With the market weighing mild shoulder season weather and bloated storage against weaker production, regional natural gas forward prices generally held steady at the front of the curve during the April 4-10 trading period.

Fixed prices at benchmark Henry Hub finished the period at $1.888/MMBtu for May delivery, up 4.3 cents week/week, according to NGI’s Forward Look. Numerous Lower 48 hubs similarly finished within a nickel of even.

There were some exceptions, notably in the Permian Basin, where the region’s oil-driven economics contributed to an inversion of natural gas prices for May delivery.

Permian Pain Point

Fixed prices at El Paso Permian, Waha and Transwestern all sold off sharply for May and across the peak summer contracts during the April 4-10 trading...