Physical

The overall physical natural gas market Tuesday on average gained 12 cents, but if super-sized gains scored at Northeast points are removed from the tally, the overall gain was a more modest 7 cents. Gains, nonetheless, were widespread and only a couple of locations didn’t make it to the positive side of the trading ledger. At the close of futures trading, March had fallen 4.9 cents to $3.230 and April was off 5.0 cents to $3.296. March crude oil added 48 cents to $97.51/bbl.

Physical natural gas prices on average plunged 77 cents Monday, but free-falling prices on Northeast pipelines such as Algonquin, Iroquois and portions of Tennessee and Transco skewed the results. If those points are taken out of the mix, the decline was 10 cents. At the close of futures trading March had fallen 0.7 cent to $3.279 and April was down 0.9 cent to $3.346. March crude oil added $1.31 to $97.03/bbl.

Physical natural gas prices Friday rose an average 79 cents to $4.92, but if the highly volatile and constrained New England points are removed from the figures, the average was a loss of 2 cents to $3.58.

Physical gas prices Wednesday gained on average by 11 cents overall, but if the volatile East is included, the rise was just under 18 cents. Gains were widespread with only a handful of points recording losses.

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.

Taking into account most of the country, physical natural gas market prices on average fell 18 cents in Monday’s trading, but if volatile northeast and eastern points are included, the tumble swells to 59 cents.

Physical natural gas prices continued their volatile ways Wednesday with eastern points continuing higher prompted by pipeline outages and below normal temperatures, while locations west of the Eastern Seaboard were declining. Overall, the national average gain was 95 cents, but taking out volatile eastern points revealed an overall average loss of 8 cents. At the close of trading February futures were 0.4 cent lower at $3.554 and March was down 0.5 cent at $3.553. March crude oil slipped $1.45 to $95.23/bbl.

Physical natural gas prices averaged about a penny lower for weekend and Monday deliveries, with dollar-plus losses at eastern and Northeast pipes offsetting widespread gains at Gulf, Midcontinent and California points.

Physical natural gas prices continued their broad retrenchment Thursday with New England and Mid-Atlantic locations continuing their dollar-plus declines. Pipeline delivery points servicing New York and Boston were particularly hard hit, and on average the market fell about a quarter. Take away the Northeast and the overall average drops to a 12-cent decline. February futures fell 3.5 cents to $3.198, and March shed 4.1 cents to $3.214. February crude oil lost 20 cents to $92.92/bbl.