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Hot Forecasts, Storage Trends Send Natural Gas Forward Prices Higher

Natural Gas Intelligence · last updated

Amid a chorus of weather forecasts warning of more heat ahead, traders pushed natural gas prices higher along the forward curve over the July 9-16 trading period.

Natural Gas Intelligence's (NGI) natural gas forward curve chart showing basis price forecasts for hubs key to the Southeast market.

August fixed prices rose by an average of 34.1 cents to $3.134/MMBtu, according to NGI’s Forward Look data. The Lower 48 benchmark Henry Hub climbed 33.8 cents to $3.554. Algonquin Citygate surged 47.8 cents to $3.383. While Florida Gas Zone 3 saw a more modest 19.9-cent increase, it was the highest priced hub in the country, at $4.518.

August basis differentials weakened by an average of 2.3 cents, as regional prices generally trailed the benchmark.

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