Rockies gas prices bottom out as summer storage, power demand loom large

摘要

Stubbornly high gas prices across the Rockies are falling backto earth in late April as winter demand fades. A bullish outlookfor storage and cooling demand in the western gas markets thissummer, though, could fuel another rally by later this year.In recent trading, gas prices at Kern River Opal, NorthwestWyoming Pool, Questar Rockies and other regional locations havefallen to the low-$2s/MMBtu for the first time in nearly two years.Earlier this year, as spot gas prices at the benchmark HenryHub cratered – dipping below $3 in late January – prices acrossthe Rockies continued to trade at steep premiums, holding up inthe $4-$5 range even through early April, data from SP GlobalCommodity Insights shows.