Tendency

Physical gas prices rose about 4 cents overall Monday due to a combination of short-term outages, imbalances and a tendency to postpone purchases until Monday. Eastern points rose in nonuniform fashion, and California locations posted gains as operational issues surfaced at major entry points in the southern portions of the state. At the close of futures trading June had fallen 7.8 cents to $2.431 and July had shed 8.4 cents to $2.505. June crude oil dropped $1.35 to $94.78/bbl.

October natural gas rose Wednesday as traders noted a strong seasonal tendency for natural gas prices to rise in the August-November period and expected the government to release inventory figures Thursday showing increases in inventory about in line with seasonal norms. At the close October had risen 14.5 cents to $4.054 and November had added 14.9 cents to $4.173. October crude oil fell 9 cents to $88.81/bbl.

Price movement was minuscule either up or down from unchanged Wednesday, but the market continued to show a tendency for modest softness as moderating weather signaled the approaching end of an especially severe winter.

Price movement was minuscule either up or down from unchanged Wednesday, but the market continued to show a tendency for modest softness as moderating weather signaled the approaching end of an especially severe winter.

Rockies points abandoned their contrarian softness tendency from the day before and joined the overall market in across-the-board price gains Tuesday in response to wintry weather engulfing most of the U.S. and Canada. Once again the icy Northeast led the upward charge with varied gains ranging from about a quarter (Texas Eastern M-3) to more than a dollar (Tennessee Zone 6). Otherwise, increases ran from a nickel to a little more than a quarter.