The tiny futures increase Monday seemed insignificant but mighthave been a harbinger of a much stronger rise Tuesday that carriedcash up with it. As has often been the case in the past, sourcesdragged out the old refrain of “following the screen” to explain…why cash was rising. Most points west of Waha were flat to only acouple of cents higher, and Rockies prices even fell a bit, butother markets tended to see upticks of 4-9 cents. Activity wasdecidedly more intense following what many people had considered a”boring market” Monday.
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Will Cash Ride Futures Market Momentum?
The cash market hemmed and hawed again Tuesday morning, leavingprices virtually where they were last Friday. However, the futuresmarket would not go quietly. After a fairly unremarkable session tostart the week, the bulls once again had their way, pushing the Maycontract up more than 13 cents for the day(please see futures story). Cash prices were mostlyimmune to the strength.
April 8, 1998
Some Discord on PG&E’s Gas Accord
The first bidweek under Pacific Gas & Electric’s Gas Accordtransportation framework was a rough ride for many doing businessin the drastically changed northern California market. WhilePG&E went ahead with its massive computer system upgrade onschedule, few shippers were prepared to handle it.
March 9, 1998
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