Wednesday’s novelty of a homogenous market that had pricesrising in all regions failed to carry over into Thursday. Insteadtrading tendencies reverted to the previous pattern: generallysofter in the East and flat to a little higher at most Westernpoints. The biggest drops of about a dime occurred on theAppalachian pipes.
Articles from Regions
Cash Prices Hot in West But Cool in East
Hot weather appeared to be the primary driver of gas pricesMonday. When you’ve got it, as regions from the Rockies westwarddid, quotes went up by about a nickel at many points; when youdon’t have it, as the relatively balmy Midwest and Northeast marketareas didn’t, prices were flat to down as much as 7 cents.
Only California, Rockies See Substantial Rebound
Except for a couple of Western regions, cash prices Mondayfailed to realize the strong post-holiday recovery from Thursday’splunging numbers that sources had expected. Weakness in the futuresscreen acted as an obvious drag on Eastern prices, which weremostly flat to less than a nickel higher. And one trader felt thelarger upticks in the Rockies and San Juan Basin and at theCalifornia border were more a case of “them being so weak justprior to the holiday” than any great strength in Western markets.
Little New Price Movement Seen in Any Market
Enough cold weather was either arriving or developing Tuesday inthe northern and western regions of the U.S. to arrest, at leasttemporarily, the mild price slide that had begun the week. For achange there was remarkable cross-market consistency in thatvirtually all points traded flat to up or down a couple of cents.