Overall

Cash natural gas prices on average overall rose 29 cents Wednesday as cold, wintry weather was forecast to march through the Great Lakes and keep temperatures seasonally cold. However, without the distorting affects of multi-dollar price surges at Northeast locations, the market scored a more modest 8 cent gain. Great Lakes points firmed as cold and winter storm warnings were anticipated Wednesday. At the close March futures had risen 1.9 cents to $3.418 and April had gained 1.4 cents to $3.464. March crude oil slipped 2 cents to $96.62/bbl.

Natural gas pricing Tuesday was widely varied with the overall market showing an average loss of a dime. Once the high-flying New England pipelines such as Algonquin, Tennessee and Iroquois are factored out, however, the market actually showed a gain of 13 cents.

Physical gas markets were led lower again by the super-sized declines posted at eastern and northeast locations. Overall, the market averaged a 33-cent decline, but if the multi-dollar losses on New England and eastern pipes are factored out, the average loss was just a nickel.

Cash price moves in the Northeast and East Thursday once again separated from the rest of the market, with the overall average market gain a stout 33 cents, but the remainder of market points showed a rise of just over a nickel. Many eastern points posted multi-dollar gains, recording yet more price records (see Daily GPI, Jan. 24), but higher prices were posted at nearly all locations, with just a handful of points losing a few pennies or less.

Next-day prices at East and Northeast points screamed higher Tuesday, some by as much as $13, as temperatures dipped well below freezing. Overall, the market averaged a 97-cent gain. If the weather-driven gains in New England and Mid-Atlantic points are factored out, however, cash prices rose by just 6 cents.

Cash prices on average gained 33 cents overall Friday, but if the volatile East and Northeast are factored out, the average rose 16 cents. Gains were widespread, and Midwest points showed weather-driven strength. At the close February had risen 7.2 cents to $3.566 and March was higher by 7.0 cents to $3.565. February crude oil added 7 cents to $95.56/bbl.

Physical gas prices continued to advance Wednesday, posting an average gain of 12 cents overall. Multi-dollar gains permeated eastern delivery points, and Midwest locations also were firm. At the close of trading February futures had slipped 2.0 cents to $3.435 and March was down 1.6 cents to $3.437. February crude oil added 96 cents to $94.24/bbl.

Physical gas prices slipped 3 cents overall on average with some strength working its way into the market, but not enough to counteract Northeast weakness.

Cash prices fell about 8 cents overall on average Wednesday in large part mirroring declines on the screen. No points were higher for Thursday delivery. Although temperatures in major metropolitan markets are expected to fall, they still remain above average. At the close of trading February futures had fallen 10.5 cents to $3.113 and March was down 10.3 cents to $3.131. February crude oil eased 5 cents to $93.10/bbl.