Overall

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.

Cash gas prices overall on average gained 6 cents Monday, but if the monster gains on Iroquois and Tennessee in the Northeast are factored out, the gains come in at a mere penny. The Midwest, Great Lakes were strong, while eastern points were little changed. Strong eastern power prices helped lend a solid undertone to New York and New England gains.

Cash market trading yielded a decline of 2 cents overall Friday, but if the sizable losses on Tennessee and Algonquin are factored out, the physical market scored a 2-cent advance.

Physical gas prices Tuesday overall on average added about 6 cents with nearly all points experiencing gains. Midwest points were firm as an exiting storm still made itself felt in the form of 30 mph gusts and typically constrained points in the Northeast also made outsized gains. The expiring March futures contract exited on a modest note, and at the end of trading March had risen 1.3 cents to $3.427 and April had fallen 1.4 cents to $3.456. April crude oil lost 48 cents to $92.63/bbl.

Physical gas prices Friday were within a penny or two of unchanged at most points, and if you exclude Northeast price plunges, the overall market shed an average of a penny. However, if wide-ranging losses in the East and Northeast are factored in, the decline on the day expands to a dime.

Cash prices overall lurched higher Wednesday as weather forecasts continued to call for bone-chilling winds across major Midwest and eastern market centers. Without the multi-dollar gains posted at a handful of Northeast points, the average national gain was 8 cents, but with those gains factored in, the average rose to 21 cents.

Physical natural gas prices at most points across the country rose about a dime Tuesday, but if the highly volatile Northeast is added to the mix, the overall change is a loss of about 3 cents.

The physical gas market overall on average Thursday was unchanged, but once the wide-swinging Northeast pipes that include Algonquin, Iroquois and portions of Tennessee are factored in, the picture changes to a loss of 21 cents. Most cash trades were completed before the 10:30 a.m EST release of storage data by the Energy Information Administration (EIA), but the 157 Bcf withdrawal was less than the market was expecting, and futures slumped. At the close March had dropped 14.3 cents to $3.163 and April was off 14.0 cents to $3.231. March crude oil fell 30 cents to $97.31/bbl.

Apache Corp. topped its overall production record for the fourth consecutive year, the company’s management team said Thursday. Average daily production in 2012 increased to 779,000 boe/d, up 5.4% year/year. Despite the impact of substantially lower Canadian natural gas prices, revenues for the year hit a record $16.9 billion.