NGI Weekly Gas Price Index

Winter storm Hercules, which produced record cold in areas of the United States and dropped more than a foot of snow in the Northeast, dominated the attention of gas traders for the holiday-shortened Dec. 31-Jan. 3 trading week. While a number of regions surveyed saw small declines in average prices for the week, stout gains in the East pushed NGI’s Weekly Spot Gas Average up 94 cents to $5.41/MMBtu with a wide range of individual trades from $1.50 at Tranco-Leidy Line to $39.00 at Transco Zone 6-NY.

At first glance weekly gas prices were kind to neither the bulls nor the bears. For the week ended Dec. 27 the NGI National Weekly Spot Gas Average fell by just a penny to $4.47, but major swings were recorded throughout the country. Chicago Citygate bulls enjoyed the highest NGI weekly price in 2 1/2 years at $4.81. Of the actively traded points the Northeast was home to market points showing the greatest gains as wellas losses. In New England Iroquois Zone 1 recorded the largest advance rising 81 cents to $5.77, and at the other end of the spectrum deliveries to Algonquin Citygates tumbled $4.41 to $9.75.

Weekly physical gas prices for the five trading days ending Dec. 20 were awash in a sea of red ink. NGI’s National Weekly Spot Gas Average came in at $4.48, down a stout 66 cents with all regions losing anywhere from a nickel to more than $2.

The NGI Weekly Spot Gas average for the week ended Dec. 13 bounded higher by $1.03 to average $5.14 led in large part by the Northeast regional gain of $3.18 to average $7.02 as a broad Arctic chill brought the region’s first real dose of winter.

For the week ended Dec. 6 the NGI Weekly Spot Gas Average nationally rose 18 cents to $4.11. The strongest gains were posted in the Rocky Mountains and California with the Rockies adding a stout 75 cents to $4.58 and California quotes gaining 42 cents to $4.38.

The NGI weekly spot gas average posted a stellar overall 24 cent gain to $3.93 for trading Nov. 25 and Nov. 26. All locations posted double-digit gains with the exception of three points on Iroquois Pipeline, which each shed less than a dime. Regionally the Northeast was a land of extremes tallying the week’s biggest winners and losers. Of the actively traded points Algonquin Citygates made it to the top adding 88 cents to $7.84 and deliveries to Iroquois Zone 2 eased 9 cents to $4.58. Regionally the Northeast outdistanced all section of the country with a 34 cent rise. California trailed the pack with “only” an 18 cent gain.

Bulls were clearly in the driver’s seat for the week ending Nov. 22. The NGI National Spot Gas Average rose 11 cents to $3.69, and all actively traded points scored gains. Leading the pack higher was the trading at the Algonquin Citygates Friday for weekend and Monday delivery with a whopping $9.51 rise to $14.01. For the week, prices at the Algonquin Citygates rose a hefty $1.07 to $6.96. Other Northeast points weren’t far behind.Tennessee Zone 6 200 L added 80 cents to $6.57 and Iroquois Zone 2 was up 49 cents to $4.67. Deliveries to Transco Zone 6 New York added 44 cents to $4.08.

For the week ending Nov. 15 the NGI National Spot Gas Average posted a healthy 13 cent gain to average $3.58 with only one Rockies point and a handful of Northeast locations failing to make it to the positive side of the trading ledger. Of all the market points the Northeast was home to the week’s biggest winner and also the biggest loser.

It was a rough week for the bulls as NGI’s National Spot Gas Average fell a hefty 17 cents from the previous week to $3.45. All regions of the country were down by double digits and only a handful of individual points in the Northeast managed to make it to the positive side of the trading ledger.