Analysis by Martin Trotter
Prices were up throughout the day Monday, closing around 4 cents higher than the previous mark, at $3.25/Dt. Still, prices were about $.15 lower than the previous week. Short term models show a colder than normal band of weather wrapping from the Pacific Northwest down through Texas and around to the Southeast before warmer weather returns to most of the Mid Con. Prices have been volatile in recent weeks as a result of back and forth patterns like these, but the most recent draw on storage pushed inventories further below the 5-year average – additional cold snaps could work down inventories and cause a gradual increase in prices due to lessening supply.
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