It was something of a hodgepodge cash market Monday, with most western points rebounding strongly from weekend weakness while markets in the East generally revolved around flat but also ranged from about a dime lower to nearly 15 cents higher at various points. Consistency was an elusive characteristic outside the West.

The Southern California border was the obvious market leader with a gain of nearly 45 cents, more than wiping out its 30-cent loss on Friday. SoCalGas almost extended Saturday’s high-linepack OFO through Sunday, but decided not to. The relief of pressure against border deliveries helped allow firming numbers throughout most of the West. The exception was intra-Alberta numbers, which fell about C20 cents.

The weather outlook for the next couple of days at least is somewhat bearish, as temperature extremes remain in short supply other than hot weather in the desert Southwest. Even Calgary had shaken off the late-spring snows of last week to enjoy afternoon temperatures around 70 degrees F. Monday afternoon, a trader there said.

The screen provided little new guidance for physical gas, climbing out of a dime or so hole in the morning to register a daily advance of 2.3 cents. Crude oil futures also achieved an increase based largely on new record prices in the unleaded gasoline contract, but crude failed to surpass last week’s high.

A couple of sources said prices were coming off modestly in late deals. Based on what he was seeing on an online trading platform, a Gulf Coast marketer said it appeared that Henry Hub would be down about 3 cents for Wednesday flows.

“That’s about it: flat” for the Gulf Coast overall, the marketer continued, although points here and there were up or down nearly a nickel. He said he had to search for some intraday gas in the afternoon to satisfy incremental demand from a Gulf Coast power generator.

Northeast deliveries tended to range from 45 to 60 cents over production-area levels depending on the citygate point, said a marketer in the region. Niagara saw a small loss, while other points ranged from barely higher to up a little more than a dime as The Weather Channel predicted rising area temperatures Tuesday in advance of an approaching cold front that would take thermometer levels lower again Wednesday.

There were no real new developments, the marketer added, other than Northeast basis getting a bit stronger. Area weather will stay fairly mild through the week, he said, “so benign is my word for the [short-term] market.

A Calgary-based producer said he is avoiding selling his British Columbia volumes at Sumas for now. Aeco and Westcoast Station 2 prices are so strong that there’s no value in taking BC gas into Westcoast’s T-South system, he said. Instead, the current choice is to sell into Alliance for delivery to Chicago, he said.

©Copyright 2004 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc.