Cash

Cash prices were about 12 cents lower on average Tuesday as next-day power prices across the East slumped and the weather outlook called for temperatures to rise to seasonal norms.

Cash natural gas prices on average rose close to 4 cents Monday. Gulf of Mexico prices were strong as were prices in California, but East and Northeast quotes were mixed. Futures prices lumbered lower as options on April futures expired ahead of Tuesday’s April futures termination. At the close, April had fallen 6.2 cents to $3.865 and May had skidded 6.4 cents to $3.888. May crude oil added $1.10 to $94.81/bbl.

Cash gas prices overall for weekend and Monday delivery dropped an average of 6 cents, but if the distorting effects of Northeast pipelines are factored out, the national average comes in nearly unchanged. Eastern points followed soft power prices, but Rockies prices added about a nickel. The April contract shed 0.8 cent to $3.927 and May eased 0.9 cent to $3.952. May crude oil rose $1.26 to $93.71/bbl.

Cash prices overall averaged a 7-cent gain in Wednesday’s trading as punishing cold refused to release its grip on Midwest and eastern energy markets. If oversized gains in New England are omitted, however, the increase falls to just above 3 cents.

Cash market prices gained an average 16 cents Monday as weather forecasts turned sharply colder at Midwest points. Gains were widespread with only one location in the loss column, and trading points around the Great Lakes sported rises of 30 cents or more. April was able to trade within 3 cents of the $4 mark and made a new 17 month high for a spot contract. It settled up 1.0 cents at $3.882. May advanced 0.5 cent to $3.914. April crude oil added 29 cents to $93.74/bbl.

The cash natural gas market bounded higher Friday by 12 cents, encouraged by Thursday’s and Friday’s strength in futures as well as weather forecasts calling for continued cool temperatures. However, the average rises to 15 cents once slip-sliding quotes on Algonquin and portions of Tennessee are factored out.

Cash natural gas prices held steady on average Thursday with most traders electing to get deals done ahead of the morning inventory report from the Energy Information Administration (EIA).

The cash market Wednesday staged a broad rally of 15 cents with only a half-dozen points falling into the loss column as Old Man Winter refused to let go even with the first day of spring only a week away.

Physical natural gas cash points rose virtually across the board in Tuesday’s trading for Wednesday delivery. The overall rise was a dime on average, but if super-size gains on pipes such as Algonquin, Iroquois and portions of Tennessee in the Northeast are excluded, the average national gain still came in at 8 cents.