Negative West Texas Natural Gas Spot Prices Persist Amid Stout Supply, Soft Demand
West Texas natural gas cash prices remain mired in negative territory amid weak weather-driven demand and a massive supply overhang. Waha cash prices on Waha cash prices have risen by a half a cent but averaged negative 69.5 cents/MMBtu, according to NGI data. The West Texas benchmark has been largely in the red since early March due to high supply and low demand. Maintenance events on key pipelines have disrupted takeaway capacity, low demand for gas, and record levels of associated gas production in the Permian Basin have left excess supply stranded in the region. Suppliers have paid to send away gas, resulting in negative prices.
ที่ตีพิมพ์ : 2 เดือนที่แล้ว โดย ใน Environment
Waha cash prices on Monday ticked up a half-cent but still averaged negative 69.5 cents/MMBtu, according to NGI data. The West Texas benchmark has mostly hovered in the red since early March. El Paso Permian physical prices averaged negative 68.5 cents on Monday, down 8.5 cents on the day.
A combination of various maintenance events on key pipelines that interrupted takeaway capacity, modest demand for gas because of anemic heating demand, and record levels of associated gas production in the Permian Basin of West Texas have left excess supply stranded in the region. Suppliers have paid to send away gas, resulting in negative prices.
หัวข้อ: ESG