Leads

Researchers and scientists at the National Oceanic and Atmospheric Administration (NOAA) are monitoring the formation of a possible weak El Nino and predict that the United States could experience very weak-to-marginal impacts late winter to early spring 2002, which typically means a colder, wetter winter. However, recent indications show a more neutral El Nino pattern developing, NOAA said. As a result, forecasters, such as EarthSat, now are predicting normal to slightly below normal temperatures this winter.

Researchers and scientists at the National Oceanic and Atmospheric Administration (NOAA) are monitoring the formation of a possible weak El Nino and predict that the United States could experience very weak-to-marginal impacts late winter to early spring 2002, which typically means a colder, wetter winter. However, recent indications show a more neutral El Nino pattern developing, NOAA said. As a result, forecasters, such as EarthSat, now are predicting normal to slightly below normal temperatures this winter.

Despite having considerably lighter air conditioning load than last week, the cash market ranged from flat to about a dime higher at nearly all points Monday. Most increases were fairly small, but Malin achieved one in the mid teens, while the day’s champion gainer of about 60 cents due a maintenance-related constraint was Cheyenne Hub. CIG recorded the only significant loss of more than a dime.

The American Public Gas Associaton (APGA) says the recent falloff in natural gas prices leads it to believe that more than the traditional supply-and-demand forces were at work last winter in driving up prices.

The American Public Gas Associaton (APGA) says the recent falloff in natural gas prices leads it to believe that more than the traditional supply-and-demand forces were at work last winter in driving up prices.

Limiting the price rebound to just one day, natural gas futures sifted lower ahead of the weekend Friday as trade selling overcame an optimistic opening print. The June contract was the hardest hit, slipping 7 cents on the day and 21.5 cents for the week to close at $4.278.

Monday’s cold weather-induced price rally proved to be short-lived, and few if any traders expect it to be revived anytime soon. Most eastern points fell between a nickel and 15 cents Tuesday, while declines tended to be larger in the Rockies/San Juan and California markets. Due to its frigid New England service area, Algonquin quotes essentially were flat.

“We could call it ‘the blizzard that wasn’t,'” jested a marketerin reference to the Nor’easter that had been billed as the firstbig winter storm of the year in the Northeast but turned out to berelatively benign after all. It and other market factors werelosing their price-boosting punch Tuesday, with the result thatnearly all points ranged from flat to about 20 cents lower. Thestandout exception to the general market was a Southern Californiaborder plunge of more than $5.

A small decline at the MichCon and Consumers Power, and a largerone at the Southern California border were the only exceptions tothe raging bull market that continued to prevail in cash tradingThursday. Otherwise, average price increases ranged from about 50cents in parts of Louisiana to more than $4 at the Chicagocitygate.