Picked

Small single-digit advances dominated the market Monday as (1) industrial demand picked up again after the holiday weekend, (2) futures remained supportive of physical prices and (3) a cold front invading the Midwest from Canada late last week had spread southward to Texas and eastward into the Mid-Atlantic and Northeast.

Describing operations in picked-over natural gas fields at home as a case of “managing decline,” Canada’s seventh-ranked producer has set out to expand in international liquefied natural gas development in order to maintain and increase sales to the United States.

Describing operations in picked-over natural gas fields at home as a case of “managing decline,” Canada’s seventh-ranked producer has set out to expand in international liquefied natural gas development in order to maintain and increase sales to the United States.

Despite forecasts for moderating temperatures by midweek, natural gas futures traders picked up Monday where they left off last week as they lifted the market back above the $4.90 level.

Adding to Thursday’s modest gains, the natural gas futures market picked up some steam Friday as long-expected short-covering entered the Nymex pit. The local- and fund-led move higher Friday was anything but a straight line, however.

The Wyoming Natural Gas Pipeline Authority has called on FERC to expeditiously approve the proposed Cheyenne Plains Pipeline that would connect Rocky Mountain natural gas with eastern markets, “as well as any other pipelines seeking approval to build or enhance capacity out of Wyoming and the Rocky Mountain region.”

Tropical Storm Bill was leaving relatively little shut-in offshore production in its wake Monday afternoon as it moved over the Louisiana coast. Meanwhile, flatness at the Chicago citygate and Dawn were the only significant exceptions in an overall stronger launch of the July aftermarket. Otherwise, points ranged from up about a nickel to nearly 40 cents higher. A majority of the gains were in the range of 10-20 cents.

Continuing its January buying spree, Constellation Energy Group (CEG) on Wednesday picked up more Canadian customers with the purchase of the Alberta-based electricity division of Dynegy Canada Inc. The division will become part of Constellation NewEnergy, the company’s energy supplier. Financial terms were not disclosed.

Former Enron Corp. vice president Sherron Watkins, who warned then-Chairman Kenneth L. Lay in August 2001 that the energy trading company was about to “implode” in a wave of accounting irregularities, and two other whistle-blowers were named over the weekend as Time Magazine’s Persons of the Year. She will share the cover with WorldCom auditor Cynthia Cooper and FBI agent Coleen Rowley.