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Summer Heat Sends Natural Gas Forward Prices Higher

Natural Gas Intelligence · last updated

Lagging production and rising demand backed by LNG exports and weather-related power load provided tailwinds for natural gas prices along the forward curve in the April 24-30 period.

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

A few scattered losses were noted mainly at hubs in the West. A 14.2-cent decline at SoCal Citygate sent the average to $2.710/MMBtu. CIG slumped 13.3 cents to $1.707. Elsewhere, prompt-month fixed forward prices were higher week/week, NGI’s Forward Look data show.

Leading gainers were in the Southeast, where Cove Point fixed forward prices jumped 20.1 cents to $2.305. In Appalachia, Eastern Gas South gained 21.4 cents to $2.327. Henry Hub added 14.4 cents week/week to $3.169.

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