Low Spring Demand Takes Toll on Weekly Natural Gas Prices; Futures Quiet Too, but Stronger Pricing Looms
Picture-perfect weather across the country sank spot gas prices for the April 5-9 week, with markets on the East Coast leading the way with the steepest losses in the Lower 48. NGI’s Weekly Spot Gas National Avg. ultimately fell 15.0 cents week/week to average $2.250.
Nymex futures were far less volatile, aside from the start of the week, when the May contract sunk to a year-to-date low after a major warm revision in the April forecast.
Driven by mild temperatures in the 50s to 70s across the northern United States, Northeast markets posted substantial decreases week/week. The result was sub-$2.000 pricing even in some of the highest-priced markets.
Nymex Natural Gas Futures Crumble on Warming April Forecast; Cash Weakens Further
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Natural Gas Futures Hop Ahead of Long Easter Weekend on EIA Neutral Print, Lower Production
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NGI Adding Three Locations to Extensive Natural Gas Forward Look Product
In an ongoing effort to improve its robust natural gas futures pricing indexes, Natural Gas Intelligence (NGI) is adding three new pricing locations Agua Dulce, Transco Zone 2 and Transwestern to our
As exports moving natural gas south of the border continue to grow, the addition of the Agua Dulce location aims to provide clarity into the pricing at the Texas/Mexico border. Agua Dulce is the last stop before the border for natural gas moving south into Mexico via pipelines like Sur de Texas-Tuxpan.
Along with Agua Dulce, NGI is completing the suite of Transcontinental Gas Pipe Line Co. zones by adding Transco Zone 2 (Station 45) in East Texas. The Transwestern location in West Texas expands the coverage of Permian Basin locations.
Weekly Spot Natural Gas Prices Extend Massive Losses to Close February
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