Generally the cash market failed to find any support from eitherAGA’s big storage withdrawal report Wednesday afternoon or thescreen’s strong push upwards Thursday. With the exception ofupticks at a few scattered points, cash numbers ranged from flat todown nearly a dollar at Transco Zone 6 (NYC). Most of the declineswere between about a nickel and 30 cents.

The Northeast, which was still getting a bit of snow butanticipating a break in severe winter weather, was “a pretty weakmarket,” a marketer observed. There seems to be just enough gas tocover everybody’s needs, so buyers are not nearly as panicked asthey used to be, he said. However, the Zone 6 (NYC) spread aboveHenry Hub remained in excess of $2, the marketer noted.

Despite somewhat milder market-area weather trends, Tennesseetold shippers Thursday it is still seeing shortfalls at receiptpoints and overtakes at delivery points that jeopardize itsoperational integrity. OFOs may be issued to specific contracts ormeters “for all parties failing to comply with this notice,” thepipeline said.

Although his prices were down overall, a Midcontinent tradersaid they were trending moderately higher during the morning basedlargely on futures strength. “I think people expected more softnessin cash today than what actually occurred,” he added. Butconsidering the current weather outlook, the trader was unable tosee anything but prices falling further today.

The National Weather Service’s latest six- to 10-day forecastanticipates above normal temperatures for the eastern two-thirds ofthe U.S. next week, with normal readings due for the rest of thenation except for below normal temperatures in California and partof Arizona.

A western source explained his lack of fixed-price tradingactivity so far in 2001 with these comments: “We went into themonth flat in nearly all positions. There’s no sense in monkeyingaround with trading risks at these price levels.”

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