March Bidweek prices were all over the map, with multi-dollar gains posted in the Midwest and multi-dollar losses seen in the Northeast. TheNGI March Bidweek national average was $5.84, down 74 cents from February, but tell that to buyers on the AlgonquinCitygates, who paid the month’s highest index at $15.52, down $19.98, or on Tennessee Zone 6 200 L where the March Index was $14.63, down $11.93. Lowest bidweek prices were seen on Transco Leidy, which was $1.91, down $1.43 from February, and Tennessee Zone 4 Marcellus, which was $1.93, down $1.47.
Articles from Bidweek
Prodded by January’s arctic blasts and promises of more cold to come, February bidweek prices soared, with the usual eastern suspects notching prices above $25 and $35 dollars, helping boost NGI’s National Spot Gas Bidweek average up $2.04 from January to $6.58. The Northeast region averaged $8.83, with the Midwest not far behind at $7.78.
With a far-reaching blizzard and record-setting cold moving out of the Midwest and into the Northeast Thursday, it came as no surprise that January natural gas bidweek prices not only shot higher, but in at least one instance reached a record high.
December bidweek prices showed hefty double-digit gains throughout the country, with NGI’s National Average for the month jumping 24 cents from November to $3.77. Only a single individual point, PG&E Citygate, posted a loss, and advances of double-digits and in some cases, multi-dollars, were registered.
In an effort to stay current with the continuously changing North American natural gas market, NGI is proposing to make several changes to the spot market price tables that appear in NGI’s Bidweek Gas Price Survey, NGI’s Weekly Gas Price Index, and NGI’s Daily Gas Price Index newsletters. These changes would be effective as of the first December 2013 editions of our various Gas Price Index newsletters, and are as follows:
“The times they are a changin’.” NGI’s National Spot Gas Average for November Bidweek prices showed a tempered gain of 9 cents to $3.53, but regional changes were moving around with the randomness of bumper cars at an amusement park.
With the shoulder season in full swing where it is cool enough to turn off the air conditioning yet not cold enough to turn on the heat,NGI’s October Bidweek National Spot Gas Average was a nickel lower than September at $3.44, yet 47 cents higher than the October 2012 bidweek average of $2.97. Most regions of the country for October 2013 eased anywhere from a couple of pennies to as much as a dime.
NGI’s National Spot Gas Average for September bidweek advanced a seemingly nominal 4 cents to $3.49 from the previous month, but even though the Midwest got the lion’s share of market focus during August as it endured a brutal heat wave, California for the most part scored the nation’s highest bidweek price, with the PG&E Citygate coming in at $3.88, up 12 cents.
This year’s unseasonably cool summer in parts of the eastern United States and a natural gas supply glut brought on by the country’s shale production boom are continuing to put downward pressure on natural gas prices, as evidenced byNGI’s August Bidweek Survey. The national spot gas average for the month dropped 21 cents from July to average $3.45/MMBtu.
With screen prices at a three-month low it’s no surprise that July bidweek came in a bit soft.NGI’s National Spot Gas Average for July bidweek came in at $3.66, a 48-cent decline from June 2013, but 94 cents higher than the July 2012 bidweek average.