Natural gas prices are set to remain strong for September baseload gas amid domestic supply concerns and surging global prices ahead of the peak winter season, NGI’s Bidweek Alert (BWA) data showed.

waha bidweek

The majority of U.S. locations escaped wild swings month/month, but the hikes to already elevated prices are noteworthy given moderating weather across much of the Lower 48. There are pockets of heat that remain in long-range forecasts, but large swaths of the country are expected to see much more comfortable temperatures in the 70s and low 80s.

Theoretically, this should lower cooling demand. However, as the market has seen throughout the summer, power burns have been robust even during periods of seasonal temperatures. That’s because wind generation typically falls in the...