The upward track of cash prices continued Wednesday, but at asnail’s pace compared to Tuesday’s skyrocketing pyrotechnics. Mostof the new increases were quite meager, ranging from a penny or soto about a nickel. The first significant winter weather that manyareas have seen so far this season was credited with keeping theNovember price rally going, albeit modestly.

CNG stood out from the pack as it played major catch-up withneighboring Appalachian pipe Columbia (TCO). While TCO gained amere nickel to the $2.47 area, CNG quotes soared by just over adime to around $2.40. The Tuesday gap of 14 cents between the twolines narrowed to a little over a nickel.

Though not every source experienced it, several traders agreedthat a late run-up of Tennessee’s 500 Leg into the low $2.20s hadTennessee trading at a premium to Henry Hub. Tennessee is reallyshort while the Hub is long, and demand is rising quickly inTennessee’s Northeast market area, said a marketer explaining theunusual basis relationship.

Mitch-the hurricane that refuses to die-weakened into a tropicaldepression while crossing the northern end of Mexico’s YucutanPeninsula Tuesday night but became a tropical storm again overwater Wednesday. However, its east-northeast course toward Floridaappeared likely to keep it well south of the eastern Gulf of Mexicoproduction area.

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