In a now-familiar pattern, prices rebounded at nearly all points Monday by amounts ranging from about a nickel to half a dollar or so. Although cold weather forecasts weren’t able to keep quotes from falling Friday, enough moderate heating load is lingering early this week that along with the return of industrial demand from its usual weekend slump, sellers found no shortage of ready buyers.
Recedes
Articles from Recedes
Traders Anticipate Continuation of Softening Trend
Sources expect Tuesday’s generally mild softness to continue as air conditioning load recedes in the East and there is no near-term tropical storm threat to offshore Gulf of Mexico production. As if to reinforce their outlook, the energy futures complex experienced steep price dives Tuesday, with the August natural gas contract falling nearly a quarter and its crude oil counterpart plunging about $2 in expiration-day profit taking.
July 23, 2003
Non-Rockies Prices Keep Falling as Storm Threat Recedes
With tropical storm threats fading rapidly and demand fundamentals staying on the weak side, cash prices ignored a major expiration-day rebound by October futures and continued to fall everywhere except in the Rockies Thursday. The Rockies gains were small at a dime or less, while losses elsewhere tended to range from about 2 cents in Northern California to nearly half a dollar at some Northeast citygates.
September 27, 2002
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