New Pipe Bolsters Waha Basis; Nymex Drags Down Gulf Markets

摘要

The late-month swan dive by January gas futures had a notable impact on basis markets on the Gulf Coast. But other eastern markets seemed less impacted - not because they could avoid the Nymex downdraft but because a strengthening winter premium was already baked into their bidweek basis to Henry Hub. Meanwhile, Western markets - free to ignore Nymex gyrations - sagged a bit but still retained a distinct premium to those regions tethered to the prompt-month Nymex, which rolled off the board Jan. 29 at $2.467 per million Btu. This set the bidweek price at $2.48/MMBtu at Henry Hub, down 42c from last month.