Big basis moves in Appalachia and on the West Coast highlighted natural gas forwards trading during the June 3-9 period, while a sufficiently hot forecast helped propel a broader move higher for the Lower 48 overall, according to NGI’s Forward Look.

Fixed prices for July delivery were higher week/week by around 10-15 cents at numerous locations, with benchmark Henry Hub gaining 8.8 cents to average $3.130/MMBtu. 

Appy Supply Pinch

The potential for a pressure reduction on the Texas Eastern Transmission Co. (Tetco) system to remain in place for much longer weighed on the Nymex futures markets throughout the week.

Late Thursday, Tetco offered a little more clarity, though not exactly the resolution the market had hoped for. The pipeline indicated that the pressure...