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What do forward prices represent?
Forward prices represent the expected price of gas for each month going out into the future. NGI’s Forward Look prices are modeled based on indicative data obtained from exchanges and other third parties.
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How should I interpret the above chart?
The above chart shows a 24-month forward basis curve with monthly granularity. Essentially, it represents the market’s estimate of the selected point’s basis to the CME Henry Hub futures contract for each month, going out two years into the future.