West CGs running up for now
While prompt month gas slipped below $2.00, strong short-term weather demand and continued momentum by Freeport LNG toward a full restart combined to fuel a recovery late last week.
The March '23 NYMEX contract rolled off the board at $2.45, up $0.13 on the day and up $0.17 from the prior week.
Prices in California soared as high as $17.750 this week.
PG&E CG ran up $4.64 week/week to average $11.11. SoCal CG jumped $3.81 to average $10.38.