Natural gas forward prices surged during the May 1-7 trading period as the market responded to summer heat popping up in forecasts and uncertainty in oil markets boosting price outlooks.
Expand
June fixed prices for all North American hubs rose by an average 36.1 cents during the period, NGI’s Forward Look data show.
The biggest price gains were seen in Appalachia, California, the Rockies, Southeast and in West Texas. Stanfield rose 54.1 cents week/week to $3.197 for June delivery. SoCal Citygate added 53.1 cents to $3.795. Texas Eastern M-2, 30 Receipt moved up 41.0 cents to $2.912.