Aftermarket Strength Credited to Screen Run-Up

The April aftermarket got off to a running start with swingdeals being done Tuesday often 2-3 cents above bidweek averages,with a few points even stronger than that. Sources were virtuallyunanimous in attributing the cash strength to a further run-up onthe futures screen. In fact, traders were buzzing all day about thedizzying heights being hit by the May contract, often withquestions like, “What the heck is driving this thing?”

April 1, 1998

Prices Start to Retreat from Storm-Related Heights

Sources figured it was only a matter of time before this week’swinter storm-related price hikes started to fade, and the time wasThursday. Softening was only slight at most points, however, andseveral registered as flat. The biggest drops of more than a nickeltended to occur in the markets that had seen the biggest increasesearlier in the week, such as Northeast citygates and NorthernNatural-demarc.

March 13, 1998

PNGTS, Maritimes Break Ground for New England Pipes

Marking the start of construction related to projects thatultimately will increase pipeline capacity into New England by morethan 20%, Portland Natural Gas Transmission System (PNGTS) andMaritimes & Northeast Pipeline began a crossing of thePiscataqua River between Newington, NH, and Eliot, ME. The crossingis the first stage in the construction of the PNGTS/Maritimes JointFacilities Project, which represents the southernmost portion ofeach pipeline.

March 4, 1998

April Futures Follow March Cash Prices Lower

The April Nymex contract got off to a fast start Thursday byopening at $2.32 and quickly moving to $2.34. However, strongtechnical selling kicked in at that point, so much so that Aprilslid back to settle the day down 3.4 cents at $2.284.

February 27, 1998
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