Holiday drains basis market liquidity; most points remain relatively stable

摘要

Liquidity was thin before and after the US Independence Day holiday weekend, with most financial basis markets barely budging this week despite a net 9.4-cent loss by the NYMEX August gas futures contract between July 1 and Wednesday. In the West, Northwest Pipeline at Sumas, Washington, recorded the sharpest decline as August basis fell 3.25 cents to finish Wednesday at minus 31 cents/MMBtu. Balance-of-summer packages also weakened, although losses were again fairly moderate, falling 1 cent to minus 28 cents/MMBtu.