lower gas futures screen and causing nearlyall cash markets to soar by a dime or more Monday. Even mild tocool temperatures and the additional negative influence of Novembercrude oil futures plunging by 78 cents to settle below $24/bbl forthe first time in weeks failed to avert substantial upticks forspot gas.