Bolstered by the return of hotter weather to some regions and a screen gain of nearly a dime, nearly all points ranged from flat to about a nickel higher Tuesday. A PG&E citygate gain of slightly more than 15 cents, coupled with declines of about a dime at Malin and about 25 cents at Southern Border into PG&E, were the primary exceptions to mild firmness.

Where the market goes from here is anybody’s guess, sources said. This afternoon’s storage report will provide some guidance, but it won’t be released until after cash trading is finished for the day. Most prior injection estimates appeared to fall within the range of 90-100 Bcf. One trader expressed doubt that air conditioning load will be enough to sustain another round of upticks by itself.

A Northeast buyer said citygate numbers were rising by about a dime in late trading. He wasn’t sure of the reason because regional temperatures were still fairly moderate and the screen rise had already been factored into earlier deals. He agreed with quite a few other sources that the general market remains on the “very quiet” side and is likely to stay that way for a while longer. “We don’t want a lot of volatility, but would prefer a little more action than this,” the buyer added.

PG&E citygate strength was largely attributable to the utility’s linepack nearing minimum target levels following high-linepack OFOs over the weekend, a marketer said. He also pointed out that agricultural load was starting to pick up in the Golden State as companies begin annual food drying and canning operations. “Fortunately the weather is mild enough that it’s not causing a price spike,” he said.

©Copyright 2001 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc.