Although gas storage deficits tightened in most regions over the past month, low supply in the Pacific Northwest combined with other market factors are boosting prices in the region and farther upstream at Wyoming's Opal Hub as more Rockies gas is flowing to the region. Rockies volumes into the Pacific Northwest have remained elevated to start the year, rising about 930 MMcf/d above 2018 levels, according to S&P Global Platts Analytics. About 530 MMcf/d of this increase has come on Northwest Pipeline, with the remaining 400 MMcf/d coming on Ruby Pipeline. Stronger outflow demand has helped push Opal basis to Henry Hub to a year-to-date average of 35 cents/ MMBtu, an increase of more than $1.00/MMBtu above last year.
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