The National Weather Service may have been off a bit when it predicted above-normal temperatures during the current workweek in nearly all of the eastern three-fourths of the United States. (see Daily GPI, Nov. 12). Traders returned from rather mild weekends in many cases to find forecasts of Tuesday lows in the 20s, 30s and 40s in Canada and most of the northern U.S., spreading as far south as the Midcontinent and Texas. The result was flat to much higher prices at all points Monday.

The return of industrial load from its usual weekend hiatus provided an extra bullish note for the market, but cash quotes had only minuscule support from the previous Friday’s 2.2-cent increase by December futures.

Flat numbers into Questar made it the only pricing point to be left out of gains ranging from about a nickel to C80 cents or so (Empress).

The physical market will have much more substantial prior-day futures backing Tuesday after Nymex traders sent the prompt-month gas contract 22.2 cents higher amid major price strength throughout the energy futures complex (see related story).

Friday’s across-the-board plunges had left only the PG&E citygate still averaging more than $3, but on Monday the big rally carried two other California points, several Midwest/Northeast locations and the two Alberta points into $3-plus territory again.

Milder conditions are likely to be returning in some areas around midweek, but snow remained in the Tuesday forecast for several mountain areas in the West, the central to Upper Plains region and even as far south as the Ozark Mountains of northwest Arkansas, according to The Weather Channel (TWC).

However, the South can expect to stay unseasonably cool for a while longer as a storm system pushes a cold front into the Tennessee Valley and the Southeast Tuesday and Wednesday, TWC said. And the Houston area is predicted to see a second straight day of lows in the mid 40s Tuesday before a warming trend starts Wednesday.

A Midwest marketer said her region was decidedly colder Monday than it had been during a moderate weekend and should stay fairly chilly through the end of this week. But she was at a loss to understand why prices jumped so high Monday, saying it was “not all that cold.” A new Michigan citygate package had cost $3.17 for Tuesday, she said, while delivered prices in Michigan had only been in the low $2.50s going into the weekend.

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