The cash market shrugged off what many considered a bearishstorage withdrawal report and maintained what has become February’sstatus quo Thursday: flat pricing with mostly tight ranges. Sourceswere dismayed to admit their general expectation Wednesdayafternoon of falling prices Thursday was off the mark. “Nothingseems to be moving this market in any direction,” a marketer in theWest said.
Shrugged
Articles from Shrugged
Forecasts, Storm Hype Buoy Cash Prices
Tuesday’s cash market prices shrugged-off a late plunge on theNymex futures screen on Monday, as they edged upward on hype fromthe first big snowstorm of the season. Most price points added acouple of cents to Monday’s gains as a powerful storm system plowedeastward after tormenting the midsection of the country. Accordingto weather services, several inches of snow accumulated from theDakotas southwestward to Colorado and the mountains of northern NewMexico and Arizona.
November 11, 1998
Nymex Yields Gains-Before, After Final Bell
The futures market shrugged off another bearish AGA storagereport and quietly traded higher at Nymex Thursday. After testingsupport in the $1.88-89 span early, the September contractrebounded to the mid-$1.90s where it remained in afternoon trade.The prompt month settled at $1.953, up 3.6 cents on the day.
August 21, 1998
Futures Mostly Flat on ‘Neutral’ Storage Report
The futures market shrugged off the latest AGA storage reportand made modest gains Thursday in a session notably devoid of freshnews. The August contract was limited to a narrow 5-cent range,settling up 1.4 cents to $1.948.
July 24, 1998
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