Heat-Driven Gains Fade Across Most US Natural Gas Markets

Natural gas forwards experienced a broad sell-off last week, July 22-29, as national prices retreated. The only exception was Western points, where record desert temperatures kept buyers engaged.

The heat-driven gains seen in the previous week gave way to a selloff across most of the country's natural gas forward markets. This was an unusual move, given that temperatures were above average for this time of year.

Southwest hubs bucked the national trend and held their value, while Permian round-trips saw a rally in prices. New England winter contracts continued to slide.