A divergence in natural gas prices occurred along the forward curve from Jan. 5 through 12, with a relentless stretch of winter weather leading to a recovery in West Coast prices, while springlike conditions on the East Coast sent prices lower there. 

February fixed prices ultimately averaged 65.0 cents higher through the period, while the summer strip (April-October) picked up 6.0 cents and the winter 2023-2024 held steady, NGI’s Forward Look data showed.

A week after finally backing off recent highs, West Coast markets bounced back as the brutal winter conditions that started in December were set to continue for the foreseeable future. The National Weather Service (NWS) said the region continued to be stuck in a storm pattern, with two low pressure systems seen impacting the...