For much of the Lower 48, regional natural gas prices gained during the Dec. 21-27 trading period amid hopes for a chillier new year, though winter basis premiums continued to fade, NGI’s Forward Look data show.

Appy Regional Basis Outlook

January fixed prices at Henry Hub rallied 17.7 cents to exit the period at $2.629/MMBtu. February finished at $2.458, up 9.9 cents.

Continuing themes from the week-earlier period, winter basis premiums came down sharply for hubs in the West and the Northeast, even as fixed prices advanced for much of the rest of the Lower 48.

Northeast Premiums Fade

January basis at Transco Zone 6 NY fell 32.5 cents to end at plus-$2.159. Farther upstream, Texas Eastern M-3, Delivery tumbled 32.0 cents for January, ending at plus-$1.394.

Updated forecasting from Maxar’s...