In an elastic trading session, the market stretched out in the morning and then rebounded in the afternoon, to settle at $3.10 US/MMBtu (only a $0.03 increase). The upward movement was driven by reduced production output in South and Northeastern states along with increased flows to US LNG facilities. Cooler forecasts reduced demand forecasts, causing fundamental factors to remain neutral.

In Alberta, the AECO gas market experienced much needed support after increased flows at LNG Canada show signs of progress for the oversupplied market. Cash prices over the weekend were just under $1 CAD/GJ after falling as low as $0.15 CAD/GJ last week. (PB)