Trends

Moderate warming trends in parts of the Midwest and Northeast, along with Friday’s 13.3-cent uptick by July futures and the return of industrial load from its typical weekend decline, propelled the cash market to gains at a large majority of points Monday.

Thursday’s July futures dive of 34.9 cents and forecasts for a weekend reversal of modest warming trends that had been occurring in the Midwest and Northeast resulted in double-digit drops at most points in trading for the first weekend of summer Friday. The decline of industrial load that accompanies a weekend market also played a part.

Prices rose at every point but one Monday despite cooling trends in some areas and the previous Friday’s 17.3-cent drop by July futures. There were still some high heat levels, especially in the southern half of the West and parts of the South, and industrial load had returned from its typical weekend decline.

Moderating weather trends appeared to trump Monday’s 31.7-cent spike by expiring May futures as the primary influence on cash trading for the end of April Tuesday. The result was mixed price movement in the East in which most points moved up or down by a dime or less. However, mild temperatures in the Rockies and cool conditions in California caused major losses in the Rockies market and mostly lower prices in the rest of the West.

Triple-digit plunges by Northeast citygates led a second straight day of prices falling across the board Friday. The South was an exception, but warming trends were due to continue into the weekend in many other areas. The previous-day decline of 7.4 cents by March futures and the typical weekend loss of industrial demand were other bearish factors.

The trends that have driven the recent rise in natural gas prices could reverse course going into spring, energy analysts with Raymond James & Associates Inc. said last week.

The trends that have driven the recent rise in natural gas prices could reverse course going into spring, according to energy analysts with Raymond James & Associates Inc.

With falling temperature trends in key northern market areas being just a preview of colder weather to come, quotes rose at most points Tuesday. The roller-coaster ride in the Rockies continued as the regional market made its third gigantic reversal of price direction in as many trading days, seeing triple-digit increases at all points except Cheyenne Hub.

Mixed price movement was back in vogue Wednesday in trading for first-of-November flows. Market-area weather trends tended to dictate where gains or losses occurred in some cases, but there were also some anomalies. The cash market continued to have a little prior-day screen support from Tuesday’s 4.7-cent advance by December futures.