West cash prices see modest gains as GTN and Westcoast maintenances continue

摘要

West cash prices saw modest gains Thursday, amid depresseddemand and maintenance works.Cheyenne Hub rose 4 cents to $1.85/MMBtu while Opal gained 2cents to $1.89/MMBtu, a 10-day high for both the pricing points.Total demand has been steadily coming off from the winter highsand is set to stand at 8.3 Bcf Friday, down almost from the start ofApril, according to data from S&P Global Platts Analytics. Demand isset to stay relatively flat over the next seven days.Much of the current elevation in prices is driven by planned andunplanned maintenance works, which has reduced supply of Canadiangas in the Pacific Northwest and Southwest.Gas Transmission Northwest announced a force majeureWednesday morning, which lowered gas volumes flowing throughKingsgate, GTN’s cross border point with Canada, to just 1.74 Bcf/d, adrop of about 560 MMcf/d from average flows the past month.