The move helped erase the losses of last week, and the March contract is now a little more than 20 cents above the January lows. The prompt contract rose a nickel, to $2.55/MMBtu.
The rest of 2012 was up seven cents, to $3.03, while 2013 moved a similar $3.78. Unlike some moves in the past days, no contracts were left behind.
Past shifts in the curve have emphasized a bearish view around the October contract, likely reflecting fears that storage is heading to the limits of capacity (which matches our outlook).
The weather forecast turned incrementally colder, with the South Central region featuring a near-term cold front, while the 11-14 day outlook features more cold for that region, with the Southwest then joining the cold weather.
Cash markets reflected a physical market with more buyers, with almost all points moving higher. New York prices (Transco-Z6) popped 11 cents higher, to $2.89.
Henry Hub was up six cents, to $2.46. SoCalBorder rose 16 cents, to $2.84. Boston buyers took their frustration partly out on the gas market, with prices in that region up 20 cents.
