Fluctuating

The overall cash market averaged close to 8 cents higher Friday, but if the widely fluctuating gains and losses of eastern points are subtracted, the market fell close to a nickel for weekend and Monday deliveries.

February natural gas futures declined by a few more pennies on Monday as traders — after a week of fluctuating forecasts — were still attempting to get a better handle on what the weather picture will be like in the coming weeks. The prompt-month contract traded between $4.322 and $4.450 before closing the regular session at $4.399, down 2.3 cents from last week.

There’s no doubt about it, times are tough in the midstream gasbusiness. Depressed NGL prices and unfavorable margins have kept atleast one player from selling its assets while the same factorscaused another to seriously rethink the wisdom of a recentpurchase. Executives and analysts predict a lot more horse tradingof properties as companies look to rationalize assets and buildpositions for better times (hopefully) ahead.