An overall bullish week for natural gas markets saw regional forwards rally sharply from coast to coast during the Aug. 3-9 trading period, while a mix of strong demand and supply constraints helped drive outsized gains for the western Lower 48, NGI’s Forward Look data show.

National benchmark Henry Hub set the pace for sizable fixed price gains across the board, adding 47.8 cents week/week to end at $2.956/MMBtu, just shy of the psychological $3 threshold.

Meanwhile, basis shifts revealed even stronger gains for western hubs, particularly for delivery during the coming winter. 

[Want to visualize Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

Basis trading for the Aug. 3-9 period showed sharp upward...