The general weather moderation in most areas had proven puzzling Tuesday when most points rose a few cents, but it appeared that logical behavior had returned to the market Wednesday as prices fell across the board. The previous day’s futures decline of 1.1 cent, while minuscule, was an added slightly bearish factor in the cash market.
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All Points Drop as Heating Load Wanes Further
The general weather moderation in most areas had proven puzzling Tuesday when most points rose a few cents, but it appeared that logical behavior had returned to the market Wednesday as prices fell across the board. The previous day’s futures decline of 1.1 cent, while minuscule, was an added slightly bearish factor in the cash market.
Most Points Keep Falling as Cold Weather Fades
A few flat to a little more than a dime higher western points notwithstanding, most of the cash market continued to sink Monday as what appeared to be the last vestiges of winter weather receded into the distance. Although one forecaster believed winter had one last blast of cold conditions left in it for next week, most traders were discounting any major surge of demand before spring officially arrives March 20.
Most Points Keep Falling as Cold Weather Fades
A few flat to a little more than a dime higher western points notwithstanding, most of the cash market continued to sink Monday as what appeared to be the last vestiges of winter weather receded into the distance. Although one forecaster believed winter had one last blast of cold conditions left in it for next week, most traders were discounting any major surge of demand before spring officially arrives March 20.
Screen, Milder Forecasts Result in Overall Price Dips
A few flat to about a nickel higher points in the Rockies, where Wednesday lows were due to sink into the teens, were the exceptions to price dips throughout the rest of the market Tuesday. A futures decline of 9.7 cents a day earlier contributed to the bearishness along with analyst reports of early February forecasts indicating that the weather would not be quite as cold as previously expected.
Screen, Milder Forecasts Result in Overall Price Dips
A few flat to about a nickel higher points in the Rockies, where Wednesday lows were due to sink into the teens, were the exceptions to price dips throughout the rest of the market Tuesday. A futures decline of 9.7 cents a day earlier contributed to the bearishness along with analyst reports of early February forecasts indicating that the weather would not be quite as cold as previously expected.
Most Points See Small Gains as Colder Weather Returns
Prices were up by generally small amounts at most points Monday as seasonal winter weather was returning to most of the East. The previous Friday’s surge of 20.4 cents by futures and the return of industrial load from its usual weekend hiatus also helped to boost the cash market.
Most Points See Small Gains as Colder Weather Returns
Prices were up by generally small amounts at most points Monday as seasonal winter weather was returning to most of the East. The previous Friday’s surge of 20.4 cents by futures and the return of industrial load from its usual weekend hiatus also helped to boost the cash market.
Nearly All Points Down as Cold Keeps Receding
With the previous two weeks’ siege of especially cold weather coming to an end in most areas, prices fell at nearly all points Tuesday. The Florida citygate plunged nearly $5 despite Florida Gas Transmission keeping an Overage Alert Day in place. Northeast citygates, which had been averaging above $10 at times last week, were failing to reach the $7 level as they repeated in having most of the largest declines.
Cold Weather Unable to Deter Cash Market Softness
The cash market finally bowed to futures weakness by falling at nearly all points Thursday despite some increases in heating load due Friday. Even with low temperatures predicted to reach sub-freezing levels at some locations in the northern sections of the South, it appeared that many buyers preferred to start tapping their storage accounts rather than procure more expensive spot gas.