A wave of frigid winter air forecast to sweep out of northwestern Canada and Alaska next week could bring single-digit and below-zero high temperatures to much of the United States through the third week of January, AccuWeather.com said Thursday.
Articles from Sweep
Futures Hit Three-Month Low, Finish Week 78.8 Cents Lower
The bears made it a clean sweep for the week on Friday as July natural gas futures dropped an additional 21.8 cents to finish at $7.130. The cumulative result of the five consecutive lower closes was a 78.8-cent drop from the previous Friday.
Most Points Soften on Forecasts of Mild Weather
Prices that were flat to about 15 cents higher at several western points averted a clean sweep of cash market softness Monday. Overall, traders responded to prospects for spring-like weather with little heating load in most areas this week, along with Friday’s futures dip of 15.6 cents, by pushing prices anywhere from a couple of pennies to about 45 cents lower at a solid majority of points. Many of the largest losses were concentrated at Midwest and Northeast citygates.
Only Rockies Points Avoid Weekend Softness
Upticks by as much as about 70 cents at a few Rockies locations averted a clean sweep of declines in the cash market Friday. All other points recorded losses in bowing to the dearth of heating load in most areas. A dime-plus fall by January futures a day earlier and the usual weekend slump of industrial demand further weakened cash quotes.
Barton Eyes House Republican Leadership Post
Rep. Joe Barton (R-TX) said he may challenge current House Majority Leader John Boehner (R-OH) for the position of Republican leader in the wake of the Democratic sweep in the mid-term elections.
Most Points See Modest Gains; TS Debby in Works?
Several flat to marginally lower prices (mostly in the West) again prevented the cash market from making it a clean sweep of increases Tuesday. Otherwise, lingering heat, although not anywhere near as bad as in late July and early August, allowed prices to ignore a dime drop in futures the day before and record gains of anywhere from 2-3 cents to nearly 45 cents.
Most Cash Prices See Moderate Softness
Most points recorded single-digit declines Wednesday, with a few others falling by up to nearly 20 cents. A clean sweep of softening was averted by a few scattered points that ranged from flat to a little more than a dime higher.
Nearly All Points Down for Holiday Weekend
A modestly higher Gulf Coast point prevented a clean sweep of continuing price softness Thursday. A lack of weather-related demand, the additional loss of industrial load associated with a long holiday weekend and prior-day screen weakness combined to send prices lower at all other points.
Nearly All Points United in Weakness
Only a few flat to barely higher western points averted a clean sweep of softening in cash prices Thursday. A small prior-day screen decline joined already-negative weather and storage influences in putting downward pressure on the market.
Milder Weather Trends Push Prices Lower
Only an advance of less than a dime by El Paso’s Bondad pool in San Juan Basin averted an across-the-board sweep of falling prices Friday. Quotes were pressured lower by dwindling heating load in the East, the previous day’s screen drop of 6 cents and the slump in industrial demand that typically accompanies a weekend trading period.