Cash prices across the board followed through on Monday’s Nymexrise by gaining a dime (or more in some cases) yesterday, andexcept for the Alberta market, nobody had any plausible fundamentalreason to explain the changes. Ranges continued to tighten fromlast Friday’s and Monday’s wide-open spaces, a marketer said. Hethinks the market will continue to be range-bound “until we getsome cooling load.” Supply and demand are currently well balancedand storage inventories are far ahead of last year’s, so he doesn’texpect the gas market to heat up until the weather does, “and thatmay not happen until June [futures] is off the board.”
Rise
Articles from Rise
May Prices Rise a Bit After Expiry, But Will It Last?
It seemed reasonable to expect that with the Henry Hub futuresprice barely budging on its last day of trading, cash numbers forMay wouldn’t be moving much in either direction either, as a coupleof sources said prior to the screen expiry Tuesday. Yet tradersreported prices rising a few cents in several markets in afternoondeals. A marketer whose Chicago citygates were in the low $2.30sMonday submitted quotes in the mid to high $2.30s Tuesday. AndPermian Basin gas traded at $2.08-09 most of the day but bumped upto $2.11-12 after the screen closed, a producer said.
April 29, 1998
Weather or Not, Prices on the Rise Again
The cash market once again ignored spreading mild weatherWednesday and posted price gains that were most often around anickel. Although the central and northern Atlantic Coast regionswere still feeling some late-winter chill, most of the rest of thenation ranged from spring-like to somewhat summerish. So the pricestrength again derived from the screen, sources concluded. It onlyemphasises, one said, that “this market never really has been doingwhat the weather indicates it should this winter.”
March 26, 1998
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
