Baseload natural gas prices were trending lower for May delivery as mild weather and a glut of supply in Texas kept bidders from rushing to buy on the first day of bidweek trading Wednesday (April 24), according to NGI’s Bidweek Alert (BWA).

In West Texas, Waha traded at fixed prices between negative 44.0 cents and positive 40.0 cents, to average negative 35.0 cents. The location averaged negative 11.0 cents for April baseload, according to NGI’s Bidweek Survey.

Meanwhile, trading in the daily spot market has improved in recent days, with averages turning positive for the first time in over a month. NGI’s daily cash price data showed Waha up 2.5 cents to an average of 6.5 cents Wednesday. 

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