As expected, a serious warming trend due to start Friday following widespread frigid weather at midweek induced softer prices at most points Thursday. Northeast citygates, which had seen huge spikes on Wednesday, recorded equally spectacular plunges Thursday.

Flat to nearly 15 cents higher numbers at several points ensured that the market returned to mixed price movement after scoring gains at all points the day before.

Iroquois Zone 2 and Transco Zone 6-New York City plunged by a little more than $25.30 and nearly $24, respectively, to lead Thursday’s descent by healthy margins. After peaking at $52 Wednesday, Transco Zone 6-NYC again repeated with the top quote Thursday, but this time it was only $19.50.

Otherwise, losses ranged from 2-3 cents to nearly $9.70. Outside the Northeast, declines were limited to nearly half a dollar.

After Thursday temperatures that were often in the teens and 20s in the eastern halves of the U.S. and Canada, along with some single-digit and below-zero readings, many locations will be seeing their first above-freezing thermometer levels Friday since early in the week. After peaking around 23 degrees Thursday, New York City is expected to see a high of 35 Friday. Forecasts for locations in the South call for highs in the 50s and 60s.

A series of Pacific storms will be invading the West over the next few days. They will mostly involve rain but bring blizzard conditions to several of the region’s mountain ranges.

Citing drafting by shippers, Kern River reported low linepack systemwide Thursday.

In a Thursday advisory on the midweek cold wave, Weather 2000, noted that the Chicago metro area had fallen below zero degrees F that morning, and that sub-zero conditions had extended as far south as northern Missouri. Also, all 48 contiguous states registered sub-freezing temperatures Thursday morning, with the 32-degree mark extending as far south as Mexico and the Florida Everglades (where light snow was observed in Naples).

In comments on the upcoming mild spell, the New York City-based consulting firm said polar air is finite, “so when you have expended more cold air than you have this entire decade (as we have since early December), the atmosphere and Canadian stores need time to rebuild these air masses. This would take the form of a temporarily more relaxed or zonal pattern, as we’re going to see next week.”

Florida Gas Zone 3 recorded Thursday’s biggest gain after Florida Gas Transmission tightened the imbalance tolerance on an Overage Alert Day due to sub-freezing temperatures predicted in its market area for Thursday night (see Transportation Notes).

Cash quotes, which had a fair amount of prior-day screen support from Wednesday’s 36.7-cent advance by February futures, will have negative guidance after the February contract fell 17.6 cents Thursday after spending some time in positive territory.

It’s really been a roller-coaster ride in cash prices in the first two trading days of the new year, a Texas-based marketer observed. That has presented some challenges in keeping everything flowing properly and anticipating where cuts might be made, he said, although so far his company has had no problem working around restrictions. On the other hand, price volatility presents opportunities for making money, he added.

There were still quite a few OFO-like transportation constraints hanging around Thursday, and Tennessee added a Balancing Alert OFO (see Transportation Notes). But the marketer said he wouldn’t be surprised to see most of them, or maybe all, get lifted Friday as warming trends become firmly established.

It’s pretty certain that prices will be going lower Friday, he continued, citing the continuation of warm-ups through the weekend, Thursday’s screen weakness and the loss of industrial load that accompanies a weekend period.

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