Waha gas prices hit 11-week high amid signs of easing oversupply in the Permian

摘要

Spot gas prices in West Texas were trading at their highest in 11 weeks Thursday in the low $1/MMBtu range, amid growing signs that oversupply in the Permian could be easing. At the basin’s benchmark Waha Hub, the cash market was trading at $1.25 around midday, following a stunning rebound in prices Wednesday when the index settled at $1.21. Waha cash prices looked to end the day closer to $1.17/MMBtu, preliminary settlement data from S&P Global Platts showed.