At the Waha hub in the Permian basin in West Texas, spot natural gas prices turned negative due to milf weather, which hammered fuel demand.
For Monday, next-day prices slumped to an average of -32 cents/mmBtu, the lowest since April, as shown in the pricing data from Refinitiv.
Meanwhile, Waha forwards averaged USD1.90/mmBtu for the balance of 2020 and USD2.84/mmBtu for calendar 2021. In comparison, so far this year it averaged at 94 cents/mmBtu, 91 cents last year, and the five-year average is USD2.11/mmBtu.
