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Canadian spot gas climbs to six-month high
July 25, 2012 / 9:01 PM / 5 years ago

Canadian spot gas climbs to six-month high

 * AECO up C$0.01 to C$2.40/GJ
 * Export prices rise
 CALGARY, Alberta, July 25 (Reuters) - Canadian spot natural
gas prices edged up on Wednesday to their highest in more than
six months as short-term supplies tightened in Alberta and
forecasters called for more warm temperatures in major markets.
 Spot gas at the AECO storage hub in southeastern Alberta
rose a penny to average C$2.40 a gigajoule, its highest since
Jan. 11. Deals were done between C$2.32 and C$2.44.
 Southern Alberta temperatures are expected above the
seasonal average for the five days starting Friday, according to
Environment Canada. Toronto temperatures are forecast to hover
around normal for the next six days.


 Alberta's main pipeline system ran at 16.16 bcf, 136 mmcf
below operator TransCanada Corp's target line pack.
 Producers delivered 9.5 bcf into the system and a net 213
mmcf was injected into storage facilities in the province.
 Export prices also gained. Spot gas at Niagara, for shipment
into the U.S. Northeast, rose 1 cent to average $3.34 per mmBtu.
     
 Spot gas at Huntingdon-Sumas on the British
Columbia-Washington border averaged $2.81 per mmBtu, up 9 cents.
 ($1=$1.02 Canadian)
 
 AECO Forwards:    7/25/12          7/24/12
 Bal. July         C$2.27-2.32      C$2.37-2.42
 August            C$2.33-2.38      C$2.39-2.42
 Nov.'12-Oct.'13   C$3.02-3.07      C$3.04-3.09
 
 (Reporting by Jeffrey Jones; editing by Jim Marshall)
 

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