NGI Archives | NGI All News Access
Prices Flat as Traders Await New Influences
The cash market arrested the slide that had been developingTuesday by coming to a near-standstill in price movement Wednesday.Only a few points ranged any further than a penny or so to eitherside of flat.
Other than a moderate screen rebound, there was essentiallynothing to push cash numbers in any direction, one source said. Anycold weather isn’t expected to last much longer, he said, andalthough people may still find storage plays here and there, theydon’t seem to be as concerned with refilling storage this summer asthey were earlier in the year.
“It looks like we’re pretty close to getting storage injectionseason going for real,” commented a marketer about AGA’s report ofonly 5 Bcf in withdrawals last week. “As a cash trader, I wouldconsider such a figure bearish, but apparently the Access tradersat Nymex are calling it bullish.”
Today’s return of about 600 MMcf/d of capacity on Transwestern’sSan Juan Lateral (it will ramp back up to the full 800 MMcf/dFriday) had little impact on flat basin numbers, a western tradersaid. Since the pipeline’s Topock Lateral will remain down throughApril 10, most of that returned capacity was being used to take gasto Waha, he said. The trader thought PG&E citygates softened bya couple of cents in response to the utility’s projectingabove-target linepack today through Saturday.
Sumas continued to command a 2-cent premium over domestic gasinto Northwest. Production tie-ins at Westcoast’s Pine River Plantare affecting about 70 MMcf/d, a gas buyer said, but thatconstraint will end after today.
©Copyright 2000 Intelligence Press Inc. All rights reserved. Thepreceding news report may not be republished or redistributed, inwhole or in part, in any form, without prior written consent ofIntelligence Press, Inc.
© 2024 Natural Gas Intelligence. All rights reserved.
ISSN © 1532-1231 | ISSN © 2577-9877 |