Dominated

Beginning another transition into the on-again, off-again periods of frigid conditions that have dominated February’s weather pattern, cash prices saw strong double-digit gains at all points Monday. The previous Friday’s 25.5-cent advance by March futures also was supportive, and the return of industrial load from weekend hiatus gave a little extra boost to the physical market.

With natural gas flow constraints out of the Rocky Mountains continuing to ease, the region once again dominated headlines on Monday as half of NGI’s points in the region recorded $1-plus gains. Despite near-record natural gas storage levels and the lack of any immediate storm threat to the Gulf of Mexico, cash prices across the board were firm to begin the week.

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Nearly unchanged pricing dominated the cash market Wednesday. Most points ranged from flat to a little more than a dime higher or about 15 cents lower as colder weather forecasts in several regions were largely offset by the May futures contract’s decline of 24.5 cents a day earlier. Declining quotes handily outnumbered gains.

With forecasts cropping up of weather more appropriate for January than the mild conditions that have dominated much of the East so far this winter, prices staged a double-digit rally at all points Monday.

Despite a weather map dominated by fairly moderate conditions for mid-December, cash gas was finding enough heating load in northern market areas to keep prices rising substantively at most points Wednesday.

Wednesday saw a repeat of Tuesday’s mixed pricing, and again moderate gains dominated the market. But outside the Midcontinent few points saw increases of a dime or more, and flatness was much more prevalent than before. Some heating load was developing in the Midwest, some cooling load remained in the desert Southwest and parts of inland California, and prices had a modicum of support from the screen’s nickel rise on Tuesday.

At a meeting where natural gas dominated the agency’s agenda, FERC last Thursday looked favorably upon industry’s request for permanent regulatory and policy changes to promote the construction of interstate natural gas pipeline mainline expansions, certain storage facilities and takeaway facilities for liquefied natural gas (LNG) import terminals.

At a meeting where natural gas dominated the agency’s agenda, FERC on Thursday looked favorably upon industry’s request for permanent regulatory and policy changes to spur the construction of interstate natural gas pipeline mainline expansions, new storage capacity and takeaway facilities for liquefied natural gas (LNG) import terminals.