Everywhere

Air conditioners are humming virtually everywhere, and that translated into continuing bullishness for almost the entire cash gas market Wednesday. Except for a small decline at Malin and flat to barely higher numbers at a few Northeast citygates, other points saw gains that tended to range from a nickel to a little more than 15 cents.

It was getting hot just about everywhere Tuesday except in the Upper Plains. The rising air conditioning load had a moderate price-boosting effect in eastern markets, but virtually none at all in the West.

Cash prices rebounded virtually everywhere Monday except in California as traders returned from the long Good Friday/Easter weekend. Most gains were between about a dime and 15 cents, with the Rockies seeing mostly smaller ones that ranged from flat to up about a nickel, and points in the Northeast and Appalachia registering larger advances of about 20 cents or more.

Prices soared everywhere Friday except in Northern California asmore bullish weather forecasts and current conditions, along with asecond straight day of rising futures, propped up what had been arecently sagging cash market. Nearly all gains were within therange of 50-90 cents.

The phrase “if you build it, they will come” sounds too ancientto describe the nascent e-commerce scene. Perhaps it’s moreappropriate to ask, “if everyone builds something, will they knowwhere to go?” The months ahead will see no dearth of online tradingoptions for energy and related properties, products and services asplayers scramble to create new sites or get on board existing ones.Among this week’s happenings:

Major natural gas producers are seeing red flags everywhere inthe wake of Petal Gas Storage L.L.C’s decision to scrap itsoriginal proposal to build three new pipeline interconnects to itsstorage facilities in Mississippi. They contend the proposal hasbeen amended to benefit Petal’s new-found affiliates at the expenseof non-affiliated customers.

Despite spring-like weather here, there and almost everywhere,this week’s price erosion came to a halt Thursday as many pointsturned in flat performances and a few managed small rallies.

Between a plunging screen and mild-to-cool weather almosteverywhere outside the southern U.S., it hardly came as a shock totraders that Tuesday’s swing deals done for today only would failto measure up to September index levels. However, some consideredthe ability of crude oil futures to stay above $22/bbl and eventack on an extra dime a mitigating factor in keeping the initialaftermarket softness fairly mild.

The screen was hot and the weather was hotter almost everywhereexcept on the West Coast. Put them together and you get Mondaytrading dominated by double-digit price increases at all pointsexcept the Rockies and Canadian markets.