Bidweek

It was almost as if the bulls couldn’t wait for the first indication winter was on its way, and December Bidweek prices rocketed to the highest bidweek national average since February of 2015.

Overall November bidweek trading fared far better than the free-falling natural gas futures market as the NGI National Bidweek Average eased a modest 3 cents from October bidweek to $2.48, while the November futures settled at $2.764, down a stout 18.8 cents from the settle of the October contract.

At first glance it appeared that double-digit bidweek gains in producing regions from California and the Rocky Mountains to Texas and Louisiana might put a positive luster on October bidweek. However, steep declines in Appalachia and the Northeast offset any hope to a positive outcome and the NGI National Bidweek Average came in at $2.51, unchanged from September, and 15 cents higher than October 2015 bidweek.

September natural gas bidweek bulls regained some of their footing following August Bidweek’s 23-cent setback to $2.43. It wasn’t quite the same as July’s 86-cent surge, but the NGI September 2016 National Bidweek Average rose 8 cents to $2.51, which coincidentally is 8 cents higher than the September 2015 average of $2.43.

August bidweek could aptly be characterized as “You win some, you lose some,” as prices gave back some of the 86-cent gain market bulls enjoyed in July bidweek pricing. NGI”s National Bidweek Average fell 23 cents from July to $2.43, which is only 13 cents below the August 2015 bidweek average.

It may be too early to pop the champagne corks, but happier days look to be here again, at least for producers, as July bidweek indexes were up nearly $1 at many locations.

Following the precipitous fall in March bidweek quotes, April and May bidweek managed healthy gains, with April rising 8 cents and May up 14 cents. The third time was not a charm, however, as the June NGI National Bidweek Average fell from May, albeit slightly, by 2 cents to $1.80, which also represents a 75-cent drop from the June 2015 bidweek average.

The Bidweek price landscape was able to continue the improvements seen in April Bidweek, and all but a handful of points recorded gains for May. Neither month appeared to be living up to its billing as a fall-off shoulder month. TheNGI National Bidweek Average for May rose a healthy 14 cents from April to $1.82, with Rocky Mountain and California points well into double-digit gains.

The Bidweek price landscape was able to continue the improvements seen in April Bidweek, and all but a handful of points recorded gains for May. Neither month appeared to be living up to its billing as a fall-off shoulder month. TheNGI National Bidweek Average for May rose a healthy 14 cents from April to $1.82, with Rocky Mountain and California points well into double-digit gains.