Plunge

The previous-day screen plunge was able to trump growth in heating load as a cash price influence Tuesday. Some points, primarily in the Gulf Coast and Northeast, were flat to moderately higher, but a decided majority of the market opened the December aftermarket weakly in recording losses ranging from about a nickel to 40 cents or so.

The previous-day screen plunge was able to trump growth in heating load as a cash price influence Tuesday. Some points, primarily in the Gulf Coast and Northeast, were flat to moderately higher, but a decided majority of the market opened the December aftermarket weakly in recording losses ranging from about a nickel to 40 cents or so.

Beset by negative influences from several directions, prices plummeted across the board Friday with drops approaching or exceeding a dollar in many instances. But hold the phone on those predictions earlier this week that there was almost no chance of a cash market rally between now and the end of the month. One appeared to be shaping up for Monday’s trading.

Beset by negative influences from several directions, prices plummeted across the board Friday with drops approaching or exceeding a dollar in many instances. But hold the phone on those predictions earlier this week that there was almost no chance of a cash market rally between now and the end of the month. One appeared to be shaping up for Monday’s trading.

Despite the sharp plunge in the futures market Monday, natural gas cash prices moved significantly higher across the country, jumping 75-90 cents in the Northeast, for example, largely in response to some of the season’s coldest temperatures.

Despite the sharp plunge in the futures market Monday, natural gas cash prices moved significantly higher across the country, jumping 75-90 cents in the Northeast, for example, largely in response to some of the season’s coldest temperatures.

As anticipated, the previous day’s futures plunge of nearly 30 cents was reflected by overall softness in Tuesday’s cash market. But there was enough hot weather demand to distribute pockets of flat to higher prices here and there.

Apparently Wednesday’s Iroquois Zone 2 quote of $76 will stand for a while as the spot market’s price record, because Northeast quotes tumbled Thursday about as fast as they had skyrocketed the day before. Conversely, the rest of the market ranged from flat to up nearly half a dollar after having been softer the day before.

The screen slowed this week’s headlong plunge considerably Tuesday, but cash prices continued a meltdown of major proportions as winter weather support remains missing in action for the most part. Quotes fell by more than half a dollar across the board, with most declines exceeding 65 cents and a few points in the Northeast and Midcontinent/Midwest recording drops of a dollar or more.