The usual demand fall-off associated with a holiday weekendfailed to prevent Friday’s cash market from rejecting the slightlysofter trend that had appeared to be developing Thursday. Insteadthe long-lasting trend of little to no price movement reasserteditself at nearly all points. A Western source said recent tradinghas been “like that movie Groundhog Day, because every morning Iwake up and the market is at the same place. The only difference isAndie McDowell [Bill Murray’s female co-star in the movie] has yetto show up.”

Although some dismissed the cold front that made an eastboundcross-country trip last week and was reaching the East Coast Fridayas inconsequential because it was passing through regions soquickly, the front apparently had enough demand punch to keep mostproducing-area prices flat and even boost Northeast citygates byabout a nickel. Nearly all Transco Zone 6-New York City quotes wereon the plus side of $2 again.

But according to a Gulf Coast marketer, “There’s just not muchweather out there, and utilities aren’t pulling any incremental gasat all.” He looks for the sideways direction of prices to continuethrough the March bidweek.

Western prices generally started higher Friday and came back offas the day went on, a Texas trader said. Indeed, the few scatteredsmall declines were mostly in the West.

A Midcontinent trader couldn’t understand why Northern NaturalGas kept a System Overrun Limitation in effect going into theweekend. It’s hardly affecting the market at all, he said. At firsthe thought maybe NOVA’s rupture was curtailing Canadian suppliesinto the Midwest, “but plenty of gas is reaching the Albertaborder, and from there on TransCanada is wide open.”

Virtually all of Friday’s deals were done through Tuesday,although a surprisingly large number of producers and marketingfirms said they would not be taking off for Presidents Day. Forthose working Monday, a producer said, it will be a day “for justcatching up on paperwork and other things.”

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