North American natural gas markets stand warned that western Canadian supplies either have or soon will reach a turning point where they peak then start to run down, and the nation’s top transporter is crafting import projects.
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The Big Chill Puts Prices Back on Upward Track
Some Gulf Coast quotes were topping the $3 level Thursday ascash prices resumed climbing after Wednesday’s leveling-off period.Increases ranged from about a nickel in California to more than 15cents at New England citygates and on CNG in Appalachia. A risingfutures screen provided moderate support for cash, but thespreading of colder weather was the chief cause of the price gains,sources said. However, numbers were retreating in several marketsin late deals. A Gulf Coast producer was able to get only $2.90 ina very late Henry Hub trade after the point had been trading in thehigh $2.90s for most of the morning.
October 22, 1999
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