Thursday’s cash market was a near-repeat of the one a day earlier. Flat to modestly higher numbers again dominated at eastern points, while most of the moderate softness remained concentrated in the West.

Most points were flat to about a dime higher, while losses ranged from 2-3 cents to a little more than half a dollar. However, only one point recorded a downturn of a little more than a dime.

The Energy Information Administration’s report of an 89 Bcf addition to storage during the week ending June 11 was slightly less than consensus expectations in the low to mid 90s Bcf. Nymex traders took that as a bullish signal, sending July futures up 18.4 cents (see related story).

Although Florida Gas Transmission (FGT) extended an Overage Alert Day through at least Thursday, it loosened the tolerance for negative daily imbalances from 15% to 25%. The result was the day’s largest decline at the Florida citygate and flat quotes into FGT’s three production-area zones.

IntercontinentalExchange (ICE) reported fairly large declines in trading on its system for both of the major Appalachian pipelines. Columbia Gas Transmission dropped from 612,900 MMBtu Wednesday to 566,200 MMBtu Thursday, ICE said, while the Dominion-South Point volume fell from 358,200 MMBtu to 290,800 MMBtu.

A Rockies producer said there was a “basis blowout” going on in his regional market, noting that CIG prices were about a dollar lower than Henry Hub after having been at near parity a few months earlier. It’s a far cry from the basis strength in the Rockies that resulted after the Rockies Express pipeline began operations, he said.

The producer partially blames what he called “hydro havoc.” The Pacific Northwest hydropower situation has gotten a lot stronger since early spring signs of weakness, he said. A lot of rain there in recent weeks has boosted the hydro situation, he said, but that could change quickly after snowmelt is completed and summer heat sets in. Meanwhile, he saw a like chance of a weekend meltdown Friday in Rockies pricing.

A marketer in the Upper Midwest said her area could expect warmer temperatures Friday, but they would probably drop back to the low 80s for weekend due to a forecast of showers Friday night. She could see hot weather in much of the U.S. as the only logical explanation for higher gas prices but commented, “It’s summer; big deal.”

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