With warnings of higher prices still to come, natural gas forward prices mounted hefty gains for the trading period ending May 25, with prices nearing $9.00/MMBtu across much of the country and cresting $10.00 in California, according to NGI’s Forward Look.

June fixed prices averaged 65.0 cents higher on the week, while the balance of summer (June-October) jumped 58.0 cents on average, Forward Look data showed. Prices for the upcoming winter (November-March) picked up an average 45.0 cents, with double-digit prices seen throughout the Northeast. Notably, the winter strips for locations in New England – long-plagued by tight capacity – already have surged above $20.00.

The region isn’t likely to get any relief for at least another year. Equitrans Midstream Corp. earlier...