Paced

Cash quotes overall on average were 7 cents higher Thursday, paced by double-digit, weather-driven gains at Northeast points. Eastern, Midcontinent and Rockies prices all gained as well.

The Senate Energy and Natural Resources Committee whipped through a fast-paced hearing last Tuesday on the nomination of New Mexico’s Suedeen Kelly for commissioner of the Federal Energy Regulatory Commission, with both the chairman and ranking minority member vowing to rush through Kelly’s confirmation, along with that of Joseph T. Kelliher, whose nomination has been stalled in the Senate.

Paced by triple-digit advances at Midwest and Northeast citygates and on Dominion in Appalachia and several Midcontinent pipes, nearly the entire cash market put in a strong weekend price performance in Friday’s super-volatile trading. Flat San Juan Basin numbers missed out on the price party, and other western points tended to see most of the smaller gains of less than 30 cents.

It was off to the races Tuesday for spot prices, as a soaring screen paced the cash market to large gains. Except for the Rockies and Southern California border, nearly all other points managed to surpass the November futures advance of a little more than 21 cents. The run-ups were attributed largely to a noted meteorologist’s forecast that the coming winter will rank among the top third of the coldest over the last 106 years (see related story).