Weekly natural gas cash prices gained ground amid seasonally strong demand in the West and another anticipated round of frigid temperatures in the region during the week ahead.

Storage Report

NGI’s Weekly Spot Gas National Avg. for the holiday-abbreviated Nov. 21-23 period gained 40.5 cents to $6.785. It marked the third consecutive weekly advance for cash markets.

As the latest trading week closed, hubs across the West were far ahead. PG&E Citygate jumped $2.190 to $10.895, while SoCal Citygate gained $1.500 to $10.165, and SoCal Border Avg. advanced $1.505 to $9.575.

The December Nymex futures contract, meanwhile, also climbed through the three-day trading period ahead of the Thanksgiving holiday. It settled at $7.308 MMBtu on Wednesday, up 52.9 cents on the day and up 16% from the...