Despite bullish national production readings, weekly natural gas cash prices retreated alongside a West Texas supply glut and festering headwinds in the region. 

NGI’s Weekly Spot Gas National Avg. for the April 8-12 period lost 25.0 cents to $1.210/MMBtu.

West Texas prices, as they did the prior week, proved the principal source of weakness.

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Waha shed $1.870 to negative $2.125, while El Paso Permian dropped $1.725 to negative $1.995. Oneok WesTex lost 92.0 cents to negative 85.5 cents.

Multiple factors are at play in the region. In addition to anemic shoulder season demand,...