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Midmorning Markets: Western Natural Gas Spot Prices Suffer Amid Lofty Supply

Natural Gas Intelligence · last updated

Daily natural gas prices across the Mountain West, Southwest and Southern California struggled to reach the $1.00/MMBtu level in late April as abundant supply intersected with soft spring demand.

Line chart of NGI’s California regional average daily natural gas price showing volatility from April 2025 to April 2026, including a sharp spike above $8.00/MMBtu in late January 2026 before declining below $2.00/MMBtu in spring.

At a Glance:

  • Western price weakness endures
  • Supply in storage remains robust
  • Gas production meets demand

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