Arrayed

Mixed price movement was even more mixed than usual Tuesday as big and small losses were arrayed against big and small gains. Growing perception that the developing eastern cold snap won’t be quite as severe as earlier expected, combined with Monday’s 21.4-cent drop by December futures, resulted in softness across much of the East.

The June aftermarket was launched Friday with major uprisings in the West arrayed against a mixed but mostly moderately softer performance at eastern points. Because deals were being done for Tuesday-only flows due to the May-ending holiday weekend, the dropoff in industrial demand typically associated with a weekend was not a negative factor.

Triple-digit price dives on Dominion and in the Northeast Wednesday were arrayed against an overall mixed market in which few points strayed more than a nickel up or down from flat.

A few flat to modestly higher points were arrayed against a wave of further declines Wednesday. Northeast citygates led the way lower with drops that exceeded half a dollar in some cases, although elsewhere the softness was considerably milder with numbers down between 2-3 cents and about a quarter.

The cash market was very much a mixed bag Monday, with largerebounds in the West arrayed against small price movements up anddown (but more down than up) in the East. However, because thegreat majority of the screen’s dazzling display of strengthoccurred following the close of cash business, sources found reasonto expect a bullish market in physical gas today even without muchweather-related support.