Prices returned to a fairly strong upward track in most marketsThursday except for the Rockies and California, where an extendedhigh-inventory OFO by PG&E put a damper on things.

Most producing area points in the Southwest and east of theRockies rose between a nickel and a dime. The Midwest/Midcontinentapparently was already discounting a cold front that had movedthrough because increases there tended to be near the bottom ofthat range. However, Gulf Coast averages were near the top end ofthe range, and Northeast citygates soared by about 20 cents or moreas the front began bringing freezing temperatures and snow to partsof the Northeast.

Wednesday’s late run-up in gas futures probably had someinfluence on Thursday’s rising cash market, sources said, buttraders were indifferent to a Thursday screen that spiked duringthe morning but eventually settled at a small loss. Moderateupticks in crude oil and heating oil futures had minimal impact oncash gas, they said.

Loads were picking up across the Midcontinent as temperaturesdropped into the 20s in the morning, one trader said. However, itlooks like only a brief shot of cold as warmer weather is expectedby next week, he added.

Sumas prices into Northwest maintained about a nickel premiumover the domestic product. Maintenance is restricting about 130MMcf/d behind Westcoast’s Fort Nelson Plant through early nextweek, a marketer said, and the pipeline kept its daily imbalancetolerance at +20%/0 in a continuing effort to increase linepack.

Activity remained perceptibly subdued as Houston Energy Expocame to an end. “I think most people are still hung over” from thetrade fair, an aggregator said. The action should pick upconsiderably today as most traders return to the office.

Except possibly for a still-frigid Midwest and Northeast, it’snot likely that prices will avoid the usual weekend drop due tolowered demand for a third Friday in a row, according to amarketer. Another trader tended to affirm at least some weekendsoftness, reporting morning intra-Alberta deals in the low C$3.60sbut then picking up an afternoon package in the high C$3.50s. Hedid an April baseload trade at C$3.67.

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