Overall prices tended to soften again Thursday, but the declines were considerably smaller than those on Wednesday in most cases. Except for a maintenance-related implosion in the Rockies market and a hefty drop on still-most-expensive Columbia-Appalachia (TCO), the great majority of points ranged from flat to less than a dime lower, and a couple saw moderate gains.
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Mild Firmness Expected to Yield to Price Blowout
This week’s climb in the cash market slowed down Wednesday, butwatch out for the fireworks that are virtually a certainty today.
Lower Prices Yield to Lack of Load, Plenty of Supply
The cash market finally caved in Friday under the weight of verylittle heating demand and abundant available supplies, sendingprices lower for the first time in the fledgling March aftermarket.
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.
Capacity Opening on El Paso May Yield Cheaper CA Prices
The controversial two-year period in which Dynegy Marketing andTrade held a huge chunk of El Paso’s firm capacity to the SouthernCalifornia border is coming to an end, and western gas traders arelooking for a new market regime in the new millennium. Unless thepipeline manages to negotiate a deal for most if not all of thecapacity expiring at the end of 1999, traders are expecting theabundance of transportation space from Southwest basins to theborder to lower regional prices next year.
Friday Doesn’t Yield Much at the Merc
It was pretty much a nothing day at the New York MercantileExchange on Friday, as the spot June contract could only move 2.2cents lower to settle the day at $2.178. Trading was limited to atight 4 cent range.