Cash prices softened a bit Tuesday in mostly featureless tradingas major markets in the Midwest and Northeast cooled off. Themajority of points saw prices ranging from flat to down about anickel with no single region standing out as especially strong orweak. About the only exception to that general rule wasintra-Alberta, which started off around Monday’s C$2.04-05 averagebut quickly ramped up to near the top end of Monday’s range andwound up gaining about a nickel overall, a marketer reported. Forwhatever reason provincial field receipts have been lower thanexpected this week, she said, although only a few plants are stillundergoing annual turnaround maintenance.
Quiet
Articles from Quiet
Midwest Prices Fall Despite Record Power Loads
The futures screen may have been active Thursday but it waspretty quiet in the incremental cash market, a Houston trader said.Most points were flat to a bit softer, with the biggest drops ofabout a nickel or more occurring in the markets that had alreadybeen weak in the previous couple of days: the Rockies andCalifornia. Northeast citygates in Transco’s Zone 6 managed to ekeout small gains.
June 26, 1998
Short Covering Prompts Nymex Spike
Tuesdays and Wednesdays have been quiet lately at the New YorkMercantile Exchange with traders, brokers, and marketers waitingcalmly in anticipation of the weekly AGA storage report. In fact,since the end of April, daily changes to the spot month contract onthose days have been small, averaging slightly more than 3 centswith no change greater than 8 cents. However, this is natural gasand just when you think you have things figured out, it throws youfor a loop. This week, July plummeted on Tuesday to the tune of11.1 cents only to rebound 18.5 cents on Wednesday. That left thespot month at $2.174 at the close of the regular trading sessionWednesday afternoon.
June 18, 1998
July Fizzles Lower Ahead of Storage Report
The July contract slipped ever-so-slightly yesterday during aquiet trading session as many traders elected to remain on thesidelines in anticipation of the AGA’s weekly storage report. Julywas limited to a tight nickel range settling down 0.8 cents to$1.93. Estimated volume was 47,000.
June 11, 1998
Quiet Cash Market Mostly Flat to a Little Lower
A number of traders were experiencing early cases of the”Summertime Blues” Monday due to what they perceived as a verylackluster market. “It will be easy to report the prices todaybecause they’ve hardly budged” from Friday, a Gulf Coast marketertold Daily GPI. Another source quoting flat to slightly lowerChicago citygates in the mid $2.00s noted he was “just sitting hereyawning.”
June 9, 1998
Futures Bend But Refuse to Break
The May futures contract suffered a third straight day of lossesby slipping a mere 0.6-cents to settle at $2.469 in relativelyquiet trading. The session was marked by light selling as bearsprobed for sell-stops but was kept in check by buying ahead of the2.435-.440 level. A modest 31,695 contracts changed hands in asession that saw no new fundamental developments.
April 21, 1998
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