Although there were a few more flat to moderately higher quotes than on Friday, a holiday-shortened trading week opened Monday much as the previous one had ended Friday: with losses at a large majority of locations. However, in a slightly bullish sign several of the gains had gotten significantly larger, and most of the losses had shrunk to single digits instead of the double-digit drops that were so prevalent Friday.

Several scattered points, mostly in the Northeast, were flat to about 15 cents. Most of the market was down 2-3 cents to nearly 35 cents.

Tuesday’s cash market can count on modest prior-day screen support after November futures rose 8.3 cents (see related story).

A low-pressure area that showed up Friday in the central Atlantic had strengthened as it moved to the north over the weekend to about 875 miles east-southeast of Bermuda, which had the National Hurricane Center rating its chance of developing into a tropical cyclone within 48 hours at 60% Monday. Its projected north-northeastward tracking might have the system graze the edge of Canada’s Maritimes Province, but no direct land passage was likely.

Sumas, which had commanded a substantial pricing lead going into the weekend, slipped into third place Monday behind the averages of Algonquin citygates and into-Algonquin numbers.

CIG was running more than a nickel higher in its basis spread from Henry Hub.

A good example of the general lack of heating load in the Midwest is The Weather Channel’s prediction that with temperatures from near average to 17 degrees above average, highs Tuesday will range from the 30s and low 40s across the Dakotas and Upper Midwest to the 60s and low 70s in the Ohio Valley.

It was quite reasonable to expect light heating load in the South, where most highs Tuesday are expected to be around 80 or slightly lower.

Despite a systemwide Imbalance Warning announced late Monday afternoon by Tennessee, and Spectra’s pipes serving the Northeast — Texas Eastern, Algonquin, East Tennessee and Maritimes & Northeast — also encouraging customers to run positive imbalances, regional quotes tended to see most of Monday’s price increases even with merely chilly lows in the forecast.

Despite Columbia Gas (TCO) pricing falling about a dime, IntercontinentalExchange found TCO volumes traded on its platform increasing from 563,500 MMBtu Friday to 638,300 MMBtu Monday.

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