Weekend cash prices hit a plateau Friday in theMidcontinent/Midwest, Gulf Coast and Appalachia, but softened inthe Northeast and at most western points.
At the end of a week that began with a post-winter storm pushingprices higher in the Northeast, a warming trend was starting togain momentum. That caused most regional citygates to drop betweena nickel and a dime. Warmer temperatures will persist through thiscoming week, one trader said, so expect the softness to continue.
A cold front was moving into the sparsely populated Upper PlainsFriday, but forecasters said its progress towards the south andeast was likely to be very slow or non-existent.
It was hard to find a home for gas in California after PG&Eissued a customer-specific OFO for Saturday (see TransportationNotes), sources said. “There must have been quite a few customersthat got hit with the OFO because the PG&E citygate got beat uppretty bad,” a marketer remarked. Any western gas that could manageit was heading east toward more lucrative pricing, he added.
Slightly higher intra-Alberta numbers also defied the overallwestern softness. Snow in the province ceased for a while Fridaybut was starting up again that afternoon, Calgary traders said.There was quite a bit of disconnect between intraday and weekendprices, one said, reporting intraday numbers about a nickel abovehis weekend deals.
©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.
© 2023 Natural Gas Intelligence. All rights reserved.
ISSN © 1532-1231 | ISSN © 2577-9877 |