Parts

This week’s price run-ups got slower again Wednesday, essentially grinding to a halt in parts of the cash market. Weather fundamentals remained strong for the most part as high temperatures ranging from very warm to severely hot continue to dominate the U.S. climate except along the relatively cool West Coast. The natural gas futures screen continued to lend support to cash numbers with a gain of 15 cents-plus, accompanied by strong showings in crude oil, heating oil and New York Harbor unleaded gasoline. However, expectations of another bearish storage report Thursday reportedly tended to temper new buying for injection purposes.

A new natural gas marketing company, formed by five leading oil and natural gas income trusts in Canada, debuted this week and hopes to fill some of the void left by the fast exits of the big marketers in the United States and Canada.

The record rainfall in various parts of the nation this year apparently is playing havoc with some pipeline construction schedules. Southern Natural Gas Co., for one, has asked, and received, from FERC two extensions to complete construction and place into service phase one of its South System Expansion II project in the Southeast.

The record rainfall in various parts of the nation this year apparently is playing havoc with some pipeline construction schedules. Southern Natural Gas Co., for one, has asked, and received, from FERC two extensions to complete construction and place into service phase one of its South System Expansion II project in the Southeast.

After showing much strength going into the weekend, prices returned to major softening mode in most cases Monday. Dollar-plus declines reigned throughout the East and approached $6 at Chicago citygates despite a sizeable snowstorm being expected to hit the city Tuesday afternoon.

Bolstered by a return of winter-like weather in northern market areas and parts of the West, along with positive natural gas futures during morning trading, the cash market saw a surge in prices Monday. Although gains went as high as 20-25 cents or so in California and at some Northeast citygates, most were more modest on either side of a dime. San Juan and intra-Alberta numbers generally ranged from flat to less than a nickel higher.

Small to sizeable gains at Rockies, Pacific Northwest and Western Canada points Wednesday contrasted with continuing mild softness elsewhere. Scattered points were essentially flat, but most of the cash market recorded declines of 2-8 cents.

Small to sizeable gains at Rockies, Pacific Northwest and Western Canada points Wednesday contrasted with continuing mild softness elsewhere. Scattered points were essentially flat, but most of the cash market recorded declines of 2-8 cents.

The transmission and generation parts of vertically integrated rural electric cooperatives are enjoying strong credit ratings in the midst of the more turbulent private-sector electricity industry with its political and financial crunch. And proposed farm legislation in Congress eventually could strengthen the rural utilities’ financial positions as they enter somewhat of a generation building boom era, according to Standard & Poor’s latest analysis out of its energy finance team in New York.