With hints of chillier weather arriving in the Lower 48 in November, along with an expected rise in LNG demand, baseload natural gas prices for November were trending higher, according to NGI’s Bidweek Alert (BWA).

West Texas regional forward basis curve

Northeast locations swung from a discount to a premium over benchmark Henry Hub prices as brief blasts of frigid air – along with the season’s first snow – have swept through the region in recent weeks, driving up gas demand for heating. Though forecasts show a milder pattern over the next couple of weeks, traders appeared to not want to get caught short on supply in the event of a colder flip for the back half of November.

New England’s Algonquin Citygate basis traded at plus $1.215 for November gas on day one of the three-day bidweek trading period, which...