For utilities and end-users still shell-shocked from the sky-high spikes of Monday and Tuesday, it may have seemed like re-entering a nightmare they thought they had already awakened from. Dollar-plus price gains — often plus much more than a dollar — were back in vogue Friday, as traders shrugged off the normal demand slump that accompanies a weekend and focused instead on a screen advance of more than 60 cents and prospects that this week largely will repeat the cold-weather pattern of the previous one.
Shocked
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Greater Focus on Domestic Energy Expected as War Nears
While energy analysts remain shell-shocked following the brazen terrorist attacks on the nation’s financial distriction and admit they have “no answers” for industry, some predict that the war-provoking events may cause the public, Capitol Hill lawmakers and investors to look more favorably upon North American energy producers, service companies and pipelines.
Analysts See Greater Domestic Energy Focus Amid Crisis
While energy analysts remain shell-shocked following the brazen terrorist attacks of last week and admit they have “no answers” for industry, some predict that the war-provoking events may cause the public, Capitol Hill lawmakers and investors to look more favorably upon North American energy producers, service companies and pipelines.
Holiday Weekend, Mild Weather Send Prices Tumbling
No one appeared to be shocked when the September aftermarket got launched Friday with prices way below both bidweek and end-of-August levels. The double whammy of a long holiday weekend coupled with decidedly weak weather fundamentals proved to be a potent price-cutter. All Rockies/San Juan and a few other scattered points fell below $2. Rockies pipes were seeing their first sub-$2 averages since trading for June 11 flows.
Initial Aftermarket Softening Is Greater in the East
It shouldn’t have shocked anyone when the October aftermarketstarted out weak; after all, a number of sources had beenpredicting such a situation to NGI all week. The softening fromindex levels in swing deals done Thursday for today-only flow wasdivided somewhat on a geographic basis: declines of 15-20 cents ormore in the East were considerably greater than those in the West,which generally were less than a dime. California points evenmanaged about flat showings.