Prices continued to advance at a solid majority of points Tuesday, but the gains were considerably less robust than Monday’s, suggesting that this week’s heat-inspired rally may be starting to lose steam. Mixed price movement remained in play as a few scattered points saw flat quotes or modest declines.
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Super-Bearish Storage Likely to Punish Weekend Prices
With a southeastward-moving cold front starting to wipe out much of the eastern heat that had boosted prices as the week began, the cash market continued to decline Thursday except for some flat to barely higher San Juan/Rockies numbers. In most cases, however, the drops were smaller than those of the day before. Thursday’s losses tended to range from about a nickel to a little more than 30 cents, with the largest ones being recorded in the Northeast.
June 27, 2003
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