CALGARY, Alberta, Nov 30 (Reuters) - Canadian spot natural gas prices fell on Tuesday on ample supplies in Alberta and fairly mild weather forecasts in the East.
Spot gas at the AECO storage hub in southeastern Alberta fell 16 Canadian cents to average C$3.63 a gigajoule. Deals were done between C$3.58 and C$3.73 a GJ.
Although temperatures in most big markets have cooled, boosting heating demand, near record amounts of stored gas have kept prices in check.
Temperatures in southern Alberta will be at, or a few degrees above, the seasonal average low of -12 Celsius (10 Fahrenheit) for the next five days, then are set to climb on Monday, according to Environment Canada.
Toronto low temperatures are expected to be above the -3 C (27 F) average through the weekend, the agency said.
Temperatures in the U.S. Midwest and Northeast, major gas consuming regions, are seen mostly below normal for the next six days, with lows near -7 C (20 F) in Chicago and around the freezing point in New York, DTN Meteorlogix said.
The New York Mercantile Exchange January natural gas contract slipped 3 cents to settle at $4.18 per million British thermal units as concerns over high supplies outweighed firmer U.S. cash prices and the colder forecasts.
Supplies on Alberta's main pipeline system ran at 15.64 bcf, 21 million cubic feet above the target linepack set by operator TransCanada Corp.
Producers delivered 9.02 bcf to the system and a net 575 mmcf of gas was withdrawn from Alberta storage facilities.
In exports, spot gas prices at Niagara, Ontario, averaged $4.60 per mmBtu, down 25 cents.
Gas at Huntingdon-Sumas on the British Columbia-Washington border sank 36 cents to average $4.33 per mmBtu.
($1=$1.03 Canadian)
AECO forwards: 11/30/10 11/29/10
December C$3.57-3.62 C$3.65-3.70
January C$3.59-3.64 n/a
Nov.'11-Oct.'12 C$4.26-4.31 C$4.26-4.31
(Reporting by Jeffrey Jones; editing by Peter Galloway) Keywords: MARKETS NATGAS CANADA (jeff.jones@thomsonreuters.com; +1 403 531 1624; Reuters Messaging: jeff.jones.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Spot gas at the AECO storage hub in southeastern Alberta fell 16 Canadian cents to average C$3.63 a gigajoule. Deals were done between C$3.58 and C$3.73 a GJ.
Although temperatures in most big markets have cooled, boosting heating demand, near record amounts of stored gas have kept prices in check.
Temperatures in southern Alberta will be at, or a few degrees above, the seasonal average low of -12 Celsius (10 Fahrenheit) for the next five days, then are set to climb on Monday, according to Environment Canada.
Toronto low temperatures are expected to be above the -3 C (27 F) average through the weekend, the agency said.
Temperatures in the U.S. Midwest and Northeast, major gas consuming regions, are seen mostly below normal for the next six days, with lows near -7 C (20 F) in Chicago and around the freezing point in New York, DTN Meteorlogix said.
The New York Mercantile Exchange January natural gas contract slipped 3 cents to settle at $4.18 per million British thermal units as concerns over high supplies outweighed firmer U.S. cash prices and the colder forecasts.
Supplies on Alberta's main pipeline system ran at 15.64 bcf, 21 million cubic feet above the target linepack set by operator TransCanada Corp.
Producers delivered 9.02 bcf to the system and a net 575 mmcf of gas was withdrawn from Alberta storage facilities.
In exports, spot gas prices at Niagara, Ontario, averaged $4.60 per mmBtu, down 25 cents.
Gas at Huntingdon-Sumas on the British Columbia-Washington border sank 36 cents to average $4.33 per mmBtu.
($1=$1.03 Canadian)
AECO forwards: 11/30/10 11/29/10
December C$3.57-3.62 C$3.65-3.70
January C$3.59-3.64 n/a
Nov.'11-Oct.'12 C$4.26-4.31 C$4.26-4.31
(Reporting by Jeffrey Jones; editing by Peter Galloway) Keywords: MARKETS NATGAS CANADA (jeff.jones@thomsonreuters.com; +1 403 531 1624; Reuters Messaging: jeff.jones.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.