Receded

Somewhat improbably, since the high heat levels of last week have receded from most areas outside the desert Southwest, prices rose at most points Monday. The cash market did have support from the previous Friday’s 16.5-cent advance by August futures and from the return of industrial load from weekend hiatus.

Substantially cold weather has largely receded into Canada and the northern tier of American states, but the cash market found enough of it still around to stage moderate rebounds Monday at a majority of points. The screen’s 3.5-cent gain on the preceding Friday and the return of industrial load from its usual weekend hiatus provided small amounts of ancillary support.

While harsh winter weather had already receded in much of the West and was due to do so to varying extents in the South and Midwest, it was still making itself at home in the Northeast. The result was a continuation of Northeast citygate spikes Tuesday, while the rest of the market either recorded considerably more modest gains or saw declines setting in at quite a few points in the West and Midcontinent.

The liquids level at the Tivoli Plant onshore Texas from a Matagorda Offshore Pipeline System pigging operation had receded to the point that all scheduled nominations were being accepted for Tuesday’s Intraday 2 cycle, MOPS operator Northern Natural Gas said. The pipeline was forced to shut down Sunday due to excess liquids being received at Tivoli (see Daily GPI, Dec. 23). According to an NNG spokesman, “We were able to get rid of the liquids faster than expected, and there are no remaining constraints on MOPS.” Florida Gas Transmission resumed taking deliveries from MOPS at their interconnect in Matagorda County, TX effective with the Intraday 2 cycle for Tuesday’s gas day and for Wednesday’s evening cycle. Another MOPS pigging is scheduled for Dec. 26-31.