Except for isolated upticks in the Northern California market and only mild softness at Pacific Northwest points, prices for last-of-May flow fell by about 15 cents or more Wednesday. A negative screen during the morning provided no support for cash traders, and weather fundamentals are still too mild to create substantial air conditioning load, sources said.
Upticks
Articles from Upticks
California Upticks Out of Step With Overall Declines
As many traders had expected, the moderation of cold weather ineastern markets and the screen’s expiration-day dive were enough todrive the late-March swing market sharply lower in nearly all casesThursday. Only new increases at the Southern California border andPG&E citygate defied the overall downtrend.
Most Prices Falling; OFO Pushes N. California Higher
Except for OFO-inspired upticks in Northern California, the restof the cash market was on a downhill track Tuesday following theholiday weekend. Most declines were in the range of 20-30 cents,but tended to be larger in the Northeast and got as high as about70 cents at the Southern California border.
Price Slump Slows; West Coast Sees Moderate Upticks
Prices continued to fall in most markets Tuesday, but at aconsiderably slower pace than the previous day’s plunges. Mostdecreases were around 30 cents or less, while California points andStanfield achieved gains from a little less than a dime to about 35cents as more seasonable weather returned to the West Coast.
Most Markets Only Moderately Softer for Long Weekend
Except for moderate California upticks, the cash marketcontinued to soften Friday but by much smaller amounts than the daybefore. Most points ranged from flat to down about 30 cents, butdeclines were larger at Stanfield and several Northeast citygates.
Zone 6-NYC Spikes to $37, But Most Prices Falling
Except for some upticks in San Juan Basin and at Northeastcitygates (especially strong in both of Transco’s Zone 6 pools),late-December swing prices stayed on a downhill slide Wednesday.Declines ranged from mildly softer to more than $2 lower atStanfield, but most were within the range of 40-70 cents.
Rockies/San Juan Upticks Stand Out in Flat Market
Lacking little new input from weather or futures, the cashmarket decided to take it easy for the most part Tuesday. Flat toslightly higher pricing dominated in most areas, with most of thelarger gains of about a dime or more occurring at Rockies/San Juanpoints.
Small Upticks Seen but Bulls Now on Shaky Ground
Most cash points continued their rise yesterday, but thepredominantly bullish sentiment among traders that was evidentearlier in the week showed signs of cracking. Few gains exceededmore than a nickel, while the scattered declining points fell nomore than a penny or two.
Most Points Below Index But Up From End of March
Weekend prices were up by a few cents from end-of-March numbersin most cases Friday. The biggest upticks of about a dime or morewere concentrated at Northeast citygates and also at NorthernNatural’s demarc and Ventura points, where a bit of market-areachill lingered. Small declines of less than a nickel wereregistered in the Southwest basins and California.
Modest Upticks Expected to Yield to a Plunge Today
Most of the cash market ranged from flat to a little over anickel higher Monday, but that mild showing of firmness isn’texpected to survive into today.