Cash prices proved remarkably resistant Friday to the softnessthat usually accompanies lowered demand for a weekend period. TheGulf Coast and Northeast citygates were essentially flat, whilemost of the small declines were concentrated in the West andMidcontinent. Sources attributed the relatively firm pricing tomodest support from a slightly higher futures screen, along withtrader anticipation of a return to hotter weather morecharacteristic of June than last week’s below-normal thermometerreadings throughout much of the East.

The anticipation mentioned above was already showing up in somedeals done Friday. A marketer whose weekend El Paso-Permian quotesaveraged $2.13 said he also traded three Monday-only packages fornearly a dime higher with people who were expecting even higherwestern temperatures early this week.

A large aggregator said it seemed like there were five sellersfor every one buyer Friday, even though his Appalachian andNortheast citygate quotes were flat to down only a penny. “You hateto see such a lopsided ratio, but that’s how it was,” he added.There was hardly any demand in Transco Zone 6 (non-New York City),he said; “it’s just too cool up there.”

When swing gas retreats to near first-of-month index levels asit is at many eastern points, the aggregator continued, it createsa big incentive for increasing storage injections. He didn’t thinkhe would have had much weekend market at all in the Northeast ifnot for storage buyers.

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