The market was “kind of back to normal,” as one trader expressed it, Wednesday following the fundamentals-defying firmness of the previous day. Bowing to the unseasonably mild temperatures dominating all regions (Florida remained something of an exception), prices fell by about a dime or less at a majority of points.

Most of the major exceptions to moderate softness came at Northeast citygates, where previously high-flying quotes continued to drop faster than the overall market. Northeast declines ranged from around a quarter to a little more than 30 cents.

But Florida citygates registered the day’s really big dive of a little more than 80 cents. The Sunshine State’s spell of unusually cold weather, which prompted sole pipeline supplier Florida Gas Transmission to extend a low-linepack notice into its eighth straight day Wednesday (see Transportation Notes), will be lifting a bit today, although temperatures will still be under seasonal norms, according to one forecasting service. At nearly $3.30, Florida citygates still reigned as the market’s most expensive point by far.

Cash traders were unable to muster much excitement about the heating season’s first reduction of the year-on-year storage surplus (see related story). AGA said Wednesday afternoon that 190 Bcf had been withdrawn last week, surpassing both prior expectations and the year-ago report of 167 Bcf. But the 23 Bcf cut in the surplus hardly incited any bulls to start stampeding. A producer’s comment was typical: “What difference does it make anyway? We’ve still got an overhang of more than 1 Tcf and barely half of the normal withdrawal season left.”

A cold front was moving southward through the Upper Plains/Upper Midwest area, but even the resultant drop in temperatures behind it still left conditions about 15 to 20 degrees above normal in many areas, according to The Weather Channel.

Operations at the Opal Plant have returned to normal and no plant nominations are getting cut, a Rockies trader said.

Most sources look for small to medium price declines to continue today in what has been light, quiet activity this week. However, a Gulf Coast producer saw potential for some flatness, saying that as of late afternoon Henry Hub swing swaps for Friday were trading at $2.30, barely below Wednesday’s average.

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