Forward Look

Natural gas forward basis markets were mixed last week, with most points shifting only a few cents despite some significant traction in Nymex futures.

Natural gas forward basis markets continued to hibernate during the first week of April, with only a few market hubs shifting five cents or more despite some rather significant movement in Nymex futures.

Natural gas forwards basis markets entered April with nary a whisper, shifting no more than a few cents at most pricing hubs as mild weather continued to keep prices steady.

Bidweek volatility, a bearish storage picture and expectations of low hydro supplies sparked a handful of movers and shakers in an otherwise dull natural gas forwards basis market this week.

It was yet another quiet week for natural gas forwards basis markets as seasonal temperatures ranging from the 60s to 80s are forecast for most of the U.S. over the next couple of weeks.

Natural gas basis markets remained in a lull for the second week of March, with prompt-month prices shifting less than five cents at most market hubs, amid forecasts for mostly mild weather across the United States.

Natural gas forwards basis markets were generally lower the first week of March as forecasts for warmer weather trumped strength in Nymex gas futures.

Natural gas forwards basis markets saw March quietly roll off the board and April take its prompt-month position on a light note as market players appear convinced that significantly cold weather will likely come to an end in the next week or so.

Even as much of the central and eastern U.S. continues to experience what some have dubbed the “snowpocalypse,” only a handful of affected natural gas forwards markets saw any significant price action from Feb. 13-19.