Prices were higher in all of the cash market Wednesday, driven primarily by stubborn wintry weather across Canada and much of the northern U.S. — even though the seasons officially transitioned into spring last Sunday — and secondarily by the previous day’s advance of 9.3 cents by April futures. And as a producer had suggested Tuesday, storage buying for price arbitrage opportunities (and maybe by some traders who just wanted to get a jump on the traditional injection season) likely helped boost demand further.
Stubborn
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Puget Energy Sets Demand Record on Northwest Cold Spell
A stubborn cold front that has enveloped the Pacific Northwest sparked record natural gas and electricity sendouts for Bellevue, WA-based Puget Sound Energy (PSE) Tuesday, eclipsing a power demand marker that had stood for a decade, according to the combination utility. With forecasts for continued colder-than-normal temperatures in western Washington state, PSE was advising its customers to use power and gas wisely.
December 18, 2008
Cash Quotes Finish Week on a Rising Note
Buoyed by run-ups throughout the energy futures complex the day before and the stubborn refusal of wintry weather to exit the market stage in some areas, cash prices recorded across-the-board gains in Friday’s trading for weekend flows.
March 15, 2004
Despite Bearish Storage, Support Holds Yet Again
After failing to pierce through stubborn support, natural gasfutures rumbled higher yesterday afternoon as traders looked pastbearish storage data to focus on bullish technicals. The Februarycontract received the biggest buying boost, stretching 16.9 centshigher to close at $7.115.
January 25, 2001
Futures Finish Flat After Resistance Holds
After twice failing to bust through stubborn resistance at$4.48, natural gas futures gave back early session advancesyesterday to finish just about unchanged on the day. A slim loss inthe September contract was more than offset by modest advances inthe out months. While September finished 0.7 cents lower at $4.406,the 12-month strip was up 2.6 cents at $4.099.
August 18, 2000
Pre-Weekend Profit-Taking Takes Bite Out of Midweek Gains
After testing, but not breaching stubborn resistance at $4.60Thursday, natural gas futures tumbled lower Friday as traderselected to take profits ahead of the weekend. The near-month Julycontract was hit with two distinct selling waves during the firsthour of trading Friday, setting the tone for a session in which thecontract slipped 10.3 cents to finish at $4.448.
June 26, 2000
Resistance Redirects Market Lower; Bears Target Support
After trading up to, but not through, stubborn resistanceMonday, natural gas futures eased yesterday as fund tradersliquidated a portion of their long positions amid bearish technicalconditions and ahead of warming temperatures expected in theNortheast U.S later this week.
March 15, 2000
August Futures Remain Mired In Trading Range
$2.43 continued to be a stubborn resistance level for the AugustNymex contract on Thursday, as yesterday marked the fourthconsecutive day the spot month failed to move above this key shortterm price objective. On the other hand, Thursday was also thefourth day in a row that August failed to move below key technicalsupport at $2.32. The inability for August to move significantly ineither direction helped lead the contract down 1.7 cents to settlethe day at $2.349.
July 10, 1998
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