Warm

News of a tropical wave approaching the Caribbean Sea, generally warm to hot weather in most of the nation, the end of weekend OFOs on several pipes and the usual rebound in load following a long weekend were cited by sources in explaining Monday’s double-digit gains at nearly all points.

Most of the cash market was softer as expected Thursday, but forecasts of warm to hot weather in much of the U.S. outside the West Coast over the Fourth of July weekend and late run-ups following release of the storage report allowed a few scattered points to record flat to mildly higher numbers. The losses tended to range from just under a nickel to about 35 cents, with a majority at 15 cents or less.

Fueled by the first real blast of warm air of the cooling season, natural gas futures prices rallied and retreated Monday as traders alleviated oversold conditions and then turned and took profits. Local traders were active in the price movement, adding liquidity and volatility to the gas pit at Nymex.

Citing forecasts of continued warm weather in Florida and heavy use of its capacity, Florida Gas Transmission issued an Overage Alert Day notice Tuesday for its market area. The notice carries a 20% tolerance for negative daily imbalances.

Noting forecasts of continued warm weather in Florida and that its capacity is being heavily utilized, Florida Gas Transmission issued an Overage Alert Day notice Tuesday for its market area. The tolerance for negative daily imbalances was 10%.

The little El Nino that has been warming equatorial Pacific waters off the coast of Peru apparently grew during the month of October, according to the National Oceanic and Atmospheric Administration (NOAA), which now expects much warmer sea surface temperatures this winter to lead to warmer than normal temperatures in the northern United States.

The little El Nino that has been warming equatorial Pacific waters off the coast of Peru apparently grew up during the month of October, according to the National Oceanic and Atmospheric Administration (NOAA), which now expects much warmer sea surface temperatures this winter to lead to warmer than normal temperatures in the northern United States.

Following last year’s record warm winter and lower energy prices, Yankee Gas warned that consumers can expect to pay higher energy prices “across the board” this heating season. The U.S. Department of Energy (DOE) said demand for gas is expected to increase 12% compared to last year, assuming normal weather.

“If economic activity does not rebound and we have a warm winter, perhaps a price spike can be averted one more year, thanks to the storage overhang,” Peoples Energy Chairman Thomas Patrick predicted, but the overall trend is toward greater demand and declining supply.