"We'll probably be buying on the spot market because we don't want to be pulling on our storage just yet. It's a little early in the season to start overruns and things like that. We'll take our allowable out of storage and pick up extra if we have to. Our loads are a little greater than the number of degree days would indicate, but we'll get by."
Deliveries for the weekend and Monday on Alliance slipped 9 cents to $3.65, and gas at the Chicago Citygates was down 8 cents at $3.66. Deliveries to Northern Natural Ventura changed hands 9 cents lower to $3.59, and at Demarcation weekend and Monday parcels fell 8 cents to $3.58. Gas on ANR SW was down 3 cents at $3.32.
Temperature forecasts for the region generally hovered around normal, providing little stimulus to purchase any incremental gas. Wunderground.com forecast that Chicago's Friday high of 51 degrees would rise to 57 Saturday but drop to 48 Monday. The normal high in Chicago is 53. Milwaukee's 48 high on Friday was expected to reach 50 on Saturday before sliding to 45 on Monday. The normal high in Milwaukee in early November is 50. Detroit's high Friday of 43 was seen making it up to 52 on Saturday before sliding to 48 on Monday. The normal high in the Motor City is 50.
At Northeast points, prices for weekend and Monday deliveries plunged as forecasters called for load-killing rain and overcast conditions. The National Weather Service in southeast Massachusetts said showers would linger into the evening hours [Friday] as high pressure was expected to build in from the west into Saturday. Low pressure was expected to move over northern New England later in the weekend. Another cold front may bring a round of showers to the area early next week.
At the Algonquin Citygates, weekend and Monday deliveries plunged 53 cents to $3.96, and gas into Iroquois Waddington slid 6 cents to $3.75. Gas on Tennessee Zone 6 200 L fell 49 cents to $3.91.
Packages on Dominion were down 12 cents to $3.16, and on Tetco M-3 weekend and Monday gas fell 19 cents to $3.32. Deliveries to New York City on Transco Zone 6 fell a quarter to $3.35.
Rockies points were also soft. Gas on CIG skidded 4 cents to $3.31, and at the Cheyenne Hub packages came in at $3.37, down 8 cents. On Northwest Pipeline Wyoming, weekend and Monday gas slipped 9 cents to $3.34. Deliveries to Opal were seen 6 cents lower at $3.38.
Forecasters were calling for a hefty surge of cold into the Midwest. Commodity Weather Group in its Friday morning six- to 10-day outlook showed below-normal temperatures running in a northeast-southwest direction and bordered by northern Michigan, northern Illinois, and North Texas. "This week's six-10 day cold sneak attack surprise story is now starting to progress forward into the end of the one- to five-day range, and this is leading to some moderation of the six-10 composite map, especially for the Midwest and Plains," said Matt Rogers, president of the firm Friday.
"The brunt of the Midwest cold push is around days five-six (Tuesday-Wednesday) with highs only in the 30s for Chicago and lows in the low 20s. Highs for New York City by the middle of next week are only in the 40s. Texas is not spared either, with lows in the 30s in Dallas next Wednesday and Thursday now. Return warming is then faster late next week for the Midwest and then East, but the guidance is mostly favoring a more variable pattern situation in the 11-15 day rather than a sustained, bigger warm one as thought earlier this week. Changes in high-latitude patterns are giving mixed signals for late November."