Markets

SoCal Citygate Reaches New Highs as Mercury Rises; Natural Gas Futures Retreat

A heat wave Monday led to the most expensive natural gas spot trades recorded at SoCal Citygate going back to at least 2008, as a volatile mixture of elevated gas-fired electric demand and ongoing supply constraints blew the roof off of prices. Largely driven by gains in California and the Desert Southwest, the NGI National Spot Gas Average surged 51 cents to $3.22/MMBtu. Read More

Day After Storage-Driven Rally, Natural Gas Futures Stable; SoCal Spikes Further

Natural gas futures pulled back slightly during an uneventful session Friday, with prices stable one day after rallying on bullish government storage data. In the spot market, the mercurial SoCal Citygate extended its run higher ahead of more heat expected in California, while points throughout the Gulf Coast and Texas saw modest gains; the NGI National Spot Gas Average added 3 cents to $2.71/MMBtu. Read More