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April Baseload Natural Gas Prices Weaken on First Day of Bidweek, Led Lower by Permian Basin

Natural Gas Intelligence · last updated

Baseload natural gas prices declined on the first day of April bidweek trading on Tuesday, undercut by mild shoulder season weather and planned pipeline maintenance, NGI’s Bidweek Alert (BWA) data show.

Natural Gas Intelligence's (NGI) XXX bidweek natural gas price graph showing historical market volatility.

In the Permian Basin, Waha fixed prices traded between negative 75.0 cents/MMBtu and negative $1.050, averaging at a negative $1.000 on the first day of April bidweek trading, BWA data showed. That’s a steep discount to Waha’s average of 86.5 cents in March and negative 11.0 cents in April 2024.

Spring pipeline maintenance season was likely a culprit for the Permian baseload price weakness. Already in March, pipeline outages have backed up flows out of the Permian. NGI’s Waha cash prices sank below zero for the first time since November 2024.

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