Cash prices on average skidded about another dime overall on Friday as surging prices at a couple of points in the Northeast couldn’t balance an overall weak tenor to an oversupplied market. Midwest points slipped less than a dime, but Gulf and eastern points suffered double digit losses. At the close of trading January futures had made it five straight losses in a row for the week and settled at $3.314, down 3.3 cents and February lost 3.1 cents to $3.358. January crude oil added 84 cents to $86.73.
Skidded
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Cash Market Steady As She Goes; Futures Inch Higher
The physical market overall was largely unchanged Friday although points in the Northeast skidded on forecasts of mild weather. Prices across the Midwest and the Gulf showed no more that a couple of pennies’ movement either way. At the close of futures trading June had risen 2.2 cents to $2.509 and July was up by 2.0 cents to $2.589. June crude oil fell 95 cents to $96.13/bbl.
May 14, 2012
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